2,031 Shares in American Electric Power Company, Inc. (NASDAQ:AEP) Purchased by MTM Investment Management LLC

MTM Investment Management LLC bought a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,031 shares of the company’s stock, valued at approximately $204,000.

A number of other hedge funds have also made changes to their positions in the stock. HHM Wealth Advisors LLC raised its holdings in shares of American Electric Power by 57.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after purchasing an additional 103 shares in the last quarter. E Fund Management Co. Ltd. raised its holdings in American Electric Power by 2.0% during the second quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock valued at $464,000 after buying an additional 105 shares in the last quarter. XML Financial LLC lifted its position in shares of American Electric Power by 3.8% in the third quarter. XML Financial LLC now owns 2,921 shares of the company’s stock worth $300,000 after buying an additional 106 shares during the last quarter. Garrison Asset Management LLC boosted its stake in shares of American Electric Power by 0.6% during the 3rd quarter. Garrison Asset Management LLC now owns 19,009 shares of the company’s stock worth $1,950,000 after acquiring an additional 109 shares in the last quarter. Finally, Roanoke Asset Management Corp NY increased its holdings in shares of American Electric Power by 2.2% during the 3rd quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock valued at $516,000 after acquiring an additional 110 shares during the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price 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. UBS Group boosted their target price on shares of American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research report on Thursday, November 7th. Scotiabank upped their price target on shares of American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Barclays lifted their price objective on American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Finally, Jefferies Financial Group started coverage on American Electric Power in a research note on Friday, September 20th. They set a “hold” rating and a $107.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $98.27.

American Electric Power Stock Performance

NASDAQ AEP opened at $96.70 on Wednesday. American Electric Power Company, Inc. has a twelve month low of $75.22 and a twelve month high of $105.18. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. The stock has a market cap of $51.46 billion, a P/E ratio of 19.38, a PEG ratio of 2.78 and a beta of 0.55. The company’s 50-day simple moving average is $99.47 and its 200 day simple moving average is $95.38.

American Electric Power Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.85%. 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 (DPR) is 74.55%.

About American Electric Power

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.