Huntington National Bank Buys 48,079 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Huntington National Bank lifted its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 5.1% during the 4th quarter, HoldingsChannel reports. The firm owned 989,453 shares of the company’s stock after acquiring an additional 48,079 shares during the quarter. Huntington National Bank’s holdings in American Electric Power were worth $91,257,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Rockefeller Capital Management L.P. raised its holdings in shares of American Electric Power by 6.4% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 114,567 shares of the company’s stock worth $11,753,000 after acquiring an additional 6,928 shares in the last quarter. Benjamin Edwards Inc. raised its stake in shares of American Electric Power by 29.0% in the third quarter. Benjamin Edwards Inc. now owns 68,405 shares of the company’s stock valued at $7,026,000 after acquiring an additional 15,358 shares during the period. Hilltop Holdings Inc. lifted its stake in American Electric Power by 12.4% in the third quarter. Hilltop Holdings Inc. now owns 8,529 shares of the company’s stock worth $875,000 after purchasing an additional 942 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in American Electric Power by 109.5% during the 3rd quarter. Janus Henderson Group PLC now owns 3,753,250 shares of the company’s stock valued at $385,079,000 after acquiring an additional 1,962,125 shares during the period. Finally, Investment Management Corp of Ontario grew its position in American Electric Power by 50.7% in the 3rd quarter. Investment Management Corp of Ontario now owns 17,542 shares of the company’s stock valued at $1,800,000 after acquiring an additional 5,900 shares during the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Stock Down 0.8 %

NASDAQ:AEP opened at $108.37 on Wednesday. The company’s fifty day moving average price is $103.23 and its 200-day moving average price is $99.17. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.44 and a quick ratio of 0.31. The firm has a market capitalization of $57.84 billion, a P/E ratio of 19.35, a PEG ratio of 2.97 and a beta of 0.50. American Electric Power Company, Inc. has a 1-year low of $79.16 and a 1-year high of $109.76.

American Electric Power (NASDAQ:AEP) last released its earnings results on Thursday, February 13th. The company reported $1.24 EPS for the quarter, hitting analysts’ consensus estimates of $1.24. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. During the same quarter in the previous year, the company earned $1.23 earnings per share. As a group, equities research analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend was Monday, February 10th. American Electric Power’s payout ratio is presently 66.43%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AEP shares. Bank of America lifted their target price on American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $102.00 price target (down previously from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. BMO Capital Markets increased their price objective on American Electric Power from $107.00 to $111.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 26th. Morgan Stanley raised their price target on American Electric Power from $108.00 to $113.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Finally, Guggenheim raised shares of American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus 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.