Truadvice LLC purchased a new position in shares of American Electric Power Company Inc (NYSE:AEP) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 4,328 shares of the utilities provider’s stock, valued at approximately $384,000.
Other large investors have also recently added to or reduced their stakes in the company. CVA Family Office LLC acquired a new stake in American Electric Power during the 1st quarter worth approximately $28,000. Creative Financial Designs Inc. ADV raised its holdings in American Electric Power by 278.0% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 378 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 278 shares in the last quarter. Rockbridge Investment Management LCC acquired a new position in American Electric Power in the 2nd quarter valued at $31,000. Weaver Consulting Group raised its holdings in American Electric Power by 75.6% in the 2nd quarter. Weaver Consulting Group now owns 418 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 180 shares in the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC raised its holdings in American Electric Power by 123.1% in the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 482 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 266 shares in the last quarter. 73.16% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have weighed in on the company. KeyCorp lifted their price objective on American Electric Power from $96.00 to $97.00 and gave the company an “overweight” rating in a report on Monday, October 19th. Morgan Stanley lifted their price objective on American Electric Power from $99.00 to $106.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, TheStreet raised American Electric Power from a “c+” rating to a “b-” rating in a report on Tuesday, July 21st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $96.12.
American Electric Power (NYSE:AEP) last issued its quarterly earnings data on Thursday, October 22nd. The utilities provider reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.03. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.21 billion. American Electric Power had a return on equity of 10.24% and a net margin of 12.56%. American Electric Power’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 EPS. As a group, analysts anticipate that American Electric Power Company Inc will post 4.32 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Tuesday, November 10th will be given a dividend of $0.74 per share. The ex-dividend date is Monday, November 9th. This represents a $2.96 dividend on an annualized basis and a yield of 3.22%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.70. American Electric Power’s payout ratio is currently 66.04%.
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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.
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