Rockefeller Capital Management L.P. Purchases 6,928 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Rockefeller Capital Management L.P. raised its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 6.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 114,567 shares of the company’s stock after acquiring an additional 6,928 shares during the period. Rockefeller Capital Management L.P.’s holdings in American Electric Power were worth $11,753,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Martingale Asset Management L P grew its holdings in shares of American Electric Power by 1,407.1% in the 3rd quarter. Martingale Asset Management L P now owns 112,820 shares of the company’s stock valued at $11,575,000 after acquiring an additional 105,334 shares in the last quarter. Northwest & Ethical Investments L.P. boosted its position in American Electric Power by 31.9% during the third quarter. Northwest & Ethical Investments L.P. now owns 225,992 shares of the company’s stock valued at $23,187,000 after purchasing an additional 54,671 shares during the last quarter. Financial Counselors Inc. grew its stake in American Electric Power by 0.3% in the third quarter. Financial Counselors Inc. now owns 67,064 shares of the company’s stock valued at $6,881,000 after purchasing an additional 194 shares in the last quarter. Public Sector Pension Investment Board increased its position in shares of American Electric Power by 3.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 92,851 shares of the company’s stock worth $9,527,000 after purchasing an additional 3,440 shares during the last quarter. Finally, Fiduciary Trust Co raised its stake in shares of American Electric Power by 3.0% during the 3rd quarter. Fiduciary Trust Co now owns 40,147 shares of the company’s stock worth $4,119,000 after purchasing an additional 1,159 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analyst Ratings Changes

AEP has been the subject of several analyst reports. Scotiabank raised their target price on shares of 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. Evercore ISI lowered their price objective on shares of 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. Jefferies Financial Group started coverage on shares of American Electric Power in a research note on Friday, September 20th. They issued a “hold” rating and a $107.00 target price for the company. Barclays lowered their price target on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 26th. Finally, Bank of America raised their price objective on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, American Electric Power currently has an average rating of “Hold” and an average target price of $98.20.

American Electric Power Stock Down 1.6 %

AEP opened at $98.22 on Tuesday. The stock has a fifty day moving average of $98.72 and a 200-day moving average of $95.82. The company has a market capitalization of $52.26 billion, a P/E ratio of 20.01, a P/E/G ratio of 2.88 and a beta of 0.55. American Electric Power Company, Inc. has a fifty-two week low of $75.22 and a fifty-two week high of $105.18. 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 firm also recently disclosed 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 is a boost from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, November 8th. This represents a $3.72 annualized dividend and a yield of 3.79%. American Electric Power’s payout ratio is 74.55%.

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.