Thomasville National Bank Reduces Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Thomasville National Bank trimmed its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 13.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,329 shares of the company’s stock after selling 499 shares during the quarter. Thomasville National Bank’s holdings in American Electric Power were worth $307,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in AEP. Legacy Investment Solutions LLC purchased a new stake in American Electric Power in the 3rd quarter worth approximately $25,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of American Electric Power in the third quarter worth $33,000. Reston Wealth Management LLC bought a new stake in American Electric Power during the third quarter valued at $48,000. Future Financial Wealth Managment LLC purchased a new position in American Electric Power during the third quarter worth about $50,000. Finally, Friedenthal Financial bought a new position in American Electric Power in the 3rd quarter worth about $50,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Trading Up 1.1 %

Shares of AEP stock opened at $94.54 on Tuesday. The business has a 50-day moving average of $94.64 and a 200 day moving average of $96.74. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. American Electric Power Company, Inc. has a 1-year low of $75.22 and a 1-year high of $105.18. The stock has a market capitalization of $50.31 billion, a PE ratio of 18.95, a P/E/G ratio of 2.70 and a beta of 0.56.

American Electric Power Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th were issued a $0.93 dividend. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date was Friday, November 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.93%. American Electric Power’s dividend payout ratio (DPR) is currently 74.55%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AEP shares. UBS Group lifted their price target on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. Morgan Stanley dropped their target price on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $102.00 price target (down previously from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Jefferies Financial Group initiated coverage on shares of American Electric Power in a report on Friday, September 20th. They set a “hold” rating and a $107.00 price objective for the company. Finally, Scotiabank cut American Electric Power from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the company from $105.00 to $102.00 in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $98.00.

American Electric Power 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.