Peapack Gladstone Financial Corp Sells 204 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Peapack Gladstone Financial Corp reduced its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 0.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,677 shares of the company’s stock after selling 204 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in American Electric Power were worth $5,197,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Wilmington Savings Fund Society FSB bought a new stake in American Electric Power during the 3rd quarter worth about $589,000. Sfmg LLC bought a new position in shares of American Electric Power in the third quarter worth about $221,000. World Investment Advisors LLC lifted its position in shares of American Electric Power by 127.8% during the third quarter. World Investment Advisors LLC now owns 5,539 shares of the company’s stock worth $568,000 after purchasing an additional 3,108 shares in the last quarter. Tudor Financial Inc. bought a new stake in shares of American Electric Power during the third quarter valued at approximately $1,331,000. Finally, Chelsea Counsel Co. increased its holdings in shares of American Electric Power by 46.1% in the third quarter. Chelsea Counsel Co. now owns 1,110 shares of the company’s stock valued at $114,000 after purchasing an additional 350 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Price Performance

Shares of AEP stock opened at $92.71 on Friday. The company has a quick ratio of 0.41, 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 $75.22 and a 12-month high of $105.18. The firm has a fifty day moving average of $97.50 and a 200-day moving average of $96.06. The firm has a market capitalization of $49.33 billion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 2.70 and a beta of 0.55.

American Electric Power Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th were issued a $0.93 dividend. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend was Friday, November 8th. American Electric Power’s dividend payout ratio is 74.55%.

Analyst Upgrades and Downgrades

AEP has been the topic of several research reports. Wells Fargo & Company reduced their price objective on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Jefferies Financial Group initiated coverage on American Electric Power in a research note on Friday, September 20th. They set a “hold” rating and a $107.00 price target on the stock. Barclays lowered their price objective on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 26th. UBS Group boosted their price objective on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a report on Thursday, November 7th. Finally, Morgan Stanley reduced their target price on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $97.13.

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.