Rockefeller Capital Management L.P. raised its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 6.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 114,567 shares of the company's stock after purchasing an additional 6,928 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in American Electric Power were worth $11,753,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. HHM Wealth Advisors LLC increased its stake 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 worth $25,000 after purchasing an additional 103 shares in the last quarter. E Fund Management Co. Ltd. boosted its holdings in shares of American Electric Power by 2.0% in the second quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company's stock valued at $464,000 after acquiring an additional 105 shares in the last quarter. XML Financial LLC raised its position in American Electric Power by 3.8% during the third quarter. XML Financial LLC now owns 2,921 shares of the company's stock worth $300,000 after acquiring an additional 106 shares during the last quarter. Garrison Asset Management LLC grew its holdings in American Electric Power by 0.6% in the third quarter. Garrison Asset Management LLC now owns 19,009 shares of the company's stock valued at $1,950,000 after purchasing an additional 109 shares during the period. Finally, Roanoke Asset Management Corp NY lifted its position in shares of American Electric Power by 2.2% during the third quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company's stock worth $516,000 after purchasing an additional 110 shares in the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on the stock. Jefferies Financial Group initiated 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 objective for the company. BMO Capital Markets upped their price objective on American Electric Power from $104.00 to $108.00 and gave the company an "outperform" rating in a report on Monday. Barclays reduced their price target on American Electric Power from $100.00 to $99.00 and set an "equal weight" rating for the company in a research report on Tuesday, November 26th. Evercore ISI lowered their price objective on American Electric Power from $97.00 to $96.00 and set an "in-line" rating on the stock in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised their price objective on American Electric Power from $108.00 to $112.00 and gave the stock an "overweight" rating in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, American Electric Power has a consensus rating of "Hold" and a consensus price target of $98.20.
View Our Latest Stock Analysis on American Electric Power
Shares of American Electric Power stock opened at $98.22 on Tuesday. The company has a market capitalization of $52.26 billion, a price-to-earnings ratio of 19.68, a P/E/G ratio of 2.88 and a beta of 0.55. The business has a fifty day simple moving average of $98.72 and a two-hundred day simple moving average of $95.82. 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.
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 $0.93 dividend. This is an increase from American Electric Power's previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power's payout ratio is 74.55%.
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.
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