Cadence Bank NA trimmed its position in shares of American Electric Power Company, Inc. (NYSE:AEP) by 12.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,159 shares of the utilities provider’s stock after selling 2,383 shares during the period. Cadence Bank NA’s holdings in American Electric Power were worth $1,205,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AEP. Thompson Davis & CO. Inc. grew its stake in shares of American Electric Power by 0.3% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,747 shares of the utilities provider’s stock valued at $121,000 after purchasing an additional 6 shares during the period. Jackson Grant Investment Advisers Inc. grew its stake in shares of American Electric Power by 0.4% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 2,824 shares of the utilities provider’s stock valued at $196,000 after purchasing an additional 12 shares during the period. Guardian Life Insurance Co. of America grew its stake in shares of American Electric Power by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,897 shares of the utilities provider’s stock valued at $127,000 after purchasing an additional 13 shares during the period. Alpha Windward LLC grew its stake in shares of American Electric Power by 0.4% in the 2nd quarter. Alpha Windward LLC now owns 3,131 shares of the utilities provider’s stock valued at $218,000 after purchasing an additional 13 shares during the period. Finally, Barry Investment Advisors LLC grew its stake in shares of American Electric Power by 0.4% in the 2nd quarter. Barry Investment Advisors LLC now owns 4,187 shares of the utilities provider’s stock valued at $291,000 after purchasing an additional 17 shares during the period. Hedge funds and other institutional investors own 71.84% of the company’s stock.

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AEP has been the topic of several analyst reports. Morgan Stanley reiterated an “equal weight” rating on shares of American Electric Power in a research note on Monday, July 10th. BidaskClub lowered American Electric Power from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Zacks Investment Research lowered American Electric Power from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Jefferies Group LLC reiterated a “hold” rating and issued a $70.00 price objective on shares of American Electric Power in a research note on Wednesday, July 19th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $75.00 price objective (up from $73.00) on shares of American Electric Power in a research note on Friday, July 28th. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the stock. American Electric Power has a consensus rating of “Hold” and an average target price of $73.91.

American Electric Power Company, Inc. (AEP) traded up 0.07% during midday trading on Tuesday, reaching $74.22. The company had a trading volume of 629,764 shares. The company has a market capitalization of $36.50 billion, a PE ratio of 63.87 and a beta of 0.28. The stock’s 50 day moving average is $72.41 and its 200 day moving average is $70.92. American Electric Power Company, Inc. has a one year low of $57.89 and a one year high of $74.90.

American Electric Power (NYSE:AEP) last posted its earnings results on Thursday, October 26th. The utilities provider reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.06). The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.42 billion. American Electric Power had a return on equity of 9.67% and a net margin of 12.21%. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.30 EPS. Equities research analysts forecast that American Electric Power Company, Inc. will post $3.63 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 10th will be paid a $0.62 dividend. This is a boost from American Electric Power’s previous quarterly dividend of $0.59. The ex-dividend date is Thursday, November 9th. This represents a $2.48 annualized dividend and a dividend yield of 3.34%. American Electric Power’s payout ratio is currently 61.78%.

American Electric Power Profile

American Electric Power Company, Inc (AEP) is a public utility holding company that owns, directly or indirectly, all of the outstanding common stock of its public utility subsidiaries and varying percentages of other subsidiaries. The service areas of the Company’s public utility subsidiaries cover the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.

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Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

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