First American Bank Buys 1,182 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

First American Bank grew its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,998 shares of the company’s stock after purchasing an additional 1,182 shares during the quarter. First American Bank’s holdings in American Electric Power were worth $8,516,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. J.W. Cole Advisors Inc. lifted its holdings in shares of American Electric Power by 6.4% in the third quarter. J.W. Cole Advisors Inc. now owns 17,929 shares of the company’s stock valued at $1,840,000 after purchasing an additional 1,079 shares in the last quarter. Carret Asset Management LLC lifted its holdings in American Electric Power by 0.4% during the third quarter. Carret Asset Management LLC now owns 62,622 shares of the company’s stock worth $6,425,000 after acquiring an additional 255 shares during the period. Smith Salley Wealth Management lifted its holdings in American Electric Power by 3.0% during the third quarter. Smith Salley Wealth Management now owns 26,762 shares of the company’s stock worth $2,746,000 after acquiring an additional 772 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in American Electric Power by 1.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 131,773 shares of the company’s stock worth $13,528,000 after acquiring an additional 1,460 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in American Electric Power by 54.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 304,287 shares of the company’s stock worth $31,220,000 after acquiring an additional 107,092 shares during the period. Institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $98.19 on Monday. The stock has a market cap of $51.76 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 2.79 and a beta of 0.54. American Electric Power Company, Inc. has a fifty-two week low of $74.37 and a fifty-two week high of $105.18. 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 stock has a fifty day moving average of $100.68 and a 200-day moving average of $93.96.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.02. The company had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.74 billion. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.13 earnings per share. Equities research analysts anticipate that American Electric Power Company, Inc. will post 5.6 earnings per share for the current year.

American Electric Power Increases Dividend

The firm 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 is a positive change from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, November 8th. This represents a $3.72 annualized dividend and a yield of 3.79%. American Electric Power’s dividend payout ratio (DPR) is currently 69.02%.

Wall Street Analysts Forecast Growth

AEP has been the topic of a number of recent analyst reports. Jefferies Financial Group initiated coverage on American Electric Power in a report on Friday, September 20th. They set a “hold” rating and a $107.00 price target on the stock. JPMorgan Chase & Co. raised their target price on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. BMO Capital Markets raised their target price on American Electric Power from $109.00 to $114.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Wells Fargo & Company raised 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. Finally, Guggenheim raised their target price on American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, American Electric Power currently has an average rating of “Hold” and a consensus price target of $98.43.

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.