American Electric Power Company, Inc. (NASDAQ:AEP) Stock Holdings Increased by Grove Bank & Trust

Grove Bank & Trust raised its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 436.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,092 shares of the company’s stock after buying an additional 5,771 shares during the period. Grove Bank & Trust’s holdings in American Electric Power were worth $654,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in shares of American Electric Power by 10.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,459,848 shares of the company’s stock worth $128,094,000 after acquiring an additional 141,556 shares in the last quarter. Ieq Capital LLC raised its stake in American Electric Power by 53.1% during the 2nd quarter. Ieq Capital LLC now owns 21,794 shares of the company’s stock valued at $1,912,000 after purchasing an additional 7,562 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of American Electric Power by 2.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 9,616 shares of the company’s stock valued at $844,000 after purchasing an additional 186 shares in the last quarter. Bridges Investment Management Inc. boosted its position in shares of American Electric Power by 71.6% in the second quarter. Bridges Investment Management Inc. now owns 4,495 shares of the company’s stock worth $394,000 after buying an additional 1,875 shares during the period. Finally, King Luther Capital Management Corp grew its holdings in shares of American Electric Power by 10.8% during the second quarter. King Luther Capital Management Corp now owns 6,255 shares of the company’s stock valued at $549,000 after buying an additional 608 shares in the last quarter. Institutional investors own 75.24% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Morgan Stanley lowered their target price on 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. BMO Capital Markets cut their target price on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Barclays lowered their price target on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 26th. Evercore ISI reduced 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. Finally, Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $105.00 to $102.00 in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $98.00.

American Electric Power Price Performance

Shares of American Electric Power stock opened at $97.25 on Monday. American Electric Power Company, Inc. has a 1-year low of $75.22 and a 1-year high of $105.18. The firm has a fifty day simple moving average of $94.52 and a 200-day simple moving average of $96.91. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $51.75 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 2.58 and a beta of 0.56.

American Electric Power Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were paid a $0.93 dividend. The ex-dividend date was Friday, November 8th. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.83%. American Electric Power’s payout ratio is presently 74.55%.

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.