Equitable Trust Co. Purchases 2,050 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Equitable Trust Co. boosted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 15.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,555 shares of the company’s stock after acquiring an additional 2,050 shares during the period. Equitable Trust Co.’s holdings in American Electric Power were worth $1,596,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. HHM Wealth Advisors LLC boosted its holdings in shares of 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 buying an additional 103 shares during the period. E Fund Management Co. Ltd. boosted its stake 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 worth $464,000 after purchasing an additional 105 shares during the period. Garrison Asset Management LLC increased its holdings 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 in the last quarter. Roanoke Asset Management Corp NY raised its stake in shares of American Electric Power by 2.2% in the 3rd 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. Finally, Bank of Stockton lifted its holdings in shares of American Electric Power by 2.2% in the second quarter. Bank of Stockton now owns 5,062 shares of the company’s stock valued at $444,000 after purchasing an additional 111 shares in the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on AEP shares. Guggenheim increased their price objective on American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Barclays lifted their price objective on shares of American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. UBS Group increased their target price on shares of American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a report on Thursday. 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 report on Thursday. Finally, Scotiabank boosted their price target on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, American Electric Power currently has a consensus rating of “Hold” and an average price target of $98.27.

American Electric Power Stock Performance

AEP opened at $96.40 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. American Electric Power Company, Inc. has a 12-month low of $74.97 and a 12-month high of $105.18. The business has a 50 day moving average of $100.51 and a 200-day moving average of $94.93. The stock has a market cap of $51.30 billion, a price-to-earnings ratio of 19.32, a PEG ratio of 2.74 and a beta of 0.55.

American Electric Power Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.93 per share. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.72 annualized dividend and a yield of 3.86%. American Electric Power’s dividend payout ratio (DPR) is currently 70.54%.

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.