Peapack Gladstone Financial Corp Has $5.20 Million Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Peapack Gladstone Financial Corp decreased its position 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 firm 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.

Other institutional investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in shares of American Electric Power during the third quarter worth about $589,000. Sfmg LLC acquired a new position in American Electric Power during the 3rd quarter worth approximately $221,000. World Investment Advisors LLC grew its stake in shares of American Electric Power by 127.8% during the 3rd quarter. World Investment Advisors LLC now owns 5,539 shares of the company’s stock worth $568,000 after acquiring an additional 3,108 shares in the last quarter. Tudor Financial Inc. acquired a new stake in shares of American Electric Power in the third quarter valued at approximately $1,331,000. Finally, Chelsea Counsel Co. lifted its position 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 worth $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 Trading Down 0.2 %

AEP stock opened at $92.71 on Friday. American Electric Power Company, Inc. has a one year low of $75.22 and a one year high of $105.18. The stock has a market cap 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. The company has a fifty day moving average price of $97.50 and a two-hundred day moving average price of $96.06. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41.

American Electric Power Increases Dividend

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

Analysts Set New Price Targets

AEP has been the subject of a number of analyst reports. UBS Group raised their target price on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. 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 report on Friday, November 22nd. Wells Fargo & Company reduced their price target on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Bank of America boosted their price target 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. Finally, Barclays cut their price objective on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday, November 26th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $97.13.

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.