Huntington National Bank Boosts Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Huntington National Bank boosted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 6.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 941,374 shares of the company’s stock after buying an additional 54,503 shares during the period. Huntington National Bank’s holdings in American Electric Power were worth $96,585,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of AEP. HHM Wealth Advisors LLC boosted its holdings in shares of American Electric Power by 57.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after purchasing an additional 103 shares during the last quarter. LRI Investments LLC lifted its holdings in American Electric Power by 935.9% in the second quarter. LRI Investments LLC now owns 404 shares of the company’s stock valued at $35,000 after acquiring an additional 365 shares during the last quarter. Briaud Financial Planning Inc lifted its holdings in American Electric Power by 52.1% in the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after acquiring an additional 150 shares during the last quarter. Naples Money Management LLC acquired a new position in American Electric Power in the second quarter valued at approximately $44,000. Finally, Opal Wealth Advisors LLC acquired a new position in American Electric Power in the second quarter valued at approximately $48,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Price Performance

AEP opened at $93.33 on Thursday. The company has a 50-day moving average of $100.23 and a 200-day moving average of $95.10. The company has a market capitalization of $49.66 billion, a P/E ratio of 18.70, a PEG ratio of 2.65 and a beta of 0.55. American Electric Power Company, Inc. has a 1-year low of $75.22 and a 1-year high of $105.18. 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 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be given a $0.93 dividend. The ex-dividend date is Friday, November 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.99%. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s payout ratio is presently 74.55%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on AEP shares. JPMorgan Chase & Co. upped their price objective on American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Barclays upped their price target on American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Scotiabank upped their price target on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company decreased their price target on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Finally, Guggenheim upped their price objective on American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, American Electric Power has a consensus rating of “Hold” and a consensus target price of $98.27.

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.