American Electric Power Company, Inc. (NASDAQ:AEP) Shares Acquired by Citizens National Bank Trust Department

Citizens National Bank Trust Department lifted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 1.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,222 shares of the company’s stock after buying an additional 300 shares during the period. Citizens National Bank Trust Department’s holdings in American Electric Power were worth $2,793,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Norden Group LLC bought a new stake in American Electric Power during the first quarter worth approximately $419,000. Private Advisor Group LLC increased its holdings in shares of American Electric Power by 4.9% in the first quarter. Private Advisor Group LLC now owns 56,300 shares of the company’s stock valued at $4,847,000 after buying an additional 2,607 shares in the last quarter. Diversify Advisory Services LLC bought a new position in shares of American Electric Power in the first quarter valued at $246,000. Janney Montgomery Scott LLC increased its holdings in shares of American Electric Power by 19.3% in the first quarter. Janney Montgomery Scott LLC now owns 173,564 shares of the company’s stock valued at $14,944,000 after buying an additional 28,022 shares in the last quarter. Finally, Choreo LLC increased its holdings in shares of American Electric Power by 20.5% in the first quarter. Choreo LLC now owns 7,594 shares of the company’s stock valued at $654,000 after buying an additional 1,292 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AEP. Barclays upped their price target on American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. BMO Capital Markets upped their price target on American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Scotiabank boosted their target price on shares of American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Jefferies Financial Group initiated coverage on shares of American Electric Power in a research note on Friday, September 20th. They set a “hold” rating and a $107.00 target price on the stock. Finally, Guggenheim boosted their target price on shares of American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $98.43.

American Electric Power Trading Down 1.5 %

American Electric Power stock opened at $97.25 on Monday. The company’s fifty day simple moving average is $100.68 and its 200-day simple moving average is $94.54. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53. American Electric Power Company, Inc. has a 12 month low of $74.97 and a 12 month high of $105.18. The stock has a market cap of $51.75 billion, a P/E ratio of 19.37, a P/E/G ratio of 2.82 and a beta of 0.55.

American Electric Power Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be issued a $0.93 dividend. The ex-dividend date of this dividend is Friday, November 8th. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a yield of 3.83%. American Electric Power’s dividend payout ratio is currently 70.12%.

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.