EverSource Wealth Advisors LLC Increases Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

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EverSource Wealth Advisors LLC lifted its stake in American Electric Power Company, Inc. (NASDAQ:AEPGet Rating) by 11.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,981 shares of the company’s stock after purchasing an additional 301 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in American Electric Power were worth $297,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Aldebaran Financial Inc. raised its position in shares of American Electric Power by 4.2% in the 1st quarter. Aldebaran Financial Inc. now owns 2,500 shares of the company’s stock valued at $249,000 after purchasing an additional 100 shares during the last quarter. Great Valley Advisor Group Inc. increased its holdings in American Electric Power by 2.5% in the 1st quarter. Great Valley Advisor Group Inc. now owns 4,157 shares of the company’s stock worth $406,000 after buying an additional 100 shares during the period. Bridgewater Advisors Inc. increased its holdings in American Electric Power by 2.2% in the 1st quarter. Bridgewater Advisors Inc. now owns 4,664 shares of the company’s stock worth $465,000 after buying an additional 101 shares during the period. Bogart Wealth LLC increased its holdings in American Electric Power by 6.3% in the 1st quarter. Bogart Wealth LLC now owns 1,723 shares of the company’s stock worth $172,000 after buying an additional 102 shares during the period. Finally, Gryphon Financial Partners LLC increased its holdings in American Electric Power by 1.8% in the 1st quarter. Gryphon Financial Partners LLC now owns 5,875 shares of the company’s stock worth $586,000 after buying an additional 105 shares during the period. 74.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Credit Suisse Group increased their price target on shares of American Electric Power from $103.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday, July 28th. Evercore ISI increased their price target on shares of American Electric Power to $107.00 in a report on Monday, August 15th. Citigroup increased their price target on shares of American Electric Power from $94.00 to $99.00 in a report on Thursday, July 28th. Finally, Morgan Stanley increased their price target on shares of American Electric Power from $111.00 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday, August 23rd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, American Electric Power currently has a consensus rating of “Moderate Buy” and an average price target of $105.71.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $100.19 on Friday. The stock has a market capitalization of $51.47 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 3.30 and a beta of 0.34. American Electric Power Company, Inc. has a 12 month low of $80.22 and a 12 month high of $105.60. The firm’s 50 day simple moving average is $99.87 and its 200-day simple moving average is $98.84. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.66.

American Electric Power (NASDAQ:AEPGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.01. American Electric Power had a net margin of 14.39% and a return on equity of 10.46%. The business had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $3.98 billion. During the same quarter last year, the company earned $1.18 EPS. The business’s revenue was up 21.1% on a year-over-year basis. Analysts expect that American Electric Power Company, Inc. will post 5 EPS for the current year.

American Electric Power Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Wednesday, August 10th were paid a $0.78 dividend. The ex-dividend date was Tuesday, August 9th. This represents a $3.12 dividend on an annualized basis and a yield of 3.11%. American Electric Power’s dividend payout ratio is currently 61.30%.

About American Electric Power

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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.

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