Orrstown Financial Services Inc. Sells 170 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Orrstown Financial Services Inc. lessened its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 5.6% during the 4th quarter, Holdings Channel reports. The firm owned 2,857 shares of the company’s stock after selling 170 shares during the quarter. Orrstown Financial Services Inc.’s holdings in American Electric Power were worth $264,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. XML Financial LLC lifted its holdings in American Electric Power by 3.8% during the third quarter. XML Financial LLC now owns 2,921 shares of the company’s stock worth $300,000 after acquiring an additional 106 shares in the last quarter. PSI Advisors LLC lifted its holdings in shares of American Electric Power by 10.6% during the 4th quarter. PSI Advisors LLC now owns 1,113 shares of the company’s stock valued at $103,000 after purchasing an additional 107 shares in the last quarter. Garrison Asset Management LLC grew its position in shares of American Electric Power by 0.6% in the 3rd quarter. Garrison Asset Management LLC now owns 19,009 shares of the company’s stock valued at $1,950,000 after purchasing an additional 109 shares during the period. Roanoke Asset Management Corp NY increased its stake in American Electric Power by 2.2% during the 3rd quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock worth $516,000 after purchasing an additional 110 shares in the last quarter. Finally, First United Bank & Trust raised its holdings in American Electric Power by 17.1% during the 3rd quarter. First United Bank & Trust now owns 766 shares of the company’s stock worth $79,000 after buying an additional 112 shares during the period. 75.24% of the stock is owned by institutional investors.

American Electric Power Stock Performance

NASDAQ AEP traded down $0.90 on Wednesday, hitting $99.10. 169,242 shares of the stock traded hands, compared to its average volume of 3,276,449. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. The firm has a market capitalization of $52.74 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 2.77 and a beta of 0.56. American Electric Power Company, Inc. has a 12 month low of $75.22 and a 12 month high of $105.18. The business’s fifty day moving average is $95.06 and its two-hundred day moving average is $97.47.

American Electric Power Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date is Monday, February 10th. American Electric Power’s dividend payout ratio (DPR) is presently 74.55%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AEP shares. BMO Capital Markets lowered their price objective on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Morgan Stanley decreased their price objective on American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. UBS Group upped their price target on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research report on Thursday, November 7th. Evercore ISI lowered their price objective on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. Finally, Scotiabank downgraded shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the company from $105.00 to $102.00 in a research report on Thursday, December 12th. One equities research analyst has 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, American Electric Power currently has a consensus rating of “Hold” and an average target price of $98.00.

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.