Harbour Investments Inc. Sells 689 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Harbour Investments Inc. decreased its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 6.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,230 shares of the company’s stock after selling 689 shares during the period. Harbour Investments Inc.’s holdings in American Electric Power were worth $947,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of AEP. Mizuho Markets Americas LLC grew its holdings in shares of American Electric Power by 646.9% in the first quarter. Mizuho Markets Americas LLC now owns 261,440 shares of the company’s stock worth $22,510,000 after acquiring an additional 226,435 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in shares of American Electric Power by 60.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 49,762 shares of the company’s stock worth $4,285,000 after acquiring an additional 18,726 shares during the period. OLD National Bancorp IN lifted its position in American Electric Power by 14.4% during the second quarter. OLD National Bancorp IN now owns 120,489 shares of the company’s stock valued at $10,572,000 after purchasing an additional 15,138 shares in the last quarter. MainStreet Investment Advisors LLC lifted its position in American Electric Power by 13.2% during the second quarter. MainStreet Investment Advisors LLC now owns 42,517 shares of the company’s stock valued at $3,730,000 after purchasing an additional 4,971 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in American Electric Power by 1,140.5% during the second quarter. Assenagon Asset Management S.A. now owns 456,686 shares of the company’s stock valued at $40,070,000 after purchasing an additional 419,870 shares in the last quarter. Institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

NASDAQ:AEP opened at $93.76 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $49.89 billion, a P/E ratio of 18.70, a P/E/G ratio of 2.65 and a beta of 0.55. American Electric Power Company, Inc. has a 12 month low of $75.22 and a 12 month high of $105.18. The business’s 50-day moving average is $100.04 and its 200 day moving average is $95.09.

American Electric Power Increases Dividend

The company 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 $0.93 dividend. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s payout ratio is currently 74.55%.

Analyst Ratings Changes

Several equities analysts recently weighed in on AEP shares. Jefferies Financial Group started coverage on American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 target price on the stock. Morgan Stanley lifted their target price on American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Guggenheim lifted their target price on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Bank of America lifted their target price on 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, Wells Fargo & Company lowered their price objective on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, American Electric Power currently 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.