Avidian Wealth Enterprises LLC Takes $372,000 Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Avidian Wealth Enterprises LLC bought a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 4,036 shares of the company’s stock, valued at approximately $372,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AEP. Magnus Financial Group LLC purchased a new position in shares of American Electric Power during the 3rd quarter valued at approximately $225,000. First United Bank & Trust lifted its position in shares of American Electric Power by 17.1% during the 3rd quarter. First United Bank & Trust now owns 766 shares of the company’s stock valued at $79,000 after buying an additional 112 shares in the last quarter. Sumitomo Life Insurance Co. lifted its position in shares of American Electric Power by 3.1% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 8,737 shares of the company’s stock valued at $896,000 after buying an additional 262 shares in the last quarter. B.O.S.S. Retirement Advisors LLC lifted its position in shares of American Electric Power by 3.0% during the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 15,981 shares of the company’s stock valued at $1,640,000 after buying an additional 471 shares in the last quarter. Finally, Bfsg LLC lifted its position in shares of American Electric Power by 450.7% during the 3rd quarter. Bfsg LLC now owns 11,863 shares of the company’s stock valued at $1,217,000 after buying an additional 9,709 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Down 1.3 %

Shares of NASDAQ:AEP opened at $100.99 on Friday. The business has a 50-day moving average price of $95.38 and a 200 day moving average price of $97.90. The company has a current ratio of 0.57, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $53.74 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 2.84 and a beta of 0.58. American Electric Power Company, Inc. has a 12-month low of $78.07 and a 12-month high of $105.18.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.24. American Electric Power had a return on equity of 11.41% and a net margin of 13.48%. During the same quarter in the prior year, the business posted $1.23 earnings per share. Sell-side analysts expect that American Electric Power Company, Inc. will post 5.58 EPS for the current year.

American Electric Power Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date is Monday, February 10th. American Electric Power’s payout ratio is 74.55%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AEP shares. Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the company from $105.00 to $102.00 in a research report on Thursday, December 12th. Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Barclays decreased their price objective on American Electric Power from $100.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 26th. Bank of America upgraded American Electric Power from an “underperform” rating to a “buy” rating and raised their price objective for the company from $98.00 to $104.00 in a report on Monday, January 13th. Finally, Evercore ISI decreased their price objective on American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $98.00.

American Electric Power Company 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.