Financial Counselors Inc. Has $6.88 Million Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Financial Counselors Inc. lifted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 0.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 67,064 shares of the company’s stock after acquiring an additional 194 shares during the period. Financial Counselors Inc.’s holdings in American Electric Power were worth $6,881,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of AEP. Tidal Investments LLC grew its stake in shares of American Electric Power by 5.8% in the first quarter. Tidal Investments LLC now owns 13,103 shares of the company’s stock valued at $1,126,000 after acquiring an additional 724 shares in the last quarter. Atria Investments Inc grew its stake in American Electric Power by 27.2% during the first quarter. Atria Investments Inc now owns 77,394 shares of the company’s stock worth $6,664,000 after buying an additional 16,568 shares in the last quarter. Cetera Investment Advisers grew its stake in American Electric Power by 240.0% during the first quarter. Cetera Investment Advisers now owns 222,765 shares of the company’s stock worth $19,180,000 after buying an additional 157,250 shares in the last quarter. Cetera Advisors LLC grew its stake in American Electric Power by 80.0% during the first quarter. Cetera Advisors LLC now owns 54,779 shares of the company’s stock worth $4,716,000 after buying an additional 24,339 shares in the last quarter. Finally, Cambridge Trust Co. grew its stake in American Electric Power by 6.7% during the first quarter. Cambridge Trust Co. now owns 2,218 shares of the company’s stock worth $191,000 after buying an additional 139 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AEP has been the topic of a number of analyst reports. Barclays reduced their price objective on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Morgan Stanley reduced 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. Jefferies Financial Group initiated coverage on shares of American Electric Power in a research note on Friday, September 20th. They set a “hold” rating and a $107.00 price objective on the stock. Bank of America increased their price objective on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Finally, Wells Fargo & Company dropped their target price on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $97.93.

American Electric Power Stock Up 0.6 %

Shares of NASDAQ AEP opened at $99.89 on Friday. The company has a 50 day simple moving average of $98.77 and a 200 day simple moving average of $95.70. The firm has a market cap of $53.15 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 2.83 and a beta of 0.55. American Electric Power Company, Inc. has a 1 year low of $75.22 and a 1 year high of $105.18. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41.

American Electric Power Increases Dividend

The firm also recently disclosed 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 represents a $3.72 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Friday, November 8th. 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.