Nations Financial Group Inc. IA ADV Buys 649 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Nations Financial Group Inc. IA ADV grew its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 9.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,305 shares of the company’s stock after purchasing an additional 649 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in American Electric Power were worth $750,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Pathway Financial Advisers LLC raised its holdings in American Electric Power by 10,177.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company’s stock valued at $203,399,000 after acquiring an additional 1,963,154 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of 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 purchasing an additional 1,927,234 shares during the period. National Bank of Canada FI lifted its holdings in American Electric Power by 221.9% during the 1st quarter. National Bank of Canada FI now owns 1,715,346 shares of the company’s stock worth $157,140,000 after purchasing an additional 1,182,451 shares during the last quarter. Zimmer Partners LP boosted its stake in American Electric Power by 578.2% in the 1st quarter. Zimmer Partners LP now owns 975,000 shares of the company’s stock valued at $83,948,000 after purchasing an additional 831,235 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in American Electric Power by 9.9% in the 1st quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company’s stock valued at $739,303,000 after buying an additional 776,965 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Price Performance

American Electric Power stock opened at $92.96 on Wednesday. The company has a market capitalization of $49.47 billion, a PE ratio of 18.63, a P/E/G ratio of 2.75 and a beta of 0.55. The company has a current ratio of 0.57, a quick ratio of 0.48 and a debt-to-equity ratio of 1.47. The stock has a 50-day moving average price of $100.40 and a two-hundred day moving average price of $95.05. American Electric Power Company, Inc. has a 12 month low of $74.97 and a 12 month high of $105.18.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be given a dividend of $0.93 per share. The ex-dividend date is Friday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 4.00%. American Electric Power’s dividend payout ratio (DPR) is currently 70.54%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. UBS Group lifted their target price on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a report on Thursday, November 7th. Guggenheim boosted their price objective on shares of American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Morgan Stanley increased their target price on shares of American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Bank of America lifted their price target on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Finally, BMO Capital Markets reduced their price target on American Electric Power from $111.00 to $104.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, American Electric Power has an average rating of “Hold” and a consensus target price of $98.27.

American Electric Power 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.