United Community Bank Boosts Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

United Community Bank boosted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 4,011.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,555 shares of the company’s stock after purchasing an additional 20,055 shares during the period. United Community Bank’s holdings in American Electric Power were worth $1,896,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of AEP. Legacy Investment Solutions LLC bought a new stake in shares of American Electric Power in the third quarter valued at $25,000. Safe Harbor Fiduciary LLC bought a new stake in shares of American Electric Power during the 3rd quarter valued at $33,000. Kestra Investment Management LLC bought a new stake in shares of American Electric Power during the 4th quarter valued at $35,000. Newbridge Financial Services Group Inc. bought a new stake in shares of American Electric Power during the 4th quarter valued at $35,000. Finally, Decker Retirement Planning Inc. bought a new stake in shares of American Electric Power during the 4th quarter valued at $49,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on AEP. Morgan Stanley decreased their price objective on American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $102.00 price objective (down from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. BMO Capital Markets decreased their price objective on American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Barclays decreased their price objective on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 26th. Finally, Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $105.00 to $102.00 in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $98.46.

American Electric Power Price Performance

AEP opened at $104.62 on Friday. The stock has a 50-day moving average price of $99.21 and a 200-day moving average price of $98.64. American Electric Power Company, Inc. has a 12-month low of $79.16 and a 12-month high of $109.52. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46. The stock has a market capitalization of $55.78 billion, a P/E ratio of 18.68, a PEG ratio of 2.97 and a beta of 0.50.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 previous year, the company posted $1.23 earnings per share. Equities analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.56%. The ex-dividend date is Monday, February 10th. American Electric Power’s dividend payout ratio is presently 66.43%.

American Electric Power Company 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.