American Electric Power Company, Inc. (NASDAQ:AEP) Shares Purchased by Busey Bank

Busey Bank raised its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 2.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,076 shares of the company’s stock after purchasing an additional 240 shares during the quarter. Busey Bank’s holdings in American Electric Power were worth $931,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. HHM Wealth Advisors LLC increased its stake in shares of American Electric Power by 57.2% in the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after buying an additional 103 shares during the last quarter. Denali Advisors LLC acquired a new stake in shares of American Electric Power in the 1st quarter worth about $26,000. LRI Investments LLC raised its holdings in shares of American Electric Power by 935.9% during the second quarter. LRI Investments LLC now owns 404 shares of the company’s stock valued at $35,000 after buying an additional 365 shares during the last quarter. Briaud Financial Planning Inc raised its stake in American Electric Power by 52.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after acquiring an additional 150 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in American Electric Power in the first quarter worth about $41,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AEP has been the topic of a number of research analyst reports. Barclays raised their price objective on shares of American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Guggenheim raised their target price on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Bank of America boosted their price target on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Scotiabank raised 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 report on Tuesday, August 20th. Finally, Jefferies Financial Group initiated coverage on shares of American Electric Power in a report on Friday, September 20th. They issued a “hold” rating and a $107.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $98.43.

American Electric Power Stock Performance

Shares of American Electric Power stock opened at $98.19 on Friday. The stock has a market cap of $51.76 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 2.79 and a beta of 0.54. American Electric Power Company, Inc. has a 12 month low of $74.37 and a 12 month high of $105.18. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53. The business has a fifty day simple moving average of $100.68 and a 200-day simple moving average of $93.82.

American Electric Power (NASDAQ:AEP) last released 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. The company had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.74 billion. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.13 EPS. On average, sell-side analysts anticipate that American Electric Power Company, Inc. will post 5.6 EPS for the current fiscal year.

American Electric Power Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be given a $0.93 dividend. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a yield of 3.79%. The ex-dividend date is Friday, November 8th. American Electric Power’s dividend payout ratio is presently 69.02%.

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.