Equitable Trust Co. Has $1.60 Million Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Equitable Trust Co. increased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 15.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,555 shares of the company’s stock after acquiring an additional 2,050 shares during the period. Equitable Trust Co.’s holdings in American Electric Power were worth $1,596,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AEP. HHM Wealth Advisors LLC boosted its stake 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 in the last quarter. LRI Investments LLC boosted its position in American Electric Power by 935.9% in the second 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 grew its stake in American Electric Power by 52.1% during 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 during the last quarter. Naples Money Management LLC acquired a new stake in shares of American Electric Power during the second quarter worth approximately $44,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of American Electric Power in the second quarter valued at approximately $48,000. Institutional investors own 75.24% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on AEP. Wells Fargo & Company decreased their price target on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Thursday. UBS Group raised their target price on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research note on Thursday. Jefferies Financial Group began coverage on shares of American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 price target on the stock. Bank of America raised 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. Finally, Guggenheim upped their target price on shares of American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $98.27.

American Electric Power Stock Up 1.0 %

NASDAQ:AEP opened at $96.40 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. American Electric Power Company, Inc. has a 12-month low of $74.97 and a 12-month high of $105.18. The stock’s fifty day simple moving average is $100.51 and its 200-day simple moving average is $94.93. The firm has a market capitalization of $51.30 billion, a P/E ratio of 19.32, a P/E/G ratio of 2.74 and a beta of 0.55.

American Electric Power Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be given a dividend of $0.93 per share. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a dividend yield of 3.86%. The ex-dividend date is Friday, November 8th. American Electric Power’s payout ratio is presently 70.54%.

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.