American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Zions Bancorporation N.A.

Zions Bancorporation N.A. lowered its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 20.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,301 shares of the company's stock after selling 14,469 shares during the quarter. Zions Bancorporation N.A.'s holdings in American Electric Power were worth $5,674,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC raised its holdings in 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 in the last quarter. LRI Investments LLC raised 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 purchasing an additional 365 shares in the last quarter. Briaud Financial Planning Inc raised 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 purchasing an additional 150 shares in the last quarter. Naples Money Management LLC acquired a new stake in American Electric Power during the second quarter worth approximately $44,000. Finally, Opal Wealth Advisors LLC acquired a new stake in American Electric Power during the second quarter worth approximately $48,000. Hedge funds and other institutional investors own 75.24% of the company's stock.

Wall Street Analysts Forecast Growth

AEP has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price objective on shares of American Electric Power from $108.00 to $112.00 and gave the stock an "overweight" rating in a report on Friday, October 18th. Scotiabank lifted their target price on shares of American Electric Power from $99.00 to $108.00 and gave the company a "sector outperform" rating in a report on Tuesday, August 20th. Bank of America lifted their target price on shares of American Electric Power from $97.00 to $98.00 and gave the company an "underperform" rating in a report on Thursday, August 29th. UBS Group lifted their target price on shares of American Electric Power from $91.00 to $95.00 and gave the company a "sell" rating in a report on Thursday, November 7th. Finally, Morgan Stanley lifted their target price on shares of American Electric Power from $102.00 to $108.00 and gave the company an "overweight" rating in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $98.27.

American Electric Power Price Performance

Shares of American Electric Power stock traded up $0.43 on Thursday, hitting $93.76. The company's stock had a trading volume of 2,570,117 shares, compared to its average volume of 3,151,653. The firm has a fifty day moving average price of $100.04 and a 200-day moving average price of $95.09. American Electric Power Company, Inc. has a 52-week low of $75.22 and a 52-week high of $105.18. The company has a market capitalization of $49.89 billion, a P/E ratio of 18.70, a price-to-earnings-growth ratio of 2.65 and a beta of 0.55. 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be paid a $0.93 dividend. This is an increase from American Electric Power's previous quarterly dividend of $0.88. The ex-dividend date is Friday, November 8th. This represents a $3.72 annualized dividend and a yield of 3.97%. American Electric Power's payout ratio is presently 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.