47,060 Shares of American Electric Power Company, Inc. $AEP Purchased by Vise Technologies Inc.

Vise Technologies Inc. purchased a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) in the 3rd quarter, Holdings Channel reports. The firm purchased 47,060 shares of the company’s stock, valued at approximately $5,583,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new position in American Electric Power in the second quarter valued at approximately $6,980,601,000. Wellington Management Group LLP grew its position in American Electric Power by 5.4% during the 2nd quarter. Wellington Management Group LLP now owns 13,872,005 shares of the company’s stock worth $1,897,829,000 after purchasing an additional 715,613 shares during the last quarter. Bank of America Corp DE acquired a new position in American Electric Power in the 2nd quarter valued at about $1,678,638,000. GQG Partners LLC acquired a new position in shares of American Electric Power in the second quarter valued at approximately $1,404,094,000. Finally, Legal & General Group Plc acquired a new position in American Electric Power in the 2nd quarter valued at $680,638,000. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $130.33 on Tuesday. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.50 and a quick ratio of 0.38. American Electric Power Company, Inc. has a 1-year low of $112.54 and a 1-year high of $140.58. The business has a 50-day moving average of $123.53 and a 200-day moving average of $128.00. The company has a market capitalization of $70.97 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 2.64 and a beta of 0.48.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Wednesday, October 28th. The company reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.19. American Electric Power had a return on equity of 10.62% and a net margin of 14.21%. The business had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same period in the previous year, the company earned $1.80 earnings per share. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. On average, equities analysts anticipate that American Electric Power Company, Inc. will post 6.41 EPS for the current fiscal year.

American Electric Power Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Tuesday, November 10th will be paid a dividend of $0.97 per share. The ex-dividend date is Tuesday, November 10th. This is an increase from American Electric Power’s previous quarterly dividend of $0.95. This represents a $3.88 annualized dividend and a yield of 3.0%. American Electric Power’s payout ratio is currently 62.68%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Morgan Stanley increased their target price on American Electric Power from $128.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 21st. HSBC began coverage on shares of American Electric Power in a research report on Thursday, October 22nd. They set a “buy” rating and a $145.90 target price for the company. TD Cowen restated a “buy” rating on shares of American Electric Power in a research report on Wednesday, September 9th. Scotiabank decreased their target price on shares of American Electric Power from $140.00 to $131.00 and set a “sector perform” rating on the stock in a research report on Wednesday, September 30th. Finally, JPMorgan Chase & Co. decreased their price target on American Electric Power from $140.00 to $135.00 and set a “neutral” rating on the stock in a research note on Monday, October 19th. Sixteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $139.50.

Insider Transactions at American Electric Power

In related news, CAO Kate Dixon sold 2,000 shares of the firm’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $125.00, for a total transaction of $250,000.00. Following the transaction, the chief accounting officer directly owned 15,856 shares in the company, valued at $1,982,000. This trade represents a 11.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.05% of the stock is owned by company insiders.

About American Electric Power

American Electric Power (NASDAQ:AEP) is an electric utility holding company that generates, transmits and distributes electricity to residential, commercial, industrial and institutional customers. Through its operating companies, AEP provides regulated electric service and manages power generation assets using a mix of energy resources, including natural gas, coal, nuclear, hydroelectric and renewable energy.

AEP operates one of the largest electric transmission systems in the United States and supplies electricity across portions of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.