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

Huntington National Bank increased its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 6.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 941,374 shares of the company's stock after buying an additional 54,503 shares during the period. Huntington National Bank owned about 0.18% of American Electric Power worth $96,585,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of American Electric Power by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 49,630,436 shares of the company's stock worth $4,273,181,000 after acquiring an additional 405,114 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of American Electric Power by 9.9% during the first quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company's stock worth $739,303,000 after purchasing an additional 776,965 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of American Electric Power by 8.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company's stock valued at $466,191,000 after purchasing an additional 341,846 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of American Electric Power by 1.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,378,543 shares of the company's stock worth $296,433,000 after purchasing an additional 35,769 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in American Electric Power by 542.4% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company's stock worth $193,541,000 after buying an additional 1,927,234 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on AEP shares. Evercore ISI lowered their target price on shares of American Electric Power from $97.00 to $96.00 and set an "in-line" rating for the company in a research note on Thursday, November 7th. Guggenheim boosted their price objective on shares of American Electric Power from $81.00 to $83.00 and gave the company a "neutral" rating in a report on Monday, July 22nd. 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 for the company. JPMorgan Chase & Co. boosted their price target on American Electric Power from $108.00 to $112.00 and gave the company an "overweight" rating in a research note on Friday, October 18th. Finally, Bank of America increased their price objective on shares of American Electric Power from $97.00 to $98.00 and gave the stock an "underperform" rating in a research note on Thursday, August 29th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $98.27.

American Electric Power Trading Up 1.2 %

Shares of AEP traded up $1.09 during mid-day trading on Thursday, reaching $94.42. The stock had a trading volume of 767,753 shares, compared to its average volume of 3,143,498. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. The business's fifty day moving average is $100.04 and its 200 day moving average is $95.09. American Electric Power Company, Inc. has a 52-week low of $75.22 and a 52-week high of $105.18. The firm has a market cap of $50.24 billion, a price-to-earnings ratio of 18.70, a P/E/G ratio of 2.65 and a beta of 0.55.

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 issued a $0.93 dividend. The ex-dividend date is Friday, November 8th. This is a boost from American Electric Power's previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a yield of 3.94%. American Electric Power's dividend payout ratio is currently 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.