First County Bank CT Sells 1,214 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

First County Bank CT lowered its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 6.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,425 shares of the company’s stock after selling 1,214 shares during the period. First County Bank CT’s holdings in American Electric Power were worth $1,529,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. HHM Wealth Advisors LLC boosted its position in shares of American Electric Power by 57.2% during 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. Denali Advisors LLC bought a new position in American Electric Power during the first quarter worth about $26,000. Rise Advisors LLC acquired a new stake in American Electric Power during the first quarter valued at approximately $27,000. YHB Investment Advisors Inc. bought a new stake in shares of American Electric Power in the 1st quarter valued at approximately $29,000. Finally, LRI Investments LLC bought a new stake in shares of American Electric Power in the 1st quarter valued at approximately $37,000. Institutional investors own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

AEP has been the topic of several recent analyst reports. Guggenheim boosted their price target on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Morgan Stanley boosted their target price on shares of American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their target price on shares of American Electric Power from $101.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Scotiabank boosted their price target on shares of American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Finally, Barclays raised their price objective on shares of American Electric Power from $91.00 to $96.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $96.43.

American Electric Power Price Performance

AEP opened at $100.74 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.48. The company’s 50 day simple moving average is $99.54 and its 200-day simple moving average is $91.44. American Electric Power Company, Inc. has a one year low of $69.38 and a one year high of $105.18. The stock has a market capitalization of $53.61 billion, a P/E ratio of 18.69, a price-to-earnings-growth ratio of 2.93 and a beta of 0.54.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.02. The firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.74 billion. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company earned $1.13 EPS. Sell-side analysts anticipate that American Electric Power Company, Inc. will post 5.6 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a dividend of $0.88 per share. The ex-dividend date was Friday, August 9th. This represents a $3.52 annualized dividend and a yield of 3.49%. American Electric Power’s dividend payout ratio is currently 65.31%.

About American Electric Power

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.