First National Bank of Mount Dora Trust Investment Services Sells 760 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

First National Bank of Mount Dora Trust Investment Services lessened its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 4.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 17,275 shares of the company’s stock after selling 760 shares during the period. First National Bank of Mount Dora Trust Investment Services’ holdings in American Electric Power were worth $1,593,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp raised its holdings in American Electric Power by 4.3% in the third quarter. State Street Corp now owns 26,902,755 shares of the company’s stock worth $2,760,223,000 after purchasing an additional 1,114,954 shares in the last quarter. Geode Capital Management LLC increased its holdings in American Electric Power by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 12,524,692 shares of the company’s stock worth $1,280,655,000 after buying an additional 352,588 shares in the last quarter. FMR LLC increased its holdings in American Electric Power by 18.8% in the 3rd quarter. FMR LLC now owns 6,866,952 shares of the company’s stock worth $704,549,000 after buying an additional 1,087,163 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in American Electric Power by 8.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock worth $466,191,000 after purchasing an additional 341,846 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in American Electric Power by 109.5% in the third quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock worth $385,079,000 after purchasing an additional 1,962,125 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

American Electric Power Trading Up 0.4 %

Shares of NASDAQ AEP opened at $97.25 on Friday. 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 stock has a market capitalization of $51.75 billion, a P/E ratio of 19.49, a price-to-earnings-growth ratio of 2.58 and a beta of 0.56. American Electric Power Company, Inc. has a 1-year low of $75.22 and a 1-year high of $105.18. The business has a fifty day moving average price of $94.51 and a 200 day moving average price of $96.77.

American Electric Power Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were paid a dividend of $0.93 per share. 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 dividend yield of 3.83%. The ex-dividend date was Friday, November 8th. American Electric Power’s dividend payout ratio is 74.55%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on AEP shares. Scotiabank cut American Electric Power from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $105.00 to $102.00 in a research report on Thursday, December 12th. Jefferies Financial Group assumed coverage on 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. Barclays reduced their price objective on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 26th. UBS Group lifted their price objective on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research note on Thursday, November 7th. Finally, BMO Capital Markets cut their target price on American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $98.00.

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.