OLD National Bancorp IN Increases Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

OLD National Bancorp IN boosted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 3.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,863 shares of the company’s stock after buying an additional 4,374 shares during the period. OLD National Bancorp IN’s holdings in American Electric Power were worth $12,811,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. HHM Wealth Advisors LLC grew its position in shares of American Electric Power by 57.2% in the second 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. Denali Advisors LLC purchased a new position in American Electric Power during the 1st quarter valued at about $26,000. LRI Investments LLC increased its position in shares of American Electric Power by 935.9% during 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 during the period. Briaud Financial Planning Inc lifted its holdings in shares of American Electric Power by 52.1% in 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 in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in shares of American Electric Power in the first quarter valued at approximately $41,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AEP has been the topic of a number of analyst reports. 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 report on Monday, July 22nd. Bank of America upped their price target on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Scotiabank boosted their target price on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company upped their target price on American Electric Power from $98.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Morgan Stanley boosted their price objective on American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $98.43.

American Electric Power Price Performance

Shares of NASDAQ:AEP opened at $100.69 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53. The stock has a market cap of $53.08 billion, a PE ratio of 18.68, a PEG ratio of 2.79 and a beta of 0.54. The company’s fifty day moving average is $100.43 and its 200 day moving average is $93.34. American Electric Power Company, Inc. has a 52 week low of $72.01 and a 52 week high of $105.18.

American Electric Power (NASDAQ:AEP) last released its earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.02. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The company had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the previous year, the company posted $1.13 EPS. American Electric Power’s revenue for the quarter was up 4.5% on a year-over-year basis. Research analysts anticipate that American Electric Power Company, Inc. will post 5.6 earnings per share for the current year.

American Electric Power Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a dividend of $0.88 per share. The ex-dividend date was Friday, August 9th. This represents a $3.52 dividend on an annualized basis and a yield of 3.50%. American Electric Power’s dividend payout ratio is currently 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.