American Electric Power Company, Inc. (NASDAQ:AEP) Stock Position Lifted by Hartford Funds Management Co LLC

Hartford Funds Management Co LLC boosted its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 22.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,327 shares of the company’s stock after buying an additional 2,617 shares during the quarter. American Electric Power makes up about 0.1% of Hartford Funds Management Co LLC’s holdings, making the stock its 18th biggest position. Hartford Funds Management Co LLC’s holdings in American Electric Power were worth $1,470,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. HHM Wealth Advisors LLC increased its holdings in American Electric Power by 57.2% in the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after buying an additional 103 shares during the last quarter. LRI Investments LLC raised its holdings in shares of American Electric Power by 935.9% during the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock valued at $35,000 after purchasing an additional 365 shares in the last quarter. Briaud Financial Planning Inc lifted its stake in shares of American Electric Power by 52.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after purchasing an additional 150 shares during the last quarter. Naples Money Management LLC bought a new stake in American Electric Power in the second quarter worth $44,000. Finally, Opal Wealth Advisors LLC acquired a new position in American Electric Power during the second quarter worth $48,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Trading Down 0.5 %

Shares of AEP stock opened at $97.59 on Friday. The company has a market capitalization of $51.93 billion, a P/E ratio of 19.56, a P/E/G ratio of 2.83 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 company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. The firm has a 50-day moving average price of $99.11 and a 200 day moving average price of $95.50.

American Electric Power Increases Dividend

The firm also recently declared 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 a positive change from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a yield of 3.81%. American Electric Power’s dividend payout ratio is 74.55%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AEP shares. Wells Fargo & Company reduced 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 report on Thursday, November 7th. Jefferies Financial Group initiated coverage on American Electric Power in a report on Friday, September 20th. They issued a “hold” rating and a $107.00 target price for the company. Scotiabank increased their price target on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Morgan Stanley reduced their price objective on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Evercore ISI dropped their target price on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, American Electric Power currently has an average rating of “Hold” and a consensus target price of $98.00.

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.