NovaPoint Capital LLC Purchases 632 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

NovaPoint Capital LLC increased its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 7.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,623 shares of the company’s stock after purchasing an additional 632 shares during the period. NovaPoint Capital LLC’s holdings in American Electric Power were worth $885,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake 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 boosted its stake in American Electric Power by 9.9% during the 1st quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company’s stock valued at $739,303,000 after purchasing an additional 776,965 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in American Electric Power by 1.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 3,378,543 shares of the company’s stock worth $296,433,000 after purchasing an additional 35,769 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of American Electric Power by 542.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock worth $193,541,000 after purchasing an additional 1,927,234 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of American Electric Power by 381.9% in the first quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock valued at $171,127,000 after purchasing an additional 1,581,734 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Stock Down 0.2 %

AEP opened at $100.69 on Friday. The company has a 50 day moving average of $100.43 and a 200 day moving average of $93.29. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53. American Electric Power Company, Inc. has a 12 month low of $72.01 and a 12 month high of $105.18. The company has a market cap of $53.08 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 2.79 and a beta of 0.54.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same period in the previous year, the company posted $1.13 EPS. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, sell-side analysts expect that American Electric Power Company, Inc. will post 5.6 EPS for the current year.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a dividend of $0.88 per share. The ex-dividend date was Friday, August 9th. This represents a $3.52 annualized dividend and a yield of 3.50%. American Electric Power’s dividend payout ratio is currently 65.31%.

Wall Street Analyst Weigh In

A number of research firms recently commented on AEP. JPMorgan Chase & Co. increased their price target on American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday. Barclays boosted their price target on shares of American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday. Wells Fargo & Company boosted their target price on American Electric Power from $98.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Scotiabank increased their price target on 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, Bank of America upped their price objective on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $98.43.

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.