First Trust Direct Indexing L.P. Raises Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

First Trust Direct Indexing L.P. increased its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 24.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,780 shares of the company’s stock after buying an additional 3,886 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in American Electric Power were worth $2,029,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. HHM Wealth Advisors LLC increased its holdings in American Electric Power by 57.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after purchasing an additional 103 shares in the last quarter. Denali Advisors LLC acquired a new stake in American Electric Power in the 1st quarter valued at $26,000. LRI Investments LLC acquired a new stake in American Electric Power in the 1st quarter valued at $37,000. Briaud Financial Planning Inc increased its holdings in American Electric Power by 52.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Finally, Friedenthal Financial acquired a new stake in American Electric Power in the 3rd quarter valued at $50,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Morgan Stanley raised their target price on American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. raised their target price on American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Barclays raised their target price on American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Guggenheim raised their target price on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Finally, BMO Capital Markets raised their target price on American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $98.43.

American Electric Power Stock Performance

Shares of NASDAQ AEP opened at $97.40 on Thursday. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53. The firm’s 50-day moving average price is $100.69 and its two-hundred day moving average price is $94.20. American Electric Power Company, Inc. has a 52-week low of $74.73 and a 52-week high of $105.18. The stock has a market capitalization of $51.83 billion, a P/E ratio of 19.40, a P/E/G ratio of 2.79 and a beta of 0.54.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company posted $1.13 earnings per share. American Electric Power’s revenue was up 4.5% on a year-over-year basis. As a group, sell-side analysts forecast that American Electric Power Company, Inc. will post 5.6 earnings per share for the current year.

American Electric Power Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date is Friday, November 8th. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s payout ratio is 74.10%.

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.