First Financial Bankshares Inc Sells 3,130 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

First Financial Bankshares Inc decreased its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 0.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 606,202 shares of the company’s stock after selling 3,130 shares during the period. American Electric Power comprises about 1.3% of First Financial Bankshares Inc’s investment portfolio, making the stock its 25th biggest holding. First Financial Bankshares Inc owned 0.12% of American Electric Power worth $62,196,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. HHM Wealth Advisors LLC increased its holdings 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 worth $25,000 after purchasing an additional 103 shares in the last quarter. E Fund Management Co. Ltd. grew its holdings in shares of American Electric Power by 2.0% in the second quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock worth $464,000 after acquiring an additional 105 shares during the period. Bank of Stockton grew its holdings in shares of American Electric Power by 2.2% in the second quarter. Bank of Stockton now owns 5,062 shares of the company’s stock worth $444,000 after acquiring an additional 111 shares during the period. First United Bank & Trust grew its holdings in shares of American Electric Power by 17.1% in the third quarter. First United Bank & Trust now owns 766 shares of the company’s stock worth $79,000 after acquiring an additional 112 shares during the period. Finally, Richardson Financial Services Inc. grew its holdings in shares of American Electric Power by 3.9% in the first quarter. Richardson Financial Services Inc. now owns 3,084 shares of the company’s stock worth $266,000 after acquiring an additional 115 shares during the period. Institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

Shares of American Electric Power stock opened at $98.19 on Monday. The stock’s 50-day simple moving average is $100.68 and its 200-day simple moving average is $93.96. 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 $51.76 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 2.79 and a beta of 0.54. 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 (NASDAQ:AEP) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, beating 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 business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the previous year, the business earned $1.13 earnings per share. The business’s revenue was up 4.5% on a year-over-year basis. As a group, analysts expect that American Electric Power Company, Inc. will post 5.6 earnings per share for the current fiscal year.

American Electric Power Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.79%. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, November 8th. American Electric Power’s payout ratio is 69.02%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Bank of America lifted their price objective on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. lifted their price objective on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. 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 price objective for the company. Barclays lifted their price objective on American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Finally, BMO Capital Markets lifted their target price on American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, American Electric Power currently has a consensus rating of “Hold” and an average target price of $98.43.

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.