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

Huntington National Bank grew its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 5.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 989,453 shares of the company's stock after buying an additional 48,079 shares during the period. Huntington National Bank owned 0.19% of American Electric Power worth $91,257,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in AEP. SouthState Corp raised its position in American Electric Power by 1.6% in the fourth quarter. SouthState Corp now owns 6,611 shares of the company's stock valued at $610,000 after purchasing an additional 102 shares during the period. PSI Advisors LLC increased its position in shares of American Electric Power by 10.6% during the fourth quarter. PSI Advisors LLC now owns 1,113 shares of the company's stock valued at $103,000 after acquiring an additional 107 shares during the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. raised its stake in shares of American Electric Power by 3.7% in the 4th quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 3,105 shares of the company's stock valued at $286,000 after acquiring an additional 112 shares during the period. Albion Financial Group UT lifted its holdings in shares of American Electric Power by 0.9% in the 4th quarter. Albion Financial Group UT now owns 12,132 shares of the company's stock worth $1,119,000 after acquiring an additional 112 shares during the last quarter. Finally, GHP Investment Advisors Inc. boosted its position in shares of American Electric Power by 11.2% during the 4th quarter. GHP Investment Advisors Inc. now owns 1,112 shares of the company's stock worth $103,000 after purchasing an additional 112 shares during the period. Institutional investors and hedge funds own 75.24% of the company's stock.

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American Electric Power Stock Down 2.6 %

NASDAQ:AEP traded down $2.75 during midday trading on Monday, hitting $101.73. 2,813,349 shares of the company were exchanged, compared to its average volume of 3,106,763. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46. American Electric Power Company, Inc. has a fifty-two week low of $79.16 and a fifty-two week high of $110.48. The company has a market capitalization of $54.29 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 2.97 and a beta of 0.43. The company has a fifty day simple moving average of $103.79 and a 200 day simple moving average of $99.23.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $1.24 earnings per share for the quarter, meeting the consensus estimate of $1.24. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. During the same period in the prior year, the company posted $1.23 earnings per share. As a group, equities analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend was Monday, February 10th. American Electric Power's dividend payout ratio is presently 66.43%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Bank of America increased their target price on American Electric Power from $108.00 to $114.00 and gave the stock a "buy" rating in a research note on Tuesday, March 18th. Morgan Stanley upped their price objective on American Electric Power from $108.00 to $113.00 and gave the stock an "overweight" rating in a research report on Thursday, March 20th. Scotiabank lowered American Electric Power from a "sector outperform" rating to a "sector perform" rating and decreased their target price for the company from $105.00 to $102.00 in a report on Thursday, December 12th. JPMorgan Chase & Co. restated a "neutral" rating and set a $102.00 price target (down previously from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Finally, BMO Capital Markets lifted their price objective on American Electric Power from $107.00 to $111.00 and gave the company an "outperform" rating in a research note on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $100.77.

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.