6,327 American Electric Power Company, Inc. $AEP Shares Acquired by Joseph Group Capital Management

Joseph Group Capital Management grew its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 16.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,442 shares of the company’s stock after acquiring an additional 6,327 shares during the quarter. Joseph Group Capital Management’s holdings in American Electric Power were worth $5,391,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new position in shares of American Electric Power in the 2nd quarter valued at $6,980,601,000. Wellington Management Group LLP boosted its stake in American Electric Power by 5.4% during the 2nd quarter. Wellington Management Group LLP now owns 13,872,005 shares of the company’s stock worth $1,897,829,000 after purchasing an additional 715,613 shares during the period. Bank of America Corp DE acquired a new stake in American Electric Power during the 2nd quarter worth $1,678,638,000. GQG Partners LLC acquired a new stake in American Electric Power during the 2nd quarter worth $1,404,094,000. Finally, Legal & General Group Plc purchased a new position in American Electric Power during the 2nd quarter worth $680,638,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $128.33 on Tuesday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.51 and a quick ratio of 0.40. The stock has a fifty day moving average price of $124.09 and a 200 day moving average price of $128.23. American Electric Power Company, Inc. has a 1-year low of $112.54 and a 1-year high of $140.58. The company has a market cap of $69.88 billion, a PE ratio of 20.73, a P/E/G ratio of 2.65 and a beta of 0.46.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.19. The company had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.55 billion. American Electric Power had a net margin of 14.21% and a return on equity of 10.52%. American Electric Power’s revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.80 EPS. Sell-side analysts forecast that American Electric Power Company, Inc. will post 6.44 EPS for the current year.

American Electric Power Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Tuesday, November 10th will be paid a $0.97 dividend. This is a boost from American Electric Power’s previous quarterly dividend of $0.95. The ex-dividend date is Tuesday, November 10th. This represents a $3.88 annualized dividend and a dividend yield of 3.0%. American Electric Power’s dividend payout ratio (DPR) is 61.39%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AEP. Scotiabank dropped their price objective on shares of American Electric Power from $140.00 to $131.00 and set a “sector perform” rating on the stock in a research note on Wednesday, September 30th. UBS Group set a $135.00 target price on shares of American Electric Power in a research note on Monday, October 19th. Morgan Stanley increased their target price on shares of American Electric Power from $128.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 21st. Weiss Ratings reissued a “buy (b)” rating on shares of American Electric Power in a report on Thursday, August 27th. Finally, Wall Street Zen upgraded American Electric Power from a “sell” rating to a “hold” rating in a research report on Saturday, October 24th. Sixteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, American Electric Power has a consensus rating of “Moderate Buy” and an average price target of $139.83.

Insider Buying and Selling at American Electric Power

In other news, CAO Kate Dixon sold 2,000 shares of American Electric Power stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $125.00, for a total value of $250,000.00. Following the sale, the chief accounting officer owned 15,856 shares of the company’s stock, valued at $1,982,000. The trade was a 11.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.05% of the stock is currently owned by insiders.

About American Electric Power

American Electric Power Company, Inc (NASDAQ:AEP) is an electric utility holding company based in Columbus, Ohio. Through its regulated utility subsidiaries, it generates or purchases electricity and delivers power to residential, commercial and industrial customers.

AEP’s operations include electric generation, transmission and distribution, with service territories across 11 states: Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.