American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Evermay Wealth Management LLC

Evermay Wealth Management LLC lowered its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 37.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 584 shares of the company’s stock after selling 351 shares during the quarter. Evermay Wealth Management LLC’s holdings in American Electric Power were worth $60,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. raised its stake in American Electric Power by 1.6% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,389,249 shares of the company’s stock valued at $119,614,000 after purchasing an additional 22,048 shares during the last quarter. Denali Advisors LLC acquired a new stake in American Electric Power during the 1st quarter worth $26,000. Norden Group LLC purchased a new stake in shares of American Electric Power during the first quarter worth $7,182,000. First Trust Direct Indexing L.P. raised its position in shares of American Electric Power by 1.4% in the first quarter. First Trust Direct Indexing L.P. now owns 13,043 shares of the company’s stock valued at $1,123,000 after buying an additional 178 shares during the last quarter. Finally, Accel Wealth Management lifted its stake in shares of American Electric Power by 16.0% in the first quarter. Accel Wealth Management now owns 3,103 shares of the company’s stock worth $267,000 after buying an additional 428 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AEP shares. Wells Fargo & Company upped their price objective on shares of American Electric Power from $98.00 to $104.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Bank of America increased their price target on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Jefferies Financial Group initiated coverage on American Electric Power in a research note on Friday, September 20th. They set a “hold” rating and a $107.00 price objective on the stock. Morgan Stanley raised their target price on American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Finally, JPMorgan Chase & Co. boosted 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 report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $98.43.

American Electric Power Price Performance

Shares of AEP opened at $97.40 on Thursday. The firm has a 50-day simple moving average of $100.69 and a two-hundred day simple moving average of $94.20. The stock has a market cap of $51.83 billion, a PE ratio of 19.40, a P/E/G ratio of 2.79 and a beta of 0.54. American Electric Power Company, Inc. has a 1-year low of $74.73 and a 1-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.

American Electric Power (NASDAQ:AEP) last posted 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 last year, the firm earned $1.13 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, analysts forecast that American Electric Power Company, Inc. will post 5.6 EPS for the current year.

American Electric Power Increases Dividend

The company 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 $0.93 dividend. The ex-dividend date of this dividend is Friday, November 8th. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.82%. American Electric Power’s payout ratio is presently 74.10%.

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.