Zions Bancorporation N.A. Sells 2,168 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Zions Bancorporation N.A. trimmed its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 3.0% in the second quarter, Holdings Channel reports. The firm owned 69,770 shares of the company’s stock after selling 2,168 shares during the quarter. Zions Bancorporation N.A.’s holdings in American Electric Power were worth $6,122,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AEP. HHM Wealth Advisors LLC boosted its holdings in shares of 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 buying an additional 103 shares during the last quarter. Frazier Financial Advisors LLC bought a new stake in American Electric Power during the fourth quarter worth $26,000. Denali Advisors LLC acquired a new stake in American Electric Power in the first quarter valued at $26,000. Rise Advisors LLC bought a new position in shares of American Electric Power in the 1st quarter valued at about $27,000. Finally, YHB Investment Advisors Inc. bought a new position in shares of American Electric Power in the 1st quarter valued at about $29,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

AEP has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of American Electric Power from $101.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Guggenheim upped their price objective on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. LADENBURG THALM/SH SH upgraded American Electric Power from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $73.00 to $86.00 in a research note on Thursday, June 6th. Scotiabank boosted their target price on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Finally, Morgan Stanley raised their price target on American Electric Power from $95.00 to $102.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $95.15.

American Electric Power Stock Down 0.1 %

AEP opened at $102.99 on Friday. The stock has a fifty day moving average of $97.06 and a 200-day moving average of $90.14. The company has a market capitalization of $54.29 billion, a P/E ratio of 19.11, a P/E/G ratio of 2.92 and a beta of 0.54. American Electric Power Company, Inc. has a fifty-two week low of $69.38 and a fifty-two week high of $104.41. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65.

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, topping the consensus estimate of $1.23 by $0.02. The business had revenue of $4.60 billion during 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 business’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.13 EPS. On average, equities analysts expect that American Electric Power Company, Inc. will post 5.59 EPS for the current year.

American Electric Power Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend was Friday, August 9th. American Electric Power’s dividend payout ratio (DPR) is currently 65.31%.

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.