Huntington National Bank Raises Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Huntington National Bank lifted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 6.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 941,374 shares of the company’s stock after buying an additional 54,503 shares during the quarter. Huntington National Bank owned approximately 0.18% of American Electric Power worth $96,585,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in American Electric Power by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 49,630,436 shares of the company’s stock worth $4,273,181,000 after purchasing an additional 405,114 shares during the period. Lazard Asset Management LLC increased its holdings in shares of American Electric Power by 9.9% in the 1st quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company’s stock valued at $739,303,000 after acquiring an additional 776,965 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of American Electric Power by 8.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock valued at $466,191,000 after acquiring an additional 341,846 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of American Electric Power by 1.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,378,543 shares of the company’s stock valued at $296,433,000 after acquiring an additional 35,769 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of American Electric Power by 542.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock valued at $193,541,000 after acquiring an additional 1,927,234 shares during the period. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Stock Performance

NASDAQ AEP opened at $93.33 on Thursday. The stock has a 50-day simple moving average of $100.23 and a two-hundred day simple moving average of $95.10. The firm has a market capitalization of $49.66 billion, a P/E ratio of 18.70, a PEG ratio of 2.65 and a beta of 0.55. American Electric Power Company, Inc. has a fifty-two week low of $75.22 and a fifty-two week high of $105.18. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57.

American Electric Power Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.99%. The ex-dividend date is Friday, November 8th. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s payout ratio is currently 74.55%.

Analyst Ratings Changes

AEP has been the topic of a number of analyst reports. Barclays lifted their price target 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. Wells Fargo & Company lowered their price objective on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Scotiabank raised their price objective on 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. JPMorgan Chase & Co. raised their price objective 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. Finally, Evercore ISI lowered their price objective on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $98.27.

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.