American Electric Power Company, Inc. $AEP Stock Holdings Lifted by Welch Group LLC

Key Points

• Welch Group increased its AEP stake by 2.6% in the third quarter to 394,440 shares valued at approximately $46.8 million. Institutional investors collectively own 75.24% of AEP.
• AEP reported stronger-than-expected quarterly results, with earnings of $2.23 per share and revenue of $6.83 billion, up 13.7% year over year.
• The company raised its quarterly dividend from $0.95 to $0.97 per share, implying an annualized dividend of $3.88 and a 3.0% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $139.

Welch Group LLC lifted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 2.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 394,440 shares of the company's stock after acquiring an additional 9,907 shares during the quarter. American Electric Power makes up approximately 1.6% of Welch Group LLC's holdings, making the stock its 29th largest holding. Welch Group LLC owned about 0.07% of American Electric Power worth $46,796,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of AEP. Orca Investment Management LLC bought a new position in shares of American Electric Power in the third quarter worth about $310,000. Greenleaf Trust grew its stake in shares of American Electric Power by 9.9% during the third quarter. Greenleaf Trust now owns 12,625 shares of the company's stock valued at $1,498,000 after purchasing an additional 1,140 shares during the last quarter. Nippon Life Global Investors Americas Inc. bought a new stake in shares of American Electric Power during the third quarter valued at approximately $998,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of American Electric Power in the third quarter valued at approximately $48,123,000. Finally, SFE Investment Counsel acquired a new position in shares of American Electric Power during the third quarter valued at $576,000. 75.24% of the stock is currently owned by institutional investors.

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 that occurred on Tuesday, September 8th. The shares were sold at an average price of $125.00, for a total value of $250,000.00. Following the completion of the sale, the chief accounting officer directly owned 15,856 shares in the company, valued at approximately $1,982,000. The trade was a 11.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.05% of the company's stock.

American Electric Power Price Performance

American Electric Power stock opened at $130.21 on Monday. The stock's 50 day moving average is $123.35 and its 200-day moving average is $127.93. The company has a market capitalization of $70.90 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 2.68 and a beta of 0.46. American Electric Power Company, Inc. has a 12 month low of $112.54 and a 12 month high of $140.58. The company has a current ratio of 0.51, a quick ratio of 0.40 and a debt-to-equity ratio of 1.46.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its earnings results on Wednesday, October 28th. The company reported $2.23 earnings per share for the quarter, topping analysts' consensus estimates of $2.04 by $0.19. American Electric Power had a return on equity of 10.52% and a net margin of 14.21%. The company had revenue of $6.83 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter last year, the firm earned $1.80 earnings per share. The company's revenue was up 13.7% on a year-over-year basis. Equities research analysts expect that American Electric Power Company, Inc. will post 6.41 EPS for the current year.

American Electric Power Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. KeyCorp raised shares of American Electric Power from a "sector weight" rating to an "overweight" rating and set a $133.00 target price on the stock in a research note on Monday, October 12th. Morgan Stanley increased their price objective on shares of American Electric Power from $128.00 to $130.00 and gave the company an "overweight" rating in a report on Wednesday, October 21st. Jefferies Financial Group decreased their target price on American Electric Power from $148.00 to $145.00 and set a "buy" rating for the company in a research report on Thursday, October 22nd. Weiss Ratings reissued a "buy (b)" rating on shares of American Electric Power in a research note on Thursday, August 27th. Finally, Mizuho dropped their price objective on shares of American Electric Power from $141.00 to $135.00 and set a "neutral" rating on the stock in a report on Friday, July 31st. Sixteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $139.00.

About American Electric Power

American Electric Power NASDAQ: AEP is an electric utility holding company that generates, transmits and distributes electricity to residential, commercial, industrial and institutional customers. Through its operating companies, AEP provides regulated electric service and manages power generation assets using a mix of energy resources, including natural gas, coal, nuclear, hydroelectric and renewable energy.

AEP operates one of the largest electric transmission systems in the United States and supplies electricity across portions of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.