Quest Partners LLC Invests $377,000 in American Electric Power Company, Inc. (NASDAQ:AEP)

Quest Partners LLC bought a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 3,678 shares of the company’s stock, valued at approximately $377,000.

A number of other hedge funds have also recently modified their holdings of AEP. Allspring Global Investments Holdings LLC lifted its stake in American Electric Power by 8.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock valued at $466,191,000 after buying an additional 341,846 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in American Electric Power by 1.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 3,378,543 shares of the company’s stock worth $296,433,000 after purchasing an additional 35,769 shares during the period. Pathway Financial Advisers LLC grew its position in American Electric Power by 10,177.1% during the 3rd 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. Raymond James & Associates increased its stake in American Electric Power by 51.1% in the second quarter. Raymond James & Associates now owns 1,844,968 shares of the company’s stock valued at $161,877,000 after purchasing an additional 623,789 shares during the period. Finally, Swiss National Bank raised its holdings in shares of American Electric Power by 0.4% in the third quarter. Swiss National Bank now owns 1,564,600 shares of the company’s stock valued at $160,528,000 after buying an additional 6,700 shares during the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Stock Performance

NASDAQ AEP opened at $97.59 on Monday. The business has a 50 day moving average price of $99.11 and a 200 day moving average price of $95.54. The company 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. 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Friday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s payout ratio is 74.55%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AEP shares. JPMorgan Chase & Co. boosted their price target on American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Wells Fargo & Company cut their price target on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Scotiabank lifted their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Morgan Stanley cut their price objective on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Evercore ISI lowered their target price on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. Two equities 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.com, American Electric Power currently has a consensus rating of “Hold” and a consensus target price of $98.00.

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.