American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by AMG National Trust Bank

AMG National Trust Bank decreased its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 2.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,016 shares of the company’s stock after selling 515 shares during the quarter. AMG National Trust Bank’s holdings in American Electric Power were worth $2,259,000 as of its most recent SEC filing.

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

American Electric Power Trading Up 0.2 %

Shares of AEP stock opened at $96.49 on Tuesday. American Electric Power Company, Inc. has a 1-year low of $75.22 and a 1-year high of $105.18. The firm’s 50-day simple moving average is $99.60 and its 200-day simple moving average is $95.32. The firm has a market cap of $51.34 billion, a P/E ratio of 19.34, a PEG ratio of 2.78 and a beta of 0.55. 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be given a $0.93 dividend. The ex-dividend date is Friday, November 8th. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.86%. American Electric Power’s dividend payout ratio (DPR) is 74.55%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AEP shares. Wells Fargo & Company decreased 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 research note on Thursday, November 7th. Bank of America lifted their target price on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Barclays boosted their target price on American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Morgan Stanley lifted their price objective on shares of American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Finally, Jefferies Financial Group began 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. Two equities research 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $98.27.

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.