Powers Advisory Group LLC Makes New $214,000 Investment in American Electric Power Company, Inc. (NASDAQ:AEP)

Powers Advisory Group LLC purchased a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 2,087 shares of the company’s stock, valued at approximately $214,000.

Several other large investors have also recently modified their holdings of AEP. Chicago Capital LLC raised its stake in shares of American Electric Power by 4.7% in the third quarter. Chicago Capital LLC now owns 6,646 shares of the company’s stock worth $682,000 after purchasing an additional 301 shares during the last quarter. Friedenthal Financial purchased a new stake in shares of American Electric Power during the 3rd quarter valued at about $50,000. NovaPoint Capital LLC raised its holdings in shares of American Electric Power by 7.9% during the third quarter. NovaPoint Capital LLC now owns 8,623 shares of the company’s stock valued at $885,000 after purchasing an additional 632 shares during the last quarter. First Citizens Bank & Trust Co. lifted its position in American Electric Power by 1.7% during the third quarter. First Citizens Bank & Trust Co. now owns 32,720 shares of the company’s stock valued at $3,357,000 after purchasing an additional 538 shares during the period. Finally, Chronos Wealth Management LLC boosted its holdings in American Electric Power by 14.0% in the third quarter. Chronos Wealth Management LLC now owns 2,850 shares of the company’s stock worth $292,000 after purchasing an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Performance

NASDAQ:AEP opened at $100.69 on Friday. The stock has a 50-day moving average price of $100.43 and a 200 day moving average price of $93.34. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53. American Electric Power Company, Inc. has a 12-month low of $72.01 and a 12-month high of $105.18. The stock has a market capitalization 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.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter last year, the business posted $1.13 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities research analysts forecast that American Electric Power Company, Inc. will post 5.6 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 3.50%. The ex-dividend date was Friday, August 9th. American Electric Power’s dividend payout ratio (DPR) is presently 65.31%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AEP shares. Morgan Stanley increased their price target on American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Scotiabank raised their target price on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Jefferies Financial Group began coverage on shares of American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 price target for the company. BMO Capital Markets boosted their target price on shares of American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Finally, Barclays lifted their price target on shares of American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $98.43.

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.