First National Bank of Mount Dora Trust Investment Services Sells 760 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

First National Bank of Mount Dora Trust Investment Services trimmed its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 4.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,275 shares of the company’s stock after selling 760 shares during the period. First National Bank of Mount Dora Trust Investment Services’ holdings in American Electric Power were worth $1,593,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AEP. Legacy Investment Solutions LLC purchased a new stake in American Electric Power in the 3rd quarter worth about $25,000. Safe Harbor Fiduciary LLC purchased a new stake in American Electric Power in the 3rd quarter worth about $33,000. Reston Wealth Management LLC purchased a new position in American Electric Power during the 3rd quarter valued at about $48,000. Decker Retirement Planning Inc. purchased a new position in American Electric Power during the 4th quarter valued at about $49,000. Finally, Future Financial Wealth Managment LLC purchased a new position in American Electric Power during the 3rd quarter valued at about $50,000. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Stock Performance

NASDAQ:AEP opened at $97.25 on Friday. The business has a 50 day moving average of $94.51 and a 200 day moving average of $96.77. The company has a market capitalization of $51.75 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 2.58 and a beta of 0.56. 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 debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41.

American Electric Power Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th were given a $0.93 dividend. The ex-dividend date was Friday, November 8th. This represents a $3.72 annualized dividend and a yield of 3.83%. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s payout ratio is presently 74.55%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the company from $105.00 to $102.00 in a report on Thursday, December 12th. UBS Group lifted their target price on American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a report on Thursday, November 7th. Jefferies Financial Group assumed coverage on American Electric Power in a report on Friday, September 20th. They set a “hold” rating and a $107.00 target price for the company. Evercore ISI reduced their target price on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. Finally, Barclays cut their price objective on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $98.00.

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.