Foster Victor Wealth Advisors LLC Raises Stock Position in American Electric Power Company Inc (NYSE:AEP)

Share on StockTwits

Foster Victor Wealth Advisors LLC grew its holdings in shares of American Electric Power Company Inc (NYSE:AEP) by 3.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,580 shares of the utilities provider’s stock after purchasing an additional 285 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in American Electric Power were worth $862,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Sageworth Trust Co increased its stake in American Electric Power by 1,026.9% during the first quarter. Sageworth Trust Co now owns 293 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 267 shares during the period. Legacy Advisors LLC purchased a new stake in American Electric Power during the first quarter worth about $25,000. Truvestments Capital LLC purchased a new stake in American Electric Power during the first quarter worth about $28,000. Glassman Wealth Services increased its stake in American Electric Power by 138.0% during the first quarter. Glassman Wealth Services now owns 388 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 225 shares during the period. Finally, Weaver Consulting Group purchased a new stake in American Electric Power during the first quarter worth about $32,000. Institutional investors own 73.53% of the company’s stock.

Shares of AEP stock traded up $0.12 during trading hours on Friday, reaching $89.20. 73,626 shares of the stock were exchanged, compared to its average volume of 1,768,736. The stock has a fifty day moving average price of $89.95. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.49 and a quick ratio of 0.37. American Electric Power Company Inc has a 12-month low of $68.92 and a 12-month high of $91.99. The stock has a market cap of $43.94 billion, a price-to-earnings ratio of 22.60, a P/E/G ratio of 3.82 and a beta of 0.16.

American Electric Power (NYSE:AEP) last released its earnings results on Thursday, July 25th. The utilities provider reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.02. American Electric Power had a net margin of 12.64% and a return on equity of 10.81%. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $4.13 billion. During the same period in the prior year, the firm earned $1.01 earnings per share. The business’s quarterly revenue was down 10.0% compared to the same quarter last year. As a group, research analysts predict that American Electric Power Company Inc will post 4.14 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Thursday, August 8th. American Electric Power’s dividend payout ratio (DPR) is 67.85%.

A number of brokerages have issued reports on AEP. Goldman Sachs Group reiterated a “neutral” rating and set a $393.00 price target on shares of Boeing in a research note on Monday, April 8th. Bank of America restated a “buy” rating and set a $43.00 target price (up from $36.00) on shares of The Medicines in a research note on Tuesday, July 9th. UBS Group restated a “buy” rating on shares of Linde in a research note on Friday, July 12th. Morgan Stanley set a $18.00 target price on shares of PG&E and gave the stock a “hold” rating in a research note on Friday, June 14th. Finally, Wolfe Research set a $205.00 target price on shares of Raytheon and gave the stock a “buy” rating in a research note on Friday, April 26th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $87.45.

In related news, CEO Nicholas K. Akins sold 11,152 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $84.94, for a total value of $947,250.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lisa M. Barton sold 1,752 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $89.41, for a total value of $156,646.32. Following the completion of the transaction, the insider now directly owns 34,460 shares of the company’s stock, valued at $3,081,068.60. The disclosure for this sale can be found here. Insiders sold 24,637 shares of company stock valued at $2,112,145 over the last ninety days. 0.16% of the stock is currently owned by corporate insiders.

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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

Read More: How to Invest in Marijuana Stocks

Want to see what other hedge funds are holding AEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Electric Power Company Inc (NYSE:AEP).

Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

Receive News & Ratings for American Electric Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Electric Power and related companies with MarketBeat.com's FREE daily email newsletter.