Brown Brothers Harriman & Co. Acquires 962 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Brown Brothers Harriman & Co. lifted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 8.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,603 shares of the company’s stock after acquiring an additional 962 shares during the period. Brown Brothers Harriman & Co.’s holdings in American Electric Power were worth $1,293,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. HHM Wealth Advisors LLC lifted its holdings in shares of American Electric Power by 57.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after acquiring an additional 103 shares during the last quarter. E Fund Management Co. Ltd. raised its position in American Electric Power by 2.0% in the 2nd quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock worth $464,000 after purchasing an additional 105 shares during the period. XML Financial LLC lifted its stake in American Electric Power by 3.8% in the third quarter. XML Financial LLC now owns 2,921 shares of the company’s stock worth $300,000 after purchasing an additional 106 shares during the last quarter. Garrison Asset Management LLC boosted its position in shares of American Electric Power by 0.6% during the third quarter. Garrison Asset Management LLC now owns 19,009 shares of the company’s stock valued at $1,950,000 after buying an additional 109 shares during the period. Finally, Roanoke Asset Management Corp NY grew its stake in shares of American Electric Power by 2.2% during the third quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock valued at $516,000 after buying an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Trading Up 1.3 %

AEP opened at $99.33 on Wednesday. American Electric Power Company, Inc. has a 12 month low of $75.22 and a 12 month high of $105.18. The stock has a fifty day moving average price of $98.87 and a 200-day moving average price of $95.64. The firm has a market cap of $52.86 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 2.82 and a beta of 0.55. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47.

American Electric Power Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.75%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s dividend payout ratio is presently 74.55%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AEP. Wells Fargo & Company decreased their price target on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Jefferies Financial Group initiated coverage on American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 target price for the company. Barclays cut their price target on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday. Scotiabank lifted their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. upped their target price on shares of American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $97.93.

About American Electric Power

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.