American Electric Power Company, Inc. (NASDAQ:AEP) Shares Bought by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC boosted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 7.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 3,570 shares of the company’s stock after acquiring an additional 239 shares during the period. EverSource Wealth Advisors LLC’s holdings in American Electric Power were worth $307,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AEP. Frazier Financial Advisors LLC purchased a new position in American Electric Power during the fourth quarter valued at $26,000. Denali Advisors LLC purchased a new position in American Electric Power during the first quarter valued at $26,000. Rise Advisors LLC purchased a new position in American Electric Power during the first quarter valued at $27,000. YHB Investment Advisors Inc. purchased a new position in American Electric Power during the first quarter valued at $29,000. Finally, Wetzel Investment Advisors Inc. purchased a new position in American Electric Power during the fourth quarter valued at $32,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

Insider Activity at American Electric Power

In related news, EVP Antonio P. Smyth sold 4,898 shares of American Electric Power stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $90.00, for a total value of $440,820.00. Following the completion of the transaction, the executive vice president now owns 6,446 shares in the company, valued at $580,140. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Greg B. Hall sold 5,880 shares of American Electric Power stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $88.25, for a total value of $518,910.00. Following the completion of the transaction, the executive vice president now owns 6,385 shares in the company, valued at $563,476.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Antonio P. Smyth sold 4,898 shares of American Electric Power stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $90.00, for a total transaction of $440,820.00. Following the completion of the transaction, the executive vice president now owns 6,446 shares of the company’s stock, valued at approximately $580,140. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

American Electric Power Trading Up 0.5 %

Shares of AEP traded up $0.55 during trading on Friday, reaching $101.79. 4,453,719 shares of the company traded hands, compared to its average volume of 2,688,872. American Electric Power Company, Inc. has a twelve month low of $69.38 and a twelve month high of $104.35. The stock has a market cap of $53.66 billion, a PE ratio of 18.88, a price-to-earnings-growth ratio of 2.92 and a beta of 0.53. The stock has a 50-day simple moving average of $90.48 and a 200-day simple moving average of $86.04. The company has a quick ratio of 0.37, a current ratio of 0.65 and a debt-to-equity ratio of 1.53.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.02. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The business had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same period last year, the business earned $1.13 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts anticipate that American Electric Power Company, Inc. will post 5.59 earnings per share for the current year.

American Electric Power Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Friday, August 9th. American Electric Power’s dividend payout ratio (DPR) is currently 65.31%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. BMO Capital Markets raised their price target on shares of American Electric Power from $100.00 to $104.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Wells Fargo & Company raised their price target on shares of American Electric Power from $84.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 1st. Royal Bank of Canada raised their price target on shares of American Electric Power from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Guggenheim raised their price target on shares of American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Finally, Morgan Stanley decreased their price target on shares of American Electric Power from $98.00 to $94.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, American Electric Power has an average rating of “Hold” and an average target price of $90.46.

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.