AE Wealth Management LLC Has $19.59 Million Holdings in American Electric Power Company, Inc. $AEP

AE Wealth Management LLC lifted its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 6.1% in the third quarter, HoldingsChannel.com reports. The firm owned 174,102 shares of the company’s stock after acquiring an additional 9,983 shares during the period. AE Wealth Management LLC’s holdings in American Electric Power were worth $19,586,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Soroban Capital Partners LP increased its holdings in American Electric Power by 176.3% in the 2nd quarter. Soroban Capital Partners LP now owns 4,004,686 shares of the company’s stock valued at $415,526,000 after buying an additional 2,555,415 shares during the period. Amundi boosted its position in shares of American Electric Power by 26.1% during the 2nd quarter. Amundi now owns 3,694,659 shares of the company’s stock valued at $381,510,000 after acquiring an additional 765,258 shares in the last quarter. State Street Corp increased its stake in American Electric Power by 2.3% in the second quarter. State Street Corp now owns 28,516,466 shares of the company’s stock valued at $2,958,869,000 after acquiring an additional 653,712 shares during the period. Invesco Ltd. raised its position in American Electric Power by 5.9% in the second quarter. Invesco Ltd. now owns 7,802,211 shares of the company’s stock worth $809,557,000 after purchasing an additional 432,441 shares in the last quarter. Finally, National Pension Service lifted its stake in American Electric Power by 22.8% during the second quarter. National Pension Service now owns 1,894,580 shares of the company’s stock worth $196,582,000 after purchasing an additional 352,198 shares during the period. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Scotiabank upped their price objective on American Electric Power from $121.00 to $131.00 and gave the company a “sector perform” rating in a research note on Tuesday, December 16th. Mizuho boosted their price target on American Electric Power from $113.00 to $123.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Barclays increased their price objective on American Electric Power from $117.00 to $121.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 22nd. Morgan Stanley reissued an “overweight” rating and set a $125.00 price objective on shares of American Electric Power in a report on Wednesday, January 21st. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of American Electric Power in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, American Electric Power currently has an average rating of “Moderate Buy” and a consensus target price of $127.39.

Insider Buying and Selling

In other news, Director Benjamin G. S. Fowke III sold 5,000 shares of American Electric Power stock in a transaction on Friday, December 12th. The stock was sold at an average price of $115.07, for a total value of $575,350.00. Following the completion of the sale, the director directly owned 25,898 shares of the company’s stock, valued at approximately $2,980,082.86. This trade represents a 16.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.07% of the company’s stock.

American Electric Power Trading Up 0.1%

AEP opened at $119.21 on Friday. American Electric Power Company, Inc. has a 1-year low of $97.32 and a 1-year high of $124.80. The stock has a market capitalization of $63.67 billion, a PE ratio of 17.38, a PEG ratio of 2.84 and a beta of 0.63. The company has a current ratio of 0.69, a quick ratio of 0.53 and a debt-to-equity ratio of 1.41. The firm has a 50-day moving average price of $117.27 and a two-hundred day moving average price of $114.85.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Wednesday, October 29th. The company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.81 by ($0.01). The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.65 billion. American Electric Power had a net margin of 17.23% and a return on equity of 11.00%. American Electric Power’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period last year, the company earned $1.85 earnings per share. As a group, equities analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 10th will be given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Tuesday, February 10th. American Electric Power’s dividend payout ratio (DPR) is presently 55.39%.

About American Electric Power

American Electric Power (NASDAQ: AEP) is a major investor-owned electric utility headquartered in Columbus, Ohio. The company is primarily engaged in the generation, transmission and distribution of electricity, operating a diverse portfolio of power plants and an extensive high-voltage transmission network. AEP serves retail customers through its regulated utility subsidiaries and provides wholesale power and grid services across multiple regional markets in the United States.

Operations span the full utility value chain: AEP owns and operates generation assets that include fossil-fuel, natural gas, nuclear and hydropower facilities, and it has been adding renewable resources to its mix.