Smithfield Trust Co Grows Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Smithfield Trust Co lifted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 52.9% during the third quarter, HoldingsChannel reports. The firm owned 737 shares of the company’s stock after purchasing an additional 255 shares during the quarter. Smithfield Trust Co’s holdings in American Electric Power were worth $75,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. HHM Wealth Advisors LLC grew its position in shares of American Electric Power by 57.2% during the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after acquiring an additional 103 shares during the last quarter. LRI Investments LLC boosted its holdings in shares of American Electric Power by 935.9% in the second quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after buying an additional 365 shares during the period. Briaud Financial Planning Inc boosted its holdings in shares of American Electric Power by 52.1% in the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after buying an additional 150 shares during the period. Naples Money Management LLC acquired a new stake in shares of American Electric Power during the second quarter worth approximately $44,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of American Electric Power during the second quarter worth approximately $48,000. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Trading Up 1.0 %

Shares of AEP stock opened at $97.75 on Friday. The company has a market cap of $52.01 billion, a P/E ratio of 19.59, a PEG ratio of 2.79 and a beta of 0.55. The stock has a 50 day simple moving average of $99.24 and a two-hundred day simple moving average of $95.40. 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 Company, Inc. has a fifty-two week low of $75.22 and a fifty-two week high of $105.18.

American Electric Power Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be given a dividend of $0.93 per share. This is a boost 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 dividend yield of 3.81%. American Electric Power’s payout ratio is presently 74.55%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. UBS Group lifted their target price on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research note on Thursday, November 7th. Barclays boosted their target price on shares of American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Evercore ISI decreased their price target on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. BMO Capital Markets reduced their target price on shares of American Electric Power from $111.00 to $104.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Finally, Morgan Stanley boosted their target price on shares of American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Two 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 stock. According to data from MarketBeat, American Electric Power presently has an average rating of “Hold” and an average target price 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.