Commerce Bank Raises Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Commerce Bank increased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 3.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 473,828 shares of the company's stock after purchasing an additional 15,925 shares during the quarter. Commerce Bank owned 0.09% of American Electric Power worth $48,615,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC lifted 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 worth $25,000 after acquiring an additional 103 shares during the last quarter. LRI Investments LLC grew its position in American Electric Power by 935.9% during the 2nd quarter. LRI Investments LLC now owns 404 shares of the company's stock valued at $35,000 after purchasing an additional 365 shares during the last quarter. Briaud Financial Planning Inc lifted its stake in American Electric Power by 52.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company's stock valued at $38,000 after acquiring an additional 150 shares during the period. Naples Money Management LLC bought a new position in shares of American Electric Power in the 2nd quarter worth approximately $44,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of American Electric Power in the 2nd quarter worth approximately $48,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Jefferies Financial Group assumed coverage on American Electric Power in a research note on Friday, September 20th. They issued a "hold" rating and a $107.00 target price on the stock. Morgan Stanley upped their target price on American Electric Power from $102.00 to $108.00 and gave the company an "overweight" rating in a research note on Wednesday, September 25th. Evercore ISI reduced their target price on American Electric Power from $97.00 to $96.00 and set an "in-line" rating on the stock in a report on Thursday, November 7th. Bank of America lifted their price target on American Electric Power from $97.00 to $98.00 and gave the company an "underperform" rating in a research report on Thursday, August 29th. Finally, Scotiabank raised their target price on American Electric Power from $99.00 to $108.00 and gave the company a "sector outperform" rating in a report on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $98.27.

American Electric Power Stock Performance

Shares of AEP stock traded down $0.27 on Wednesday, hitting $96.43. 1,502,928 shares of the stock traded hands, compared to its average volume of 3,150,473. The company has a market capitalization of $51.31 billion, a PE ratio of 19.38, a PEG ratio of 2.78 and a beta of 0.55. The company's fifty day moving average is $99.47 and its 200 day moving average is $95.38. 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.

American Electric Power Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be paid a $0.93 dividend. This is a boost from American Electric Power's previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power's dividend payout ratio (DPR) is 74.55%.

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.