Virginia Wealth Management Group Inc. Boosts Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Virginia Wealth Management Group Inc. boosted its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 15.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,063 shares of the company’s stock after acquiring an additional 554 shares during the quarter. Virginia Wealth Management Group Inc.’s holdings in American Electric Power were worth $417,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of American Electric Power by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 49,630,436 shares of the company’s stock valued at $4,273,181,000 after purchasing an additional 405,114 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of American Electric Power by 9.9% during the first quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company’s stock valued at $739,303,000 after buying an additional 776,965 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of American Electric Power by 1.1% in the second quarter. Envestnet Asset Management Inc. now owns 3,378,543 shares of the company’s stock worth $296,433,000 after buying an additional 35,769 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of American Electric Power by 542.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock valued at $193,541,000 after acquiring an additional 1,927,234 shares during the last quarter. Finally, Nomura Holdings Inc. purchased a new stake in American Electric Power during the 4th quarter valued at about $175,667,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Up 0.7 %

Shares of AEP stock traded up $0.67 during mid-day trading on Friday, hitting $97.89. The company’s stock had a trading volume of 139,406 shares, compared to its average volume of 3,142,056. The stock has a market cap of $52.09 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 2.79 and a beta of 0.54. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65. American Electric Power Company, Inc. has a 52-week low of $72.01 and a 52-week high of $105.18. The business has a 50-day moving average price of $100.30 and a 200 day moving average price of $92.64.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. The firm 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%. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.13 earnings per share. Research analysts predict that American Electric Power Company, Inc. will post 5.6 EPS for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 3.60%. The ex-dividend date was Friday, August 9th. American Electric Power’s payout ratio is currently 70.12%.

Analyst Ratings Changes

AEP has been the subject of a number of recent analyst reports. Jefferies Financial Group assumed coverage on shares of American Electric Power in a report on Friday, September 20th. They set a “hold” rating and a $107.00 price target for the company. Barclays increased their target price on shares of American Electric Power from $91.00 to $96.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Scotiabank boosted their price target on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Guggenheim increased their price objective on American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Finally, Morgan Stanley upped their target price on American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $96.79.

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.