Arkadios Wealth Advisors Has $2.75 Million Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Arkadios Wealth Advisors lowered its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 3.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 26,806 shares of the company’s stock after selling 1,002 shares during the period. Arkadios Wealth Advisors’ holdings in American Electric Power were worth $2,750,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Mitsubishi UFJ Trust & Banking Corp increased its holdings in American Electric Power by 542.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock worth $193,541,000 after purchasing an additional 1,927,234 shares in the last quarter. Nordea Investment Management AB increased its holdings in American Electric Power by 381.9% in the 1st 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. National Bank of Canada FI increased its holdings in American Electric Power by 221.9% in the 1st quarter. National Bank of Canada FI now owns 1,715,346 shares of the company’s stock worth $157,140,000 after purchasing an additional 1,182,451 shares in the last quarter. Zimmer Partners LP increased its holdings in American Electric Power by 578.2% in the 1st quarter. Zimmer Partners LP now owns 975,000 shares of the company’s stock worth $83,948,000 after purchasing an additional 831,235 shares in the last quarter. Finally, Jennison Associates LLC acquired a new position in American Electric Power in the 1st quarter worth about $67,669,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Bank of America upped their target price on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Barclays upped their target price on American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Morgan Stanley upped their price target on American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Jefferies Financial Group assumed coverage on American Electric Power in a research report on Friday, September 20th. They issued a “hold” rating and a $107.00 price target on the stock. Finally, BMO Capital Markets upped 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $98.43.

American Electric Power Stock Down 1.2 %

Shares of American Electric Power stock opened at $98.19 on Friday. American Electric Power Company, Inc. has a one year low of $74.37 and a one year high of $105.18. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.48. The stock’s 50-day moving average is $100.68 and its 200 day moving average is $93.88. The firm has a market cap of $51.76 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 2.79 and a beta of 0.54.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.23 by $0.02. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the prior year, the company earned $1.13 EPS. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities research analysts anticipate 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. Shareholders of record on Friday, November 8th will be issued a $0.93 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.72 annualized dividend and a yield of 3.79%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio is presently 69.02%.

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.