EverSource Wealth Advisors LLC Acquires 1,060 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

EverSource Wealth Advisors LLC boosted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 46.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,331 shares of the company’s stock after acquiring an additional 1,060 shares during the period. EverSource Wealth Advisors LLC’s holdings in American Electric Power were worth $271,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP lifted its stake in American Electric Power by 14.4% during the 3rd quarter. Wellington Management Group LLP now owns 28,591,562 shares of the company’s stock valued at $2,150,657,000 after acquiring an additional 3,589,451 shares during the period. Morgan Stanley boosted its holdings in American Electric Power by 4.1% in the third quarter. Morgan Stanley now owns 14,892,850 shares of the company’s stock worth $1,120,240,000 after purchasing an additional 587,145 shares during the last quarter. Invesco Ltd. grew its position in American Electric Power by 13.7% in the 3rd quarter. Invesco Ltd. now owns 9,798,204 shares of the company’s stock worth $737,021,000 after purchasing an additional 1,181,706 shares during the period. Royal Bank of Canada raised its stake in American Electric Power by 5.1% during the 3rd quarter. Royal Bank of Canada now owns 7,714,823 shares of the company’s stock valued at $580,308,000 after buying an additional 374,300 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in shares of American Electric Power by 18.1% during the 3rd quarter. Lazard Asset Management LLC now owns 4,311,429 shares of the company’s stock valued at $324,304,000 after buying an additional 660,599 shares during the period. Institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

AEP stock traded down $0.31 during midday trading on Friday, hitting $88.97. The company’s stock had a trading volume of 339,230 shares, compared to its average volume of 3,550,760. The firm has a market capitalization of $46.90 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 2.71 and a beta of 0.50. The company has a 50 day moving average of $86.22 and a two-hundred day moving average of $82.38. American Electric Power Company, Inc. has a 12 month low of $69.38 and a 12 month high of $93.44. The company has a quick ratio of 0.37, a current ratio of 0.54 and a debt-to-equity ratio of 1.50.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.25 by $0.02. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. The business had revenue of $5 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same quarter in the previous year, the company earned $1.11 EPS. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, analysts expect that American Electric Power Company, Inc. will post 5.58 EPS for the current year.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $3.52 annualized dividend and a dividend yield of 3.96%. American Electric Power’s dividend payout ratio (DPR) is 65.31%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Scotiabank upped their price objective on American Electric Power from $86.00 to $90.00 and gave the company a “sector outperform” rating in a research report on Wednesday, May 1st. UBS Group lowered shares of American Electric Power from a “neutral” rating to a “sell” rating and cut their target price for the company from $86.00 to $83.00 in a research report on Monday, March 11th. BMO Capital Markets increased their price target on shares of American Electric Power from $95.00 to $99.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 14th. Wells Fargo & Company boosted their price objective on shares of American Electric Power from $84.00 to $89.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. Finally, Royal Bank of Canada boosted their price target on American Electric Power from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $88.43.

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.