Raymond James Trust N.A. Has $2.96 Million Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Raymond James Trust N.A. lowered its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 12.3% in the third quarter, HoldingsChannel.com reports. The fund owned 28,880 shares of the company’s stock after selling 4,051 shares during the quarter. Raymond James Trust N.A.’s holdings in American Electric Power were worth $2,963,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of AEP. HHM Wealth Advisors LLC increased its position in American Electric Power by 57.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after acquiring an additional 103 shares in the last quarter. LRI Investments LLC increased its holdings in shares of American Electric Power by 935.9% in the second quarter. LRI Investments LLC now owns 404 shares of the company’s stock valued at $35,000 after purchasing an additional 365 shares in the last quarter. Briaud Financial Planning Inc increased its holdings in shares of American Electric Power by 52.1% in the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Naples Money Management LLC bought a new position in American Electric Power in the 2nd quarter worth approximately $44,000. Finally, Opal Wealth Advisors LLC acquired a new position in American Electric Power during the 2nd quarter worth $48,000. 75.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Morgan Stanley cut their price target on American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research note on Friday. Barclays upped their target price on shares of American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Wells Fargo & Company lowered their price target on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. JPMorgan Chase & Co. increased their price objective on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Finally, UBS Group lifted their target price on shares of American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $98.00.

American Electric Power Stock Performance

AEP stock opened at $97.59 on Friday. American Electric Power Company, Inc. has a 1-year low of $75.22 and a 1-year high of $105.18. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The firm has a market cap of $51.93 billion, a PE ratio of 19.56, a P/E/G ratio of 2.79 and a beta of 0.55. The business’s 50-day moving average price is $99.11 and its two-hundred day moving average price is $95.46.

American Electric Power Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.93 per share. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.81%. The ex-dividend date is Friday, November 8th. American Electric Power’s dividend payout ratio (DPR) is 74.55%.

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.