Commonwealth Equity Services LLC Sells 19,749 Shares of American Electric Power Company, Inc. $AEP

Key Points

• Commonwealth Equity Services cut its AEP stake by 8.4%, selling 19,749 shares in the third quarter and retaining 214,861 shares valued at about $25.5 million.
• AEP reported quarterly EPS of $2.23, beating the $2.04 consensus, while revenue rose 13.7% year over year to $6.83 billion. The company raised its quarterly dividend from $0.95 to $0.97 per share.
• Analysts give AEP a “Moderate Buy” consensus rating and an average price target of $139.83; 16 rate the stock Buy and eight rate it Hold.

Commonwealth Equity Services LLC lowered its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 8.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 214,861 shares of the company's stock after selling 19,749 shares during the period. Commonwealth Equity Services LLC's holdings in American Electric Power were worth $25,491,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Elevation Wealth Partners LLC raised its position in shares of American Electric Power by 118.0% during the second quarter. Elevation Wealth Partners LLC now owns 194 shares of the company's stock worth $27,000 after purchasing an additional 105 shares during the period. Parvin Asset Management LLC acquired a new position in shares of American Electric Power in the 2nd quarter valued at $27,000. Caitlin John LLC purchased a new position in American Electric Power in the 2nd quarter worth about $27,000. Premier Financial Group purchased a new position in American Electric Power in the 2nd quarter worth about $28,000. Finally, Highland Investment Advisors LLC purchased a new position in American Electric Power in the 2nd quarter worth about $32,000. Institutional investors own 75.24% of the company's stock.

American Electric Power Trading Up 1.4%

NASDAQ AEP opened at $128.33 on Tuesday. 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 Company, Inc. has a 1-year low of $112.54 and a 1-year high of $140.58. The firm's fifty day simple moving average is $124.09 and its 200-day simple moving average is $128.23. The company has a market capitalization of $69.88 billion, a PE ratio of 20.73, a price-to-earnings-growth ratio of 2.65 and a beta of 0.46.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its earnings results on Wednesday, October 28th. The company reported $2.23 EPS for the quarter, beating 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 firm had revenue of $6.83 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter in the previous year, the company posted $1.80 earnings per share. The business's quarterly revenue was up 13.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that American Electric Power Company, Inc. will post 6.44 earnings per share for the current fiscal year.

American Electric Power Increases Dividend

The company also recently declared 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. The ex-dividend date is Tuesday, November 10th. This represents a $3.88 annualized dividend and a dividend yield of 3.0%. This is a positive change from American Electric Power's previous quarterly dividend of $0.95. American Electric Power's dividend payout ratio is presently 61.39%.

Analyst Ratings Changes

AEP has been the topic of several analyst reports. Jefferies Financial Group set a $153.00 target price on shares of American Electric Power in a research report on Tuesday, November 3rd. Morgan Stanley upped their price target on shares of American Electric Power from $128.00 to $130.00 and gave the company an "overweight" rating in a research report on Wednesday, October 21st. Wells Fargo & Company raised their price objective on shares of American Electric Power from $148.00 to $149.00 and gave the stock an "overweight" rating in a research note on Thursday, October 29th. UBS Group set a $135.00 price objective on shares of American Electric Power in a research report on Monday, October 19th. Finally, Citigroup lowered their price objective on shares of American Electric Power from $148.00 to $142.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 5th. Sixteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, American Electric Power currently has an average rating of "Moderate Buy" and a consensus target price of $139.83.

Insider Activity

In related news, CAO Kate Dixon sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, September 8th. The stock was 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 owned 15,856 shares of the company's stock, valued at approximately $1,982,000. The trade was a 11.20% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.05% of the stock is currently owned by corporate 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.

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