24,690 Shares in American Electric Power Company, Inc. (NASDAQ:AEP) Acquired by DRW Securities LLC

DRW Securities LLC bought a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 24,690 shares of the company’s stock, valued at approximately $2,533,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its position in shares of American Electric Power by 8.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock worth $466,191,000 after acquiring an additional 341,846 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in American Electric Power by 1.1% in the second quarter. Envestnet Asset Management Inc. now owns 3,378,543 shares of the company’s stock valued at $296,433,000 after purchasing an additional 35,769 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in American Electric Power by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,183,200 shares of the company’s stock valued at $326,596,000 after purchasing an additional 51,467 shares during the last quarter. 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. Finally, Raymond James & Associates lifted 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 worth $161,877,000 after buying an additional 623,789 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Performance

Shares of AEP stock opened at $97.59 on Monday. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. 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 market cap of $51.93 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 2.82 and a beta of 0.55. The stock has a 50 day simple moving average of $99.11 and a 200-day simple moving average of $95.54.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a $0.93 dividend. The ex-dividend date is Friday, November 8th. This represents a $3.72 dividend on an annualized basis and a yield of 3.81%. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio (DPR) is 74.55%.

Analyst Ratings Changes

AEP has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Morgan Stanley reduced their target price on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a report on Friday. Scotiabank upped their target price on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Evercore ISI cut their price target on American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. Finally, Barclays boosted their price objective on American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $98.00.

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.