UMB Bank n.a. Boosts Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

UMB Bank n.a. raised its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 0.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,760 shares of the company’s stock after acquiring an additional 251 shares during the period. UMB Bank n.a.’s holdings in American Electric Power were worth $4,182,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AEP. USA Financial Formulas grew its holdings in American Electric Power by 1,412.0% during the 3rd quarter. USA Financial Formulas now owns 13,805 shares of the company’s stock valued at $1,416,000 after buying an additional 12,892 shares during the last quarter. Sanibel Captiva Trust Company Inc. grew its holdings in American Electric Power by 4.8% during the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 3,706 shares of the company’s stock valued at $380,000 after buying an additional 169 shares during the last quarter. Wedmont Private Capital lifted its stake in shares of American Electric Power by 5.5% during the 3rd quarter. Wedmont Private Capital now owns 5,054 shares of the company’s stock worth $496,000 after purchasing an additional 265 shares during the period. CWM LLC lifted its stake in shares of American Electric Power by 2.7% during the 3rd quarter. CWM LLC now owns 26,400 shares of the company’s stock worth $2,709,000 after purchasing an additional 692 shares during the period. Finally, Peddock Capital Advisors LLC lifted its stake in shares of American Electric Power by 2.6% during the 3rd quarter. Peddock Capital Advisors LLC now owns 6,699 shares of the company’s stock worth $687,000 after purchasing an additional 167 shares during the period. 75.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Bank of America increased their target price on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. BMO Capital Markets increased their target price on American Electric Power from $109.00 to $114.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Morgan Stanley increased their target price on American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Scotiabank increased their price target on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Finally, Jefferies Financial Group began coverage on American Electric Power in a report on Friday, September 20th. They issued a “hold” rating and a $107.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $96.79.

American Electric Power Trading Down 0.5 %

American Electric Power stock opened at $97.22 on Friday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65. The firm has a market cap of $51.25 billion, a price-to-earnings ratio of 18.04, a price-to-earnings-growth ratio of 2.93 and a beta of 0.54. American Electric Power Company, Inc. has a 1 year low of $72.01 and a 1 year high of $105.18. The firm’s 50 day moving average price is $100.30 and its two-hundred day moving average price is $92.64.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.02. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The firm had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the previous year, the company posted $1.13 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, research analysts predict that American Electric Power Company, Inc. will post 5.6 EPS for the current fiscal year.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend was Friday, August 9th. American Electric Power’s payout ratio is 65.31%.

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.