Carmel Capital Partners LLC Has $361,000 Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Carmel Capital Partners LLC boosted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 8.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,519 shares of the company’s stock after buying an additional 262 shares during the quarter. Carmel Capital Partners LLC’s holdings in American Electric Power were worth $361,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of AEP. Vanguard Group Inc. grew its position in American Electric Power by 0.8% during the first quarter. Vanguard Group Inc. now owns 49,630,436 shares of the company’s stock worth $4,273,181,000 after buying an additional 405,114 shares in the last quarter. Lazard Asset Management LLC grew its position in American Electric Power by 9.9% during the first quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company’s stock worth $739,303,000 after buying an additional 776,965 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in American Electric Power by 8.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock worth $466,191,000 after buying an additional 341,846 shares in the last quarter. Envestnet Asset Management Inc. grew its position in American Electric Power by 1.1% during the second quarter. Envestnet Asset Management Inc. now owns 3,378,543 shares of the company’s stock worth $296,433,000 after buying an additional 35,769 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in American Electric Power by 542.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock worth $193,541,000 after buying an additional 1,927,234 shares in the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Stock Performance

AEP stock opened at $96.40 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.48. The company has a 50 day moving average price of $100.51 and a 200 day moving average price of $94.87. American Electric Power Company, Inc. has a fifty-two week low of $74.97 and a fifty-two week high of $105.18. The stock has a market capitalization of $51.30 billion, a PE ratio of 19.20, a price-to-earnings-growth ratio of 2.81 and a beta of 0.55.

American Electric Power Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend is Friday, November 8th. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s payout ratio is 70.12%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AEP. Guggenheim lifted their target price on American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Jefferies Financial Group initiated coverage on shares of American Electric Power in a research note on Friday, September 20th. They set a “hold” rating and a $107.00 price target for the company. Wells Fargo & Company cut their price target on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday. JPMorgan Chase & Co. raised their price target 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. Finally, Scotiabank raised their price target on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $98.27.

American Electric Power Company Profile

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.