MTM Investment Management LLC Makes New Investment in American Electric Power Company, Inc. (NASDAQ:AEP)

MTM Investment Management LLC bought a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) in the 3rd quarter, Holdings Channel.com reports. The fund bought 2,031 shares of the company’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in AEP. Lazard Asset Management LLC increased its position in American Electric Power by 9.9% in the first quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company’s stock worth $739,303,000 after purchasing an additional 776,965 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in American Electric Power by 8.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock valued at $466,191,000 after buying an additional 341,846 shares during the period. Envestnet Asset Management Inc. boosted its stake 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 acquiring an additional 35,769 shares during the last quarter. Pathway Financial Advisers LLC grew its holdings in American Electric Power by 10,177.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,982,444 shares of the company’s stock worth $203,399,000 after acquiring an additional 1,963,154 shares during the period. Finally, Raymond James & Associates raised 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 acquiring an additional 623,789 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Up 0.2 %

AEP stock opened at $96.70 on Wednesday. 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 stock’s 50 day simple moving average is $99.47 and its 200 day simple moving average is $95.38. The company has a market cap of $51.46 billion, a P/E ratio of 19.38, a price-to-earnings-growth ratio of 2.78 and a beta of 0.55.

American Electric Power Increases Dividend

The business 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 dividend of $0.93 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.72 annualized dividend and a yield of 3.85%. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio is 74.55%.

Analyst Ratings Changes

A number of equities analysts have issued reports on AEP shares. Evercore ISI reduced their target price on American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. 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 report on Thursday, November 7th. Jefferies Financial Group assumed coverage on shares of American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 price target on the stock. Bank of America upped their price objective on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Finally, Morgan Stanley increased their price target on American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, American Electric Power has a consensus rating of “Hold” and a consensus target price of $98.27.

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.