EverSource Wealth Advisors LLC Buys 239 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

EverSource Wealth Advisors LLC lifted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 7.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,570 shares of the company’s stock after buying an additional 239 shares during the period. EverSource Wealth Advisors LLC’s holdings in American Electric Power were worth $307,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Frazier Financial Advisors LLC purchased a new position in American Electric Power in the fourth quarter worth about $26,000. Denali Advisors LLC purchased a new position in American Electric Power in the first quarter worth about $26,000. Rise Advisors LLC purchased a new position in American Electric Power in the first quarter worth about $27,000. YHB Investment Advisors Inc. purchased a new position in American Electric Power in the first quarter worth about $29,000. Finally, Wetzel Investment Advisors Inc. purchased a new position in American Electric Power in the fourth quarter worth about $32,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Stock Up 0.5 %

Shares of American Electric Power stock traded up $0.55 on Friday, hitting $101.79. 4,453,719 shares of the company’s stock traded hands, compared to its average volume of 2,688,872. The stock has a market cap of $53.66 billion, a P/E ratio of 18.88, a PEG ratio of 2.92 and a beta of 0.53. The company has a quick ratio of 0.37, a current ratio of 0.65 and a debt-to-equity ratio of 1.53. The firm’s 50-day moving average is $90.48 and its 200 day moving average is $86.04. American Electric Power Company, Inc. has a 52-week low of $69.38 and a 52-week high of $104.35.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, topping 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 firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same period last year, the company earned $1.13 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. Equities analysts anticipate that American Electric Power Company, Inc. will post 5.59 earnings per share for the current year.

American Electric Power Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be given a $0.88 dividend. The ex-dividend date is Friday, August 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.46%. American Electric Power’s dividend payout ratio (DPR) is 65.31%.

Insider Activity at American Electric Power

In other news, insider Therace Risch 5,274 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Greg B. Hall sold 5,880 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $88.25, for a total value of $518,910.00. Following the completion of the sale, the executive vice president now directly owns 6,385 shares of the company’s stock, valued at approximately $563,476.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Therace Risch 5,274 shares of American Electric Power stock in a transaction that occurred on Tuesday, July 30th. The disclosure for this trade can be found here. 0.12% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AEP shares. BMO Capital Markets lifted their target price on American Electric Power from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Wells Fargo & Company boosted their price objective on American Electric Power from $84.00 to $89.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. LADENBURG THALM/SH SH upgraded American Electric Power from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $73.00 to $86.00 in a report on Thursday, June 6th. Scotiabank upped their target price on American Electric Power from $90.00 to $99.00 and gave the stock a “sector outperform” rating in a report on Wednesday. Finally, Morgan Stanley decreased their price objective on American Electric Power from $98.00 to $94.00 and set an “overweight” rating for the company in a research note on Monday, June 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $90.46.

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.