Passumpsic Savings Bank Takes Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Passumpsic Savings Bank purchased a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,912 shares of the company’s stock, valued at approximately $914,000.

A number of other institutional investors also recently bought and sold shares of AEP. Fortem Financial Group LLC grew its position in shares of American Electric Power by 11.3% during the third quarter. Fortem Financial Group LLC now owns 2,651 shares of the company’s stock worth $272,000 after purchasing an additional 270 shares in the last quarter. Sunbelt Securities Inc. grew its position in shares of American Electric Power by 11.5% during the third quarter. Sunbelt Securities Inc. now owns 3,659 shares of the company’s stock worth $375,000 after purchasing an additional 378 shares in the last quarter. Toronto Dominion Bank grew its holdings in American Electric Power by 21.1% during the 3rd quarter. Toronto Dominion Bank now owns 327,254 shares of the company’s stock valued at $33,576,000 after buying an additional 57,019 shares in the last quarter. Coldstream Capital Management Inc. grew its holdings in American Electric Power by 12.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 8,643 shares of the company’s stock valued at $877,000 after buying an additional 934 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in American Electric Power by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 12,524,692 shares of the company’s stock valued at $1,280,655,000 after buying an additional 352,588 shares in the last quarter. Institutional investors own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AEP shares. UBS Group raised their price objective on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research note on Thursday, November 7th. Bank of America lifted their target price on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. lifted their price target on American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Evercore ISI dropped their target price on American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research note on Thursday, November 7th. Finally, Wells Fargo & Company dropped their target price on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $98.20.

American Electric Power Stock Performance

American Electric Power stock opened at $95.10 on Wednesday. The stock has a market cap of $50.60 billion, a P/E ratio of 19.06, a price-to-earnings-growth ratio of 2.77 and a beta of 0.55. 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 stock has a 50 day moving average of $97.98 and a 200-day moving average of $96.07. American Electric Power Company, Inc. has a 52 week low of $75.22 and a 52 week high of $105.18.

American Electric Power Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 8th were paid a dividend of $0.93 per share. The ex-dividend date was Friday, November 8th. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.91%. American Electric Power’s dividend payout ratio (DPR) is 74.55%.

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.