Pacer Advisors Inc. Purchases 22,429 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Pacer Advisors Inc. increased its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 34.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 87,692 shares of the company’s stock after acquiring an additional 22,429 shares during the quarter. Pacer Advisors Inc.’s holdings in American Electric Power were worth $8,088,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in AEP. Legacy Investment Solutions LLC purchased a new position in shares of American Electric Power during the 3rd quarter valued at about $25,000. Safe Harbor Fiduciary LLC purchased a new position in American Electric Power during the third quarter valued at approximately $33,000. Reston Wealth Management LLC bought a new position in shares of American Electric Power in the third quarter worth approximately $48,000. Decker Retirement Planning Inc. purchased a new stake in shares of American Electric Power in the fourth quarter worth $49,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of American Electric Power during the 3rd quarter valued at $50,000. 75.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on AEP. BMO Capital Markets cut their price target on American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Barclays decreased their target price on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 26th. Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $102.00 price objective (down previously from $109.00) on shares of American Electric Power in a research report on Thursday, December 12th. Finally, Wells Fargo & Company dropped their target price on shares of 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $98.00.

American Electric Power Trading Down 2.0 %

Shares of NASDAQ AEP opened at $98.05 on Thursday. The stock has a market capitalization of $52.17 billion, a P/E ratio of 19.65, a PEG ratio of 2.77 and a beta of 0.56. American Electric Power Company, Inc. has a 1-year low of $75.22 and a 1-year high of $105.18. The business’s 50 day moving average is $95.06 and its two-hundred day moving average is $97.47. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend is Monday, February 10th. American Electric Power’s payout ratio is 74.55%.

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.