Community Bank N.A. Lowers Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Community Bank N.A. lessened its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,592 shares of the company’s stock after selling 430 shares during the period. Community Bank N.A.’s holdings in American Electric Power were worth $3,960,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. HHM Wealth Advisors LLC grew its position in American Electric Power by 57.2% in the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after acquiring an additional 103 shares in the last quarter. LRI Investments LLC raised its holdings in shares of American Electric Power by 935.9% during the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock valued at $35,000 after buying an additional 365 shares in the last quarter. Briaud Financial Planning Inc boosted its stake in American Electric Power by 52.1% in the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after buying an additional 150 shares in the last quarter. Reston Wealth Management LLC purchased a new position in shares of American Electric Power during the third quarter worth approximately $48,000. Finally, Friedenthal Financial purchased a new stake in shares of American Electric Power in the 3rd quarter valued at $50,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target 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. Evercore ISI dropped their target price on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. Jefferies Financial Group started coverage on American Electric Power in a research note on Friday, September 20th. They issued a “hold” rating and a $107.00 price target on the stock. UBS Group increased their price objective on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research note on Thursday, November 7th. Finally, Barclays decreased their target price on shares of American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $97.93.

American Electric Power Stock Performance

Shares of AEP stock opened at $99.86 on Monday. The company’s fifty day moving average price is $98.72 and its 200-day moving average price is $95.82. The stock has a market cap of $53.14 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 2.88 and a beta of 0.55. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. American Electric Power Company, Inc. has a 12 month low of $75.22 and a 12 month high of $105.18.

American Electric Power Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be paid a dividend of $0.93 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.72 annualized dividend and a yield of 3.73%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s payout ratio is presently 74.55%.

American Electric Power Company 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.