Evermay Wealth Management LLC Sells 351 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Evermay Wealth Management LLC decreased 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 & Exchange Commission. The fund owned 584 shares of the company’s stock after selling 351 shares during the period. Evermay Wealth Management LLC’s holdings in American Electric Power were worth $60,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of AEP. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of American Electric Power by 1.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,389,249 shares of the company’s stock worth $119,614,000 after acquiring an additional 22,048 shares during the last quarter. Denali Advisors LLC purchased a new stake in American Electric Power during the 1st quarter worth approximately $26,000. Norden Group LLC acquired a new position in American Electric Power during the 1st quarter valued at approximately $7,182,000. First Trust Direct Indexing L.P. raised its holdings 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 worth $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% during 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 during the period. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Trading Up 0.0 %

Shares of American Electric Power stock 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 company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65. American Electric Power Company, Inc. has a fifty-two week low of $74.73 and a fifty-two week high of $105.18. The company has a market cap of $51.83 billion, a P/E ratio of 19.40, a price-to-earnings-growth ratio of 2.79 and a beta of 0.54.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.74 billion. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. American Electric Power’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.13 earnings per share. As a group, equities analysts predict that American Electric Power Company, Inc. will post 5.6 earnings per share for the current fiscal year.

American Electric Power Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 represents a $3.72 dividend on an annualized basis and a yield of 3.82%. This is a boost from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio (DPR) is currently 74.10%.

Analysts Set New Price Targets

AEP has been the topic of several research reports. Guggenheim raised their target price on American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Barclays lifted 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 increased their price target on shares of American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Scotiabank lifted their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Finally, 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 report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $98.43.

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.