American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Community Trust & Investment Co.

Community Trust & Investment Co. decreased its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 9.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,371 shares of the company’s stock after selling 332 shares during the quarter. Community Trust & Investment Co.’s holdings in American Electric Power were worth $346,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AEP. RFG Advisory LLC purchased a new stake in American Electric Power in the 1st quarter valued at about $211,000. International Assets Investment Management LLC grew its holdings in American Electric Power by 24.3% in the 1st quarter. International Assets Investment Management LLC now owns 4,055 shares of the company’s stock valued at $343,000 after buying an additional 793 shares during the period. AdvisorNet Financial Inc grew its holdings in American Electric Power by 17.3% in the 1st quarter. AdvisorNet Financial Inc now owns 3,511 shares of the company’s stock valued at $302,000 after buying an additional 518 shares during the period. Sunbelt Securities Inc. grew its holdings in American Electric Power by 13.7% in the 1st quarter. Sunbelt Securities Inc. now owns 3,735 shares of the company’s stock valued at $322,000 after buying an additional 451 shares during the period. Finally, Future Financial Wealth Managment LLC purchased a new stake in American Electric Power in the 1st quarter valued at about $41,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AEP. Jefferies Financial Group began coverage on American Electric Power in a report on Friday, September 20th. They set a “hold” rating and a $107.00 target price for the company. Morgan Stanley boosted their target price on American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. BMO Capital Markets boosted their target price on American Electric Power from $109.00 to $114.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Bank of America boosted their target price on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Finally, Wells Fargo & Company upped their price target on American Electric Power from $98.00 to $104.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $98.43.

American Electric Power Stock Performance

AEP stock opened at $99.89 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53. The firm has a market cap of $52.65 billion, a P/E ratio of 18.53, a P/E/G ratio of 2.79 and a beta of 0.54. American Electric Power Company, Inc. has a 12-month low of $72.01 and a 12-month high of $105.18. The stock’s 50 day simple moving average is $100.49 and its 200 day simple moving average is $93.52.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.02. The business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.74 billion. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.13 EPS. As a group, equities research analysts predict that American Electric Power Company, Inc. will post 5.6 EPS for the current year.

American Electric Power Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be paid a dividend of $0.93 per share. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a yield of 3.72%. American Electric Power’s dividend payout ratio is presently 65.31%.

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.