American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Harbour Trust & Investment Management Co

Harbour Trust & Investment Management Co trimmed its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 15.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,582 shares of the company’s stock after selling 675 shares during the period. Harbour Trust & Investment Management Co’s holdings in American Electric Power were worth $368,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. HHM Wealth Advisors LLC boosted its stake in shares of American Electric Power by 57.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after purchasing an additional 103 shares during the last quarter. E Fund Management Co. Ltd. boosted its stake 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 purchasing an additional 105 shares during the last quarter. Bank of Stockton boosted its stake in shares of American Electric Power by 2.2% during the 2nd quarter. Bank of Stockton now owns 5,062 shares of the company’s stock worth $444,000 after purchasing an additional 111 shares during the last quarter. First United Bank & Trust boosted its stake in shares of American Electric Power by 17.1% during the 3rd quarter. First United Bank & Trust now owns 766 shares of the company’s stock worth $79,000 after purchasing an additional 112 shares during the last quarter. Finally, Richardson Financial Services Inc. boosted its stake in shares of American Electric Power by 3.9% during the 1st quarter. Richardson Financial Services Inc. now owns 3,084 shares of the company’s stock worth $266,000 after purchasing an additional 115 shares during the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Trading Down 1.4 %

NASDAQ AEP opened at $99.39 on Friday. American Electric Power Company, Inc. has a one year low of $74.37 and a one year high of $105.18. The company’s 50 day moving average price is $100.65 and its 200 day moving average price is $93.72. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65. The firm has a market capitalization of $52.39 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 2.79 and a beta of 0.54.

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

American Electric Power Increases Dividend

The company 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 an increase from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.72 annualized dividend and a yield of 3.74%. American Electric Power’s payout ratio is 65.31%.

Wall Street Analyst Weigh In

Several research firms have issued reports on AEP. JPMorgan Chase & Co. raised their price target on shares of American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Bank of America raised their target price 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. BMO Capital Markets raised their target price on shares of American Electric Power from $109.00 to $114.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Barclays raised their target price on shares of American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Finally, Morgan Stanley raised their target price on shares of American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a research 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 given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $98.43.

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.