CNB Bank Has $117,000 Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

CNB Bank reduced its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 8.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,266 shares of the company’s stock after selling 123 shares during the period. CNB Bank’s holdings in American Electric Power were worth $117,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Legacy Investment Solutions LLC bought a new position in shares of American Electric Power during the 3rd quarter worth approximately $25,000. Safe Harbor Fiduciary LLC acquired a new position in American Electric Power during the third quarter worth $33,000. Reston Wealth Management LLC bought a new position in American Electric Power in the third quarter valued at $48,000. Decker Retirement Planning Inc. acquired a new stake in American Electric Power in the 4th quarter valued at $49,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in American Electric Power in the 3rd quarter valued at $50,000. 75.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Scotiabank cut American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $105.00 to $102.00 in a report on Thursday, December 12th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $102.00 price target (down from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. UBS Group upped their price objective on American Electric Power from $91.00 to $95.00 and gave the stock a “sell” rating in a research note on Thursday, November 7th. Wells Fargo & Company cut their price objective on American Electric Power from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Finally, Bank of America upgraded shares of American Electric Power from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $98.00 to $104.00 in a report on Monday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $98.00.

American Electric Power Price Performance

Shares of AEP opened at $97.18 on Friday. The company’s 50-day moving average is $94.51 and its 200-day moving average is $96.77. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.57 and a quick ratio of 0.41. The firm has a market capitalization of $51.71 billion, a PE ratio of 19.43, a PEG ratio of 2.58 and a beta of 0.56. American Electric Power Company, Inc. has a fifty-two week low of $75.22 and a fifty-two week high of $105.18.

American Electric Power Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th were issued a $0.93 dividend. 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 3.83%. The ex-dividend date of this dividend was Friday, November 8th. American Electric Power’s dividend payout ratio is currently 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.