American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Harbour Trust & Investment Management Co

Harbour Trust & Investment Management Co lowered its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 15.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,582 shares of the company’s stock after selling 675 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in American Electric Power were worth $368,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AEP. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of American Electric Power by 542.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock worth $193,541,000 after purchasing an additional 1,927,234 shares during the last quarter. Nordea Investment Management AB increased its position in shares of American Electric Power by 381.9% in the 1st quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock worth $171,127,000 after purchasing an additional 1,581,734 shares during the last quarter. National Bank of Canada FI increased its position in shares of American Electric Power by 221.9% in the 1st quarter. National Bank of Canada FI now owns 1,715,346 shares of the company’s stock worth $157,140,000 after purchasing an additional 1,182,451 shares during the last quarter. Zimmer Partners LP increased its position in shares of American Electric Power by 578.2% in the 1st quarter. Zimmer Partners LP now owns 975,000 shares of the company’s stock worth $83,948,000 after purchasing an additional 831,235 shares during the last quarter. Finally, Jennison Associates LLC bought a new stake in shares of American Electric Power in the 1st quarter worth about $67,669,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AEP. BMO Capital Markets boosted their target price on shares of American Electric Power from $109.00 to $114.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Wells Fargo & Company boosted their price objective on shares of American Electric Power from $98.00 to $104.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Guggenheim boosted their price objective on shares of American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. boosted their price objective on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Finally, Bank of America boosted their price objective on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, American Electric Power presently has an average rating of “Hold” and a consensus price target of $98.43.

American Electric Power Trading Down 1.4 %

Shares of NASDAQ:AEP opened at $99.39 on Friday. The company has a 50 day moving average of $100.65 and a 200-day moving average of $93.72. The firm has a market cap of $52.39 billion, a P/E ratio of 18.44, a P/E/G ratio of 2.79 and a beta of 0.54. American Electric Power Company, Inc. has a twelve month low of $74.37 and a twelve month high of $105.18. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. The company had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.74 billion. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.13 EPS. As a group, analysts anticipate that American Electric Power Company, Inc. will post 5.6 earnings per share for the current fiscal year.

American Electric Power Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be paid a $0.93 dividend. 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 3.74%. The ex-dividend date is Friday, November 8th. American Electric Power’s dividend payout ratio is currently 65.31%.

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.