Fulton Bank N.A. Cuts Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Fulton Bank N.A. trimmed its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 0.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 23,938 shares of the company’s stock after selling 229 shares during the period. Fulton Bank N.A.’s holdings in American Electric Power were worth $2,100,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Denali Advisors LLC purchased a new position in American Electric Power in the first quarter worth about $26,000. Rise Advisors LLC purchased a new position in American Electric Power in the 1st quarter worth approximately $27,000. Frazier Financial Advisors LLC bought a new position in American Electric Power in the 4th quarter valued at approximately $26,000. YHB Investment Advisors Inc. purchased a new stake in American Electric Power during the 1st quarter valued at $29,000. Finally, Wetzel Investment Advisors Inc. bought a new stake in shares of American Electric Power in the 4th quarter worth $32,000. 75.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on AEP. LADENBURG THALM/SH SH raised American Electric Power from a “sell” rating to a “neutral” rating and increased their price objective for the company from $73.00 to $86.00 in a research report on Thursday, June 6th. BMO Capital Markets raised their price target on shares of American Electric Power from $100.00 to $104.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Royal Bank of Canada boosted their price objective on shares of American Electric Power from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Barclays raised their target price on shares of American Electric Power from $91.00 to $96.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Finally, Bank of America lowered shares of American Electric Power from a “neutral” rating to an “underperform” rating and boosted their target price for the company from $96.00 to $97.00 in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, American Electric Power currently has an average rating of “Hold” and a consensus price target of $92.00.

American Electric Power Stock Performance

American Electric Power stock traded up $0.23 during midday trading on Tuesday, hitting $98.29. The stock had a trading volume of 4,524,564 shares, compared to its average volume of 3,296,453. American Electric Power Company, Inc. has a 52-week low of $69.38 and a 52-week high of $104.41. The company has a market capitalization of $51.81 billion, a PE ratio of 18.24, a P/E/G ratio of 2.92 and a beta of 0.53. The firm’s fifty day moving average is $90.86 and its two-hundred day moving average is $86.37. The company has a current ratio of 0.65, a quick ratio of 0.37 and a debt-to-equity ratio of 1.53.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.74 billion. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The company’s revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.13 earnings per share. On average, research analysts forecast that American Electric Power Company, Inc. will post 5.59 EPS for the current year.

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be given a $0.88 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $3.52 annualized dividend and a dividend yield of 3.58%. American Electric Power’s payout ratio is 65.31%.

Insider Transactions at American Electric Power

In other news, insider Therace Risch 5,274 shares of American Electric Power stock in a transaction on Tuesday, July 30th. The was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other American Electric Power news, insider Therace Risch 5,274 shares of the business’s stock in a transaction dated Tuesday, July 30th. The was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Greg B. Hall sold 5,880 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $88.25, for a total value of $518,910.00. Following the completion of the sale, the executive vice president now owns 6,385 shares in the company, valued at $563,476.25. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

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.