American Electric Power Company, Inc. (NASDAQ:AEP) Shares Acquired by Greenleaf Trust

Greenleaf Trust lifted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 4.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,377 shares of the company’s stock after purchasing an additional 359 shares during the quarter. Greenleaf Trust’s holdings in American Electric Power were worth $962,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. HHM Wealth Advisors LLC increased its stake in shares of American Electric Power by 57.2% during the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after buying an additional 103 shares during the period. Denali Advisors LLC purchased a new stake in shares of American Electric Power during the first quarter worth approximately $26,000. LRI Investments LLC increased its stake in shares of American Electric Power by 935.9% during the second quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after buying an additional 365 shares during the period. Briaud Financial Planning Inc increased its stake in shares of American Electric Power by 52.1% during the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after buying an additional 150 shares during the period. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of American Electric Power during the first quarter worth approximately $41,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Trading Down 1.4 %

Shares of AEP stock opened at $99.39 on Friday. The firm has a 50-day moving average price of $100.60 and a 200 day moving average price of $93.68. American Electric Power Company, Inc. has a twelve month low of $74.37 and a twelve month high of $105.18. The company has a market capitalization of $52.39 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 2.79 and a beta of 0.54. 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 (NASDAQ:AEP) last announced its earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share 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 during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the previous year, the company posted $1.13 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. Research analysts forecast that American Electric Power Company, Inc. will post 5.6 earnings per share for the current fiscal year.

American Electric Power Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.93 per share. The ex-dividend date is Friday, November 8th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.74%. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio is currently 65.31%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AEP. Bank of America upped their target price 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. Barclays increased their price target on shares of 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. Morgan Stanley increased their price target on shares of 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. increased their price target on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Finally, Scotiabank increased their price target on shares of American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price 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.