Peoples Bank OH Sells 1,127 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Peoples Bank OH reduced its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 34.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,164 shares of the company’s stock after selling 1,127 shares during the quarter. Peoples Bank OH’s holdings in American Electric Power were worth $222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of AEP. HHM Wealth Advisors LLC lifted its holdings in shares of American Electric Power by 57.2% during the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after purchasing an additional 103 shares in the last quarter. Denali Advisors LLC bought a new position in shares of American Electric Power during the first quarter valued at $26,000. LRI Investments LLC lifted its holdings in shares of American Electric Power by 935.9% during the second quarter. LRI Investments LLC now owns 404 shares of the company’s stock valued at $35,000 after purchasing an additional 365 shares in the last quarter. Briaud Financial Planning Inc lifted its holdings in shares of American Electric Power by 52.1% during the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in shares of American Electric Power during the first quarter valued at $41,000. 75.24% of the stock is owned by institutional investors.

American Electric Power Stock Down 1.4 %

NASDAQ AEP opened at $99.39 on Friday. The stock’s 50-day moving average price is $100.60 and its 200-day moving average price is $93.68. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53. American Electric Power Company, Inc. has a 52 week low of $74.37 and a 52 week high of $105.18. The company has a market capitalization of $52.39 billion, a P/E ratio of 18.44, a price-to-earnings-growth ratio of 2.79 and a beta of 0.54.

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

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be given a dividend of $0.93 per share. The ex-dividend date is Friday, November 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.74%. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio (DPR) is currently 65.31%.

Analysts Set New Price Targets

AEP has been the topic of a number of research analyst reports. Guggenheim upped their price target on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Barclays increased their target price on American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Jefferies Financial Group assumed coverage on American Electric Power in a report on Friday, September 20th. They issued a “hold” rating and a $107.00 target price on the stock. Morgan Stanley increased their target price on American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Finally, BMO Capital Markets increased their target price on American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $98.43.

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.