Powers Advisory Group LLC Buys Shares of 2,087 American Electric Power Company, Inc. (NASDAQ:AEP)

Powers Advisory Group LLC acquired a new position in American Electric Power Company, Inc. (NASDAQ:AEP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,087 shares of the company’s stock, valued at approximately $214,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its holdings in shares of American Electric Power by 35.7% in the fourth quarter. Fisher Asset Management LLC now owns 7,190 shares of the company’s stock worth $584,000 after acquiring an additional 1,892 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of American Electric Power in the fourth quarter worth about $559,000. Park Avenue Securities LLC lifted its holdings in shares of American Electric Power by 1.3% in the first quarter. Park Avenue Securities LLC now owns 28,548 shares of the company’s stock worth $2,458,000 after buying an additional 360 shares in the last quarter. RFG Advisory LLC bought a new position in shares of American Electric Power in the first quarter valued at approximately $211,000. Finally, Gulf International Bank UK Ltd grew its stake in American Electric Power by 12.4% during the first quarter. Gulf International Bank UK Ltd now owns 47,512 shares of the company’s stock valued at $4,090,000 after acquiring an additional 5,230 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Stock Performance

American Electric Power stock opened at $100.69 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53. The firm has a market cap of $53.08 billion, a P/E ratio of 18.68, a P/E/G ratio of 2.79 and a beta of 0.54. The firm has a 50-day moving average of $100.43 and a 200-day moving average of $93.34. American Electric Power Company, Inc. has a 1-year low of $72.01 and a 1-year high of $105.18.

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

American Electric Power Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend was Friday, August 9th. American Electric Power’s payout ratio is presently 65.31%.

Analyst Ratings Changes

AEP has been the subject of several analyst reports. Morgan Stanley raised their price target on shares of American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Wells Fargo & Company increased their price target on shares of American Electric Power from $98.00 to $104.00 and gave the stock an “equal weight” rating in a report on Wednesday. Jefferies Financial Group began coverage on shares of American Electric Power in a report on Friday, September 20th. They set a “hold” rating and a $107.00 price objective for the company. Barclays raised their price target on American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. boosted their target price on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, American Electric Power currently has an average rating of “Hold” and a consensus price target of $98.43.

American Electric Power 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.