American Electric Power Company, Inc. (NASDAQ:AEP) Stock Holdings Trimmed by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 12.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 87,958 shares of the company’s stock after selling 12,816 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in American Electric Power were worth $9,023,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of AEP. Pathway Financial Advisers LLC raised its holdings in American Electric Power by 10,177.1% during the third quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company’s stock worth $203,399,000 after purchasing an additional 1,963,154 shares in the last quarter. FMR LLC lifted its holdings in American Electric Power by 18.8% in the 3rd quarter. FMR LLC now owns 6,866,952 shares of the company’s stock valued at $704,549,000 after acquiring an additional 1,087,163 shares during the last quarter. Raymond James & Associates boosted its position in shares of American Electric Power by 51.1% during the 2nd quarter. Raymond James & Associates now owns 1,844,968 shares of the company’s stock valued at $161,877,000 after purchasing an additional 623,789 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of American Electric Power by 1,140.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 456,686 shares of the company’s stock worth $40,070,000 after purchasing an additional 419,870 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in American Electric Power by 8,396.3% during the third quarter. International Assets Investment Management LLC now owns 351,918 shares of the company’s stock valued at $361,070,000 after purchasing an additional 347,776 shares during the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Stock Performance

Shares of AEP stock opened at $99.86 on Monday. American Electric Power Company, Inc. has a fifty-two week low of $75.22 and a fifty-two week high of $105.18. The stock’s 50-day moving average is $98.72 and its two-hundred day moving average is $95.82. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. The firm has a market cap of $53.14 billion, a P/E ratio of 20.01, a PEG ratio of 2.88 and a beta of 0.55.

American Electric Power Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.93 per share. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, November 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.73%. American Electric Power’s dividend payout ratio is 74.55%.

Analysts Set New Price Targets

AEP has been the topic of several research reports. Wells Fargo & Company dropped their price target on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Bank of America boosted their target price on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. BMO Capital Markets decreased their price target on American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Barclays cut their price objective on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 26th. Finally, Morgan Stanley decreased their target price on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, American Electric Power currently has a consensus 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.