American Electric Power Company, Inc. (NASDAQ:AEP) Shares Acquired by Plan Group Financial LLC

Plan Group Financial LLC lifted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 9.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,762 shares of the company’s stock after purchasing an additional 875 shares during the period. Plan Group Financial LLC’s holdings in American Electric Power were worth $1,002,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hodges Capital Management Inc. acquired a new stake in shares of American Electric Power during the first quarter worth about $1,615,000. Quantbot Technologies LP acquired a new stake in shares of American Electric Power during the first quarter worth about $1,731,000. Nordea Investment Management AB increased its position in shares of American Electric Power by 381.9% during the first quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock worth $171,127,000 after purchasing an additional 1,581,734 shares in the last quarter. Mizuho Markets Americas LLC increased its position in American Electric Power by 646.9% in the 1st quarter. Mizuho Markets Americas LLC now owns 261,440 shares of the company’s stock valued at $22,510,000 after acquiring an additional 226,435 shares during the period. Finally, ProShare Advisors LLC increased its position in American Electric Power by 21.7% in the 1st quarter. ProShare Advisors LLC now owns 582,692 shares of the company’s stock valued at $50,170,000 after acquiring an additional 103,771 shares during the period. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on AEP shares. JPMorgan Chase & Co. boosted their price target on American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. BMO Capital Markets boosted their price target on American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Bank of America boosted their price target on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Wells Fargo & Company boosted their price target on American Electric Power from $98.00 to $104.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Guggenheim boosted their price target on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, American Electric Power currently has an average rating of “Hold” and a consensus target price of $98.43.

American Electric Power Stock Performance

NASDAQ AEP opened at $100.00 on Wednesday. The stock has a market capitalization of $52.71 billion, a price-to-earnings ratio of 18.53, 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. The business’s 50 day moving average is $100.49 and its two-hundred day moving average is $93.52. American Electric Power Company, Inc. has a 12-month low of $73.75 and a 12-month high of $105.18.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. The business had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.74 billion. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.13 EPS. Research analysts expect that American Electric Power Company, Inc. will post 5.6 EPS for the current year.

American Electric Power Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.72%. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio is currently 65.31%.

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.