Commerce Bank Buys 15,925 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Commerce Bank grew its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 3.5% in the third quarter, HoldingsChannel.com reports. The fund owned 473,828 shares of the company’s stock after acquiring an additional 15,925 shares during the period. Commerce Bank’s holdings in American Electric Power were worth $48,615,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AEP. HHM Wealth Advisors LLC grew its position in shares of American Electric Power by 57.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after purchasing an additional 103 shares during the period. LRI Investments LLC acquired a new position in shares of American Electric Power in the 1st quarter valued at approximately $37,000. Briaud Financial Planning Inc grew its position in shares of American Electric Power by 52.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after purchasing an additional 150 shares during the period. Reston Wealth Management LLC acquired a new position in shares of American Electric Power in the 3rd quarter valued at approximately $48,000. Finally, Friedenthal Financial acquired a new position in shares of American Electric Power in the 3rd quarter valued at approximately $50,000. 75.24% of the stock is owned by institutional investors.

American Electric Power Stock Up 0.2 %

AEP opened at $96.70 on Wednesday. American Electric Power Company, Inc. has a 1-year low of $75.22 and a 1-year high of $105.18. The stock’s fifty day simple moving average is $99.47 and its 200 day simple moving average is $95.38. 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 cap of $51.46 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 2.78 and a beta of 0.55.

American Electric Power Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be given a dividend of $0.93 per share. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, November 8th. This represents a $3.72 annualized dividend and a yield of 3.85%. American Electric Power’s dividend payout ratio (DPR) is presently 74.55%.

Analyst Ratings Changes

A number of research firms have weighed in on AEP. BMO Capital Markets reduced their price target on American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Morgan Stanley upped their price target on American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Evercore ISI reduced their price target 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. Jefferies Financial Group began coverage on American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 price target for the company. Finally, 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. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $98.27.

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.