Private Trust Co. NA Lowers Stock Holdings in American Electric Power Company Inc (NYSE:AEP)

Private Trust Co. NA trimmed its position in American Electric Power Company Inc (NYSE:AEP) by 3.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,017 shares of the utilities provider’s stock after selling 186 shares during the quarter. Private Trust Co. NA’s holdings in American Electric Power were worth $563,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. IMA Wealth Inc. bought a new position in shares of American Electric Power in the second quarter worth approximately $30,000. JJJ Advisors Inc. bought a new position in shares of American Electric Power in the second quarter worth approximately $31,000. Glassman Wealth Services increased its position in shares of American Electric Power by 138.0% in the first quarter. Glassman Wealth Services now owns 388 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 225 shares during the last quarter. Weaver Consulting Group bought a new position in shares of American Electric Power in the first quarter worth approximately $32,000. Finally, Tarbox Family Office Inc. grew its position in American Electric Power by 38.9% during the second quarter. Tarbox Family Office Inc. now owns 436 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 122 shares during the last quarter. 73.83% of the stock is currently owned by hedge funds and other institutional investors.

Shares of American Electric Power stock traded down $0.02 on Thursday, hitting $92.11. The stock had a trading volume of 61,102 shares, compared to its average volume of 2,328,537. The company has a quick ratio of 0.36, a current ratio of 0.49 and a debt-to-equity ratio of 1.29. American Electric Power Company Inc has a one year low of $69.31 and a one year high of $94.89. The stock has a market cap of $46.26 billion, a price-to-earnings ratio of 23.31, a PEG ratio of 4.00 and a beta of 0.09. The stock’s 50-day simple moving average is $91.72 and its two-hundred day simple moving average is $88.21.

American Electric Power (NYSE:AEP) last issued its earnings results on Thursday, July 25th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. American Electric Power had a net margin of 12.53% and a return on equity of 10.69%. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same quarter last year, the business earned $1.01 earnings per share. The business’s revenue was down 10.0% on a year-over-year basis. As a group, equities analysts predict that American Electric Power Company Inc will post 4.14 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 2.91%. The ex-dividend date was Thursday, August 8th. American Electric Power’s dividend payout ratio is 67.85%.

In other news, VP Brian X. Tierney sold 4,458 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $89.73, for a total value of $400,016.34. Following the transaction, the vice president now owns 39,745 shares in the company, valued at $3,566,318.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charles E. Zebula sold 1,216 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $90.98, for a total transaction of $110,631.68. Following the completion of the transaction, the insider now owns 7,420 shares in the company, valued at approximately $675,071.60. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by company insiders.

A number of research analysts have commented on AEP shares. Bank of America reiterated a “buy” rating and set a $98.00 price target (up from $93.00) on shares of American Electric Power in a research report on Tuesday, July 9th. Zacks Investment Research upgraded shares of American Electric Power from a “sell” rating to a “hold” rating and set a $96.00 price target on the stock in a research report on Thursday, July 11th. Morgan Stanley increased their price target on shares of American Electric Power from $91.00 to $97.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. ValuEngine cut shares of American Electric Power from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Mizuho increased their price target on shares of American Electric Power from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $92.45.

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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

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Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

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