Biltmore Family Office LLC Takes Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Biltmore Family Office LLC purchased a new position in American Electric Power Company, Inc. (NASDAQ:AEP) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,439 shares of the company’s stock, valued at approximately $214,000.

A number of other large investors also recently bought and sold shares of AEP. Vanguard Group Inc. increased its position in shares of American Electric Power by 0.8% in the first quarter. Vanguard Group Inc. now owns 49,630,436 shares of the company’s stock valued at $4,273,181,000 after buying an additional 405,114 shares in the last quarter. Lazard Asset Management LLC increased its holdings in American Electric Power by 9.9% in the 1st quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company’s stock worth $739,303,000 after acquiring an additional 776,965 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in American Electric Power by 67.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 2,586,250 shares of the company’s stock worth $210,055,000 after acquiring an additional 1,043,885 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in American Electric Power by 542.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock worth $193,541,000 after acquiring an additional 1,927,234 shares during the period. Finally, Nomura Holdings Inc. purchased a new position in American Electric Power during the fourth quarter valued at $175,667,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Stock Performance

Shares of American Electric Power stock opened at $103.23 on Wednesday. The stock has a market capitalization of $54.41 billion, a price-to-earnings ratio of 19.15, a price-to-earnings-growth ratio of 2.92 and a beta of 0.54. 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 business has a 50-day moving average of $96.44 and a 200 day moving average of $89.96. American Electric Power Company, Inc. has a 12 month low of $69.38 and a 12 month high of $104.41.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings data 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 net margin of 13.52% and a return on equity of 11.31%. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter last year, the firm posted $1.13 earnings per share. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, sell-side analysts forecast that American Electric Power Company, Inc. will post 5.59 earnings per share for the current year.

American Electric Power Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date was Friday, August 9th. American Electric Power’s dividend payout ratio is presently 65.31%.

Analyst Ratings Changes

A number of analysts have recently commented on AEP shares. Morgan Stanley boosted their target price on shares of American Electric Power from $95.00 to $102.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. increased their target price on American Electric Power from $101.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. BMO Capital Markets raised their target price on American Electric Power from $105.00 to $109.00 and gave the company an “outperform” rating in a research report on Monday. LADENBURG THALM/SH SH upgraded American Electric Power from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $73.00 to $86.00 in a research report on Thursday, June 6th. Finally, Scotiabank raised their price objective on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $95.15.

About American Electric Power

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.