Cadence Bank Sells 1,582 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Cadence Bank lessened its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 17.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,506 shares of the company’s stock after selling 1,582 shares during the quarter. Cadence Bank’s holdings in American Electric Power were worth $770,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AEP. HHM Wealth Advisors LLC raised its holdings in 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 buying an additional 103 shares during the last quarter. LRI Investments LLC raised its holdings in American Electric Power by 935.9% during the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after purchasing an additional 365 shares during the last quarter. Briaud Financial Planning Inc raised its holdings in American Electric Power by 52.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after purchasing an additional 150 shares during the last quarter. Naples Money Management LLC bought a new position in American Electric Power during the 2nd quarter worth approximately $44,000. Finally, Opal Wealth Advisors LLC bought a new position in American Electric Power during the 2nd quarter worth approximately $48,000. Institutional investors own 75.24% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on AEP. Evercore ISI lowered their price target on shares of 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. BMO Capital Markets lowered their price target on shares of American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their price target on shares of American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Wells Fargo & Company lowered their price objective on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Finally, UBS Group lifted their price objective on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $97.93.

American Electric Power Price Performance

AEP opened at $99.89 on Thursday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. The company has a market capitalization of $53.15 billion, a price-to-earnings ratio of 20.02, a P/E/G ratio of 2.83 and a beta of 0.55. The firm’s fifty day moving average price is $98.81 and its two-hundred day moving average price is $95.67. American Electric Power Company, Inc. has a 1 year low of $75.22 and a 1 year high of $105.18.

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 issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.72%. This is an increase 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 currently 74.55%.

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.