Verus Financial Partners Inc. purchased a new stake in shares of American Electric Power Company Inc (NYSE:AEP) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,181 shares of the utilities provider’s stock, valued at approximately $225,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. First Quadrant L P CA bought a new stake in shares of American Electric Power in the second quarter worth about $118,000. Private Capital Group LLC increased its holdings in shares of American Electric Power by 83.9% in the third quarter. Private Capital Group LLC now owns 2,082 shares of the utilities provider’s stock worth $147,000 after acquiring an additional 950 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in shares of American Electric Power by 59.4% in the second quarter. Valeo Financial Advisors LLC now owns 2,145 shares of the utilities provider’s stock worth $152,000 after acquiring an additional 799 shares in the last quarter. Girard Partners LTD. bought a new stake in shares of American Electric Power in the third quarter worth about $156,000. Finally, TRUE Private Wealth Advisors bought a new stake in shares of American Electric Power in the third quarter worth about $178,000. 72.55% of the stock is currently owned by institutional investors and hedge funds.
AEP has been the subject of several recent analyst reports. Wells Fargo & Co increased their price target on American Electric Power from $77.00 to $81.00 and gave the stock an “outperform” rating in a report on Monday, September 17th. Morgan Stanley restated an “overweight” rating on shares of American Electric Power in a report on Wednesday, September 12th. Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a report on Monday, September 10th. They noted that the move was a valuation call. Bank of America increased their price target on American Electric Power from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, October 26th. Finally, Citigroup increased their price target on American Electric Power from $71.00 to $72.00 and gave the stock a “neutral” rating in a report on Monday, September 10th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $76.62.
American Electric Power (NYSE:AEP) last posted its quarterly earnings data on Thursday, October 25th. The utilities provider reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.05. The business had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.26 billion. American Electric Power had a return on equity of 10.78% and a net margin of 12.14%. During the same period last year, the company earned $1.10 earnings per share. On average, research analysts predict that American Electric Power Company Inc will post 3.96 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 9th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.54%. This is a boost from American Electric Power’s previous quarterly dividend of $0.62. The ex-dividend date is Thursday, November 8th. American Electric Power’s dividend payout ratio (DPR) is presently 72.83%.
In other news, insider Lisa M. Barton sold 881 shares of the firm’s stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $77.55, for a total value of $68,321.55. Following the completion of the sale, the insider now directly owns 581 shares of the company’s stock, valued at $45,056.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul Chodak III sold 847 shares of the firm’s stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $76.47, for a total value of $64,770.09. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.
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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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.
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