Heritage Wealth Management Inc. Takes Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Heritage Wealth Management Inc. purchased a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,110 shares of the company’s stock, valued at approximately $361,000.

A number of other hedge funds have also bought and sold shares of AEP. KBC Group NV increased its position in American Electric Power by 18.3% during the fourth quarter. KBC Group NV now owns 38,743 shares of the company’s stock worth $3,147,000 after acquiring an additional 5,993 shares during the period. The Manufacturers Life Insurance Company increased its position in American Electric Power by 3.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 861,127 shares of the company’s stock worth $69,941,000 after acquiring an additional 26,927 shares during the period. First Trust Advisors LP grew its stake in American Electric Power by 1.0% during the fourth quarter. First Trust Advisors LP now owns 1,395,676 shares of the company’s stock worth $113,357,000 after buying an additional 13,771 shares in the last quarter. Lake Street Advisors Group LLC acquired a new stake in American Electric Power during the fourth quarter worth about $215,000. Finally, Tower Research Capital LLC TRC grew its stake in American Electric Power by 98.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 78,403 shares of the company’s stock worth $6,368,000 after buying an additional 38,972 shares in the last quarter. 75.24% of the stock is owned by institutional investors.

American Electric Power Stock Down 0.4 %

NASDAQ:AEP opened at $101.81 on Thursday. The firm’s 50 day simple moving average is $100.18 and its 200 day simple moving average is $92.04. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.48. American Electric Power Company, Inc. has a one year low of $69.38 and a one year high of $105.18. The company has a market cap of $53.67 billion, a PE ratio of 18.89, a P/E/G ratio of 2.93 and a beta of 0.54.

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

American Electric Power Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.52 annualized dividend and a yield of 3.46%. American Electric Power’s dividend payout ratio is presently 65.31%.

Wall Street Analyst Weigh In

AEP has been the topic of a number of analyst reports. LADENBURG THALM/SH SH upgraded shares of American Electric Power from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $73.00 to $86.00 in a research note on Thursday, June 6th. Jefferies Financial Group initiated coverage on shares of American Electric Power in a research note on Friday, September 20th. They set a “hold” rating and a $107.00 price objective on the stock. Bank of America increased their price objective on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Morgan Stanley increased their price objective on shares of American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Finally, JPMorgan Chase & Co. increased their price objective on shares of American Electric Power from $101.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, American Electric Power has an average rating of “Hold” and a consensus price target of $96.43.

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.