American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Zions Bancorporation N.A.

Zions Bancorporation N.A. cut its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 20.7% in the third quarter, Holdings Channel reports. The firm owned 55,301 shares of the company’s stock after selling 14,469 shares during the period. Zions Bancorporation N.A.’s holdings in American Electric Power were worth $5,674,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of AEP. HHM Wealth Advisors LLC lifted its stake in American Electric Power by 57.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after acquiring an additional 103 shares during the period. LRI Investments LLC purchased a new position in shares of American Electric Power during the 1st quarter valued at approximately $37,000. Briaud Financial Planning Inc increased its holdings in shares of American Electric Power by 52.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Reston Wealth Management LLC purchased a new position in shares of American Electric Power during the 3rd quarter valued at approximately $48,000. Finally, Friedenthal Financial purchased a new position in shares of American Electric Power during the 3rd quarter valued at approximately $50,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Price Performance

AEP stock opened at $93.33 on Thursday. The company has a market capitalization of $49.66 billion, a P/E ratio of 18.70, a PEG ratio of 2.65 and a beta of 0.55. American Electric Power Company, Inc. has a twelve month low of $75.22 and a twelve month high of $105.18. The business has a 50 day simple moving average of $100.04 and a 200-day simple moving average of $95.09. 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be issued a dividend of $0.93 per share. The ex-dividend date is Friday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a dividend yield of 3.99%. American Electric Power’s dividend payout ratio (DPR) is currently 74.55%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AEP shares. Evercore ISI cut 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. UBS Group boosted their price target on shares of American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a report on Thursday, November 7th. Barclays boosted their price target on shares of American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Scotiabank boosted their price target on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Finally, Wells Fargo & Company dropped their target price on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $98.27.

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.