First Bank & Trust Decreases Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

First Bank & Trust decreased its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 2.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 30,763 shares of the company’s stock after selling 806 shares during the period. First Bank & Trust’s holdings in American Electric Power were worth $3,156,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of AEP. Hodges Capital Management Inc. acquired a new stake in shares of American Electric Power in the first quarter valued at about $1,615,000. Quantbot Technologies LP acquired a new stake in American Electric Power in the first quarter valued at approximately $1,731,000. Nordea Investment Management AB raised its stake in shares of American Electric Power by 381.9% during the first quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock valued at $171,127,000 after purchasing an additional 1,581,734 shares during the period. Mizuho Markets Americas LLC lifted its position in shares of American Electric Power by 646.9% during the first quarter. Mizuho Markets Americas LLC now owns 261,440 shares of the company’s stock worth $22,510,000 after purchasing an additional 226,435 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of American Electric Power by 21.7% in the first quarter. ProShare Advisors LLC now owns 582,692 shares of the company’s stock valued at $50,170,000 after purchasing an additional 103,771 shares during the period. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Performance

NASDAQ AEP traded down $1.20 on Friday, hitting $98.19. The stock had a trading volume of 2,338,992 shares, compared to its average volume of 3,116,072. The company’s 50-day moving average is $100.68 and its two-hundred day moving average is $93.82. The stock has a market cap of $51.76 billion, a price-to-earnings ratio of 18.22, a P/E/G ratio of 2.79 and a beta of 0.54. 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 one year low of $74.37 and a one year high of $105.18.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data 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. The business had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.74 billion. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The company’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.13 earnings per share. On average, analysts expect that American Electric Power Company, Inc. will post 5.6 earnings per share for the current year.

American Electric Power Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend is Friday, November 8th. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio (DPR) is currently 69.02%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Barclays lifted 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 research note on Tuesday, October 15th. Wells Fargo & Company lifted their target price on American Electric Power from $98.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price target on American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Jefferies Financial Group started coverage on American Electric Power in a research note on Friday, September 20th. They set a “hold” rating and a $107.00 price objective for the company. Finally, Bank of America upped their target price on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $98.43.

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.