Harvest Fund Management Co. Ltd Purchases 13,687 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Harvest Fund Management Co. Ltd grew its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 85.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,637 shares of the company’s stock after buying an additional 13,687 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in American Electric Power were worth $3,040,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC increased 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 purchasing an additional 341,846 shares in the last quarter. Envestnet Asset Management Inc. raised its position in American Electric Power by 1.1% in the 2nd 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 during the last quarter. Charles Schwab Investment Management Inc. boosted 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 worth $326,596,000 after purchasing an additional 51,467 shares in the last quarter. Pathway Financial Advisers LLC grew its holdings in shares of 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 during the last quarter. Finally, Raymond James & Associates grew its holdings in shares of American Electric Power by 51.1% during the second quarter. Raymond James & Associates now owns 1,844,968 shares of the company’s stock worth $161,877,000 after purchasing an additional 623,789 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Price Performance

American Electric Power 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. The firm has a market capitalization of $51.93 billion, a P/E ratio of 19.56, a PEG ratio of 2.83 and a beta of 0.55. The business has a 50-day moving average of $99.11 and a 200-day moving average of $95.54. American Electric Power Company, Inc. has a 1 year low of $75.22 and a 1 year high of $105.18.

American Electric Power Increases Dividend

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

Analysts Set New Price Targets

Several research analysts recently issued reports on AEP shares. Jefferies Financial Group began 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. BMO Capital Markets reduced their target price on shares of American Electric Power from $111.00 to $104.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Morgan Stanley lowered their price target on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a report on Friday. Barclays upped their price objective on American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Finally, Scotiabank lifted their target price on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Two 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $98.00.

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.