American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Morton Community Bank

Morton Community Bank trimmed its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 1.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,484 shares of the company’s stock after selling 351 shares during the quarter. Morton Community Bank’s holdings in American Electric Power were worth $3,743,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. HHM Wealth Advisors LLC grew its position in American Electric Power by 57.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after acquiring an additional 103 shares in the last quarter. E Fund Management Co. Ltd. grew its position 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 valued at $464,000 after acquiring an additional 105 shares in the last quarter. XML Financial LLC grew its position in American Electric Power by 3.8% in the 3rd quarter. XML Financial LLC now owns 2,921 shares of the company’s stock valued at $300,000 after acquiring an additional 106 shares in the last quarter. Garrison Asset Management LLC grew its position in American Electric Power by 0.6% in the 3rd quarter. Garrison Asset Management LLC now owns 19,009 shares of the company’s stock valued at $1,950,000 after acquiring an additional 109 shares in the last quarter. Finally, Roanoke Asset Management Corp NY grew its position in 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 acquiring an additional 110 shares in the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $99.86 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. American Electric Power Company, Inc. has a twelve month low of $75.22 and a twelve month high of $105.18. The stock has a 50 day moving average of $98.72 and a two-hundred day moving average of $95.79. The stock has a market cap of $53.14 billion, a P/E ratio of 20.01, a P/E/G ratio of 2.88 and a beta of 0.55.

American Electric Power Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be paid a $0.93 dividend. The ex-dividend date is Friday, November 8th. This represents a $3.72 dividend on an annualized basis and a yield of 3.73%. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s payout ratio is currently 74.55%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Bank of America boosted their price objective on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Jefferies Financial Group assumed coverage on American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 price objective for the company. Morgan Stanley lowered their price objective on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. 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. Finally, BMO Capital Markets lowered their price objective on American Electric Power from $111.00 to $104.00 and set an “outperform” 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $97.93.

About American Electric Power

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.