Trust Co. of Toledo NA OH Acquires 3,232 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Trust Co. of Toledo NA OH lifted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 39.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,522 shares of the company’s stock after acquiring an additional 3,232 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in American Electric Power were worth $1,182,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nomura Holdings Inc. bought a new position in shares of American Electric Power in the 4th quarter worth approximately $175,667,000. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of 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 valued at $193,541,000 after buying an additional 1,927,234 shares in the last quarter. Nordea Investment Management AB grew its position in shares of American Electric Power by 381.9% in the 1st quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock worth $171,127,000 after buying an additional 1,581,734 shares during the period. National Bank of Canada FI increased its stake in shares of American Electric Power by 221.9% in the 1st quarter. National Bank of Canada FI now owns 1,715,346 shares of the company’s stock worth $157,140,000 after acquiring an additional 1,182,451 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in American Electric Power by 67.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 2,586,250 shares of the company’s stock valued at $210,055,000 after acquiring an additional 1,043,885 shares during the period. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analysts Set New Price Targets

AEP has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their target price on shares of American Electric Power from $101.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Jefferies Financial Group started coverage on American Electric Power in a research note on Friday, September 20th. They set a “hold” rating and a $107.00 price objective for the company. BMO Capital Markets boosted their target price on American Electric Power from $109.00 to $114.00 and gave the stock an “outperform” rating in a report on Thursday. Bank of America raised their price target on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Finally, Scotiabank upped their price target on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $96.79.

American Electric Power Stock Performance

Shares of AEP opened at $101.37 on Friday. The firm has a market capitalization of $53.43 billion, a P/E ratio of 18.81, a PEG ratio of 2.93 and a beta of 0.54. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.48. American Electric Power Company, Inc. has a one year low of $69.38 and a one year high of $105.18. The business has a fifty day moving average of $100.29 and a 200 day moving average of $92.11.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.02. The business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.74 billion. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.13 EPS. As a group, sell-side analysts anticipate that American Electric Power Company, Inc. will post 5.6 EPS for the current year.

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend was Friday, August 9th. American Electric Power’s payout ratio is 65.31%.

American Electric Power 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.