ICICI Prudential Asset Management Co Ltd Boosts Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

ICICI Prudential Asset Management Co Ltd increased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 20.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,946 shares of the company’s stock after purchasing an additional 1,156 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in American Electric Power were worth $713,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC raised its holdings in American Electric Power by 57.2% during the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after purchasing an additional 103 shares in the last quarter. LRI Investments LLC raised its holdings in American Electric Power by 935.9% during the second quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after purchasing an additional 365 shares in the last quarter. Briaud Financial Planning Inc raised its holdings in American Electric Power by 52.1% during the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after purchasing an additional 150 shares in the last quarter. Naples Money Management LLC purchased a new position in American Electric Power during the second quarter worth about $44,000. Finally, Opal Wealth Advisors LLC purchased a new position in American Electric Power in the second quarter valued at about $48,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AEP has been the subject of a number of research analyst reports. Guggenheim increased their target price on shares of American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. increased their target price on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Barclays increased their target price on shares of American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Evercore ISI dropped their target price on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. Finally, Morgan Stanley increased their target price on shares of American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Two research 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 data from MarketBeat, the company has an average rating of “Hold” and an average target price of $98.27.

American Electric Power Trading Up 0.3 %

NASDAQ AEP traded up $0.25 during mid-day trading on Wednesday, reaching $93.21. 418,704 shares of the stock were exchanged, compared to its average volume of 3,144,557. American Electric Power Company, Inc. has a 1-year low of $75.22 and a 1-year high of $105.18. The business’s fifty day simple moving average is $100.23 and its 200 day simple moving average is $95.10. The stock has a market capitalization of $49.60 billion, a PE ratio of 18.63, a PEG ratio of 2.69 and a beta of 0.55. 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 Increases Dividend

The company also recently announced 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 represents a $3.72 dividend on an annualized basis and a yield of 3.99%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio (DPR) is 74.55%.

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.