Morton Community Bank Cuts Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Morton Community Bank lessened its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 1.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 36,484 shares of the company’s stock after selling 351 shares during the quarter. Morton Community Bank’s holdings in American Electric Power were worth $3,743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. HHM Wealth Advisors LLC raised its stake in shares of American Electric Power by 57.2% during the second 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. LRI Investments LLC grew its holdings in American Electric Power by 935.9% during the second quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after acquiring an additional 365 shares during the period. Briaud Financial Planning Inc grew its holdings in American Electric Power by 52.1% during the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after acquiring an additional 150 shares during the period. Reston Wealth Management LLC acquired a new position in American Electric Power during the third quarter worth $48,000. Finally, Friedenthal Financial acquired a new position in American Electric Power during the third quarter worth $50,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Down 0.0 %

Shares of NASDAQ:AEP opened at $99.86 on Friday. 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 Company, Inc. has a 52-week low of $75.22 and a 52-week high of $105.18. The stock’s fifty day simple moving average is $98.72 and its 200-day simple moving average is $95.79. The company has a market capitalization of $53.14 billion, a P/E ratio of 20.01, a P/E/G ratio of 2.88 and a beta of 0.55.

American Electric Power Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be given a $0.93 dividend. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a dividend yield of 3.73%. The ex-dividend date is Friday, November 8th. American Electric Power’s dividend payout ratio is currently 74.55%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on AEP shares. UBS Group upped their price objective on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. upped their price objective on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. BMO Capital Markets dropped their price objective on American Electric Power from $111.00 to $104.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Morgan Stanley lowered their target price on American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Finally, Barclays lowered their target price on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 26th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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.