American Electric Power Company, Inc. (NASDAQ:AEP) Shares Bought by Fiduciary Trust Co

Fiduciary Trust Co raised its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 3.0% in the third quarter, Holdings Channel reports. The fund owned 40,147 shares of the company’s stock after buying an additional 1,159 shares during the period. Fiduciary Trust Co’s holdings in American Electric Power were worth $4,119,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. HHM Wealth Advisors LLC raised its holdings in American Electric Power by 57.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after acquiring an additional 103 shares during the last quarter. E Fund Management Co. Ltd. increased its holdings in shares of American Electric Power by 2.0% during the 2nd quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock worth $464,000 after buying an additional 105 shares during the last quarter. XML Financial LLC increased its holdings in shares of American Electric Power by 3.8% during the 3rd quarter. XML Financial LLC now owns 2,921 shares of the company’s stock worth $300,000 after buying an additional 106 shares during the last quarter. Garrison Asset Management LLC increased its holdings in shares of American Electric Power by 0.6% during the 3rd quarter. Garrison Asset Management LLC now owns 19,009 shares of the company’s stock worth $1,950,000 after buying an additional 109 shares during the last quarter. Finally, Roanoke Asset Management Corp NY increased its holdings in shares of American Electric Power by 2.2% during the 3rd quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock worth $516,000 after buying an additional 110 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Stock Performance

Shares of AEP stock opened at $99.89 on Friday. The stock has a market capitalization of $53.15 billion, a PE ratio of 20.02, a P/E/G ratio of 2.83 and a beta of 0.55. The firm has a 50 day moving average of $98.77 and a two-hundred day moving average of $95.70. American Electric Power Company, Inc. has a 52 week low of $75.22 and a 52 week high of $105.18. The company has a quick ratio of 0.41, a current ratio of 0.57 and a debt-to-equity ratio of 1.47.

American Electric Power Increases Dividend

The business also recently declared 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 is a positive change from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.72%. The ex-dividend date is Friday, November 8th. American Electric Power’s dividend payout ratio (DPR) is currently 74.55%.

Wall Street Analyst Weigh In

AEP has been the subject of a number of recent analyst reports. Wells Fargo & Company cut their price target on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. BMO Capital Markets cut their price target on shares of American Electric Power from $111.00 to $104.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Morgan Stanley cut their price target on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Bank of America increased their price objective on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Finally, Evercore ISI lowered their price objective on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $97.93.

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.