American Electric Power Company, Inc. (NASDAQ:AEP) Shares Purchased by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. boosted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 8.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,603 shares of the company’s stock after buying an additional 962 shares during the period. Brown Brothers Harriman & Co.’s holdings in American Electric Power were worth $1,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. HHM Wealth Advisors LLC increased its holdings in shares of American Electric Power by 57.2% during the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after acquiring an additional 103 shares in the last quarter. LRI Investments LLC increased its stake in 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 raised its holdings in shares of American Electric Power by 52.1% in the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after buying an additional 150 shares during the last quarter. Naples Money Management LLC acquired a new stake in shares of American Electric Power during the second quarter worth $44,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of American Electric Power during the second quarter valued at $48,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Trading Up 1.3 %

Shares of American Electric Power stock opened at $99.33 on Wednesday. The firm has a 50-day simple moving average of $98.87 and a two-hundred day simple moving average of $95.64. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. American Electric Power Company, Inc. has a fifty-two week low of $75.22 and a fifty-two week high of $105.18. The company has a market cap of $52.86 billion, a P/E ratio of 19.91, a price-to-earnings-growth ratio of 2.82 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. Investors of record on Friday, November 8th will be issued a $0.93 dividend. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, November 8th. This represents a $3.72 dividend on an annualized basis and a yield of 3.75%. American Electric Power’s dividend payout ratio is presently 74.55%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on AEP shares. Bank of America lifted their price target 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. JPMorgan Chase & Co. lifted their target price on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Scotiabank increased their price target on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. BMO Capital Markets decreased their price objective on shares of American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Finally, Morgan Stanley cut their price objective on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Two equities 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 company. Based on data from MarketBeat.com, American Electric Power has an average rating of “Hold” and an average price target of $97.93.

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.