Vise Technologies Inc. Makes New Investment in American Electric Power Company, Inc. $AEP

Key Points

• Vise Technologies acquired 47,060 AEP shares during the third quarter, valued at approximately $5.58 million. Institutional investors collectively own 75.24% of American Electric Power.
• AEP reported stronger-than-expected quarterly results, with earnings of $2.23 per share and revenue of $6.83 billion; revenue increased 13.7% year over year.
• The company raised its quarterly dividend to $0.97 per share, or $3.88 annually, producing a 3.0% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $139.50.

Vise Technologies Inc. purchased a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 47,060 shares of the company's stock, valued at approximately $5,583,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. purchased a new position in American Electric Power in the 2nd quarter worth about $6,980,601,000. Wellington Management Group LLP raised its stake in American Electric Power by 5.4% in the second quarter. Wellington Management Group LLP now owns 13,872,005 shares of the company's stock worth $1,897,829,000 after buying an additional 715,613 shares in the last quarter. Bank of America Corp DE bought a new position in shares of American Electric Power in the 2nd quarter worth $1,678,638,000. GQG Partners LLC bought a new position in American Electric Power in the second quarter worth about $1,404,094,000. Finally, Legal & General Group Plc purchased a new stake in American Electric Power during the second quarter valued at approximately $680,638,000. Hedge funds and other institutional investors own 75.24% of the company's stock.

American Electric Power Stock Performance

Shares of American Electric Power stock opened at $130.33 on Tuesday. American Electric Power Company, Inc. has a one year low of $112.54 and a one year high of $140.58. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.38 and a current ratio of 0.50. The business's 50 day moving average price is $123.53 and its 200 day moving average price is $128.00. The company has a market cap of $70.97 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 2.64 and a beta of 0.48.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.19. The firm 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 10.62%. The company's revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.80 EPS. On average, research analysts predict that American Electric Power Company, Inc. will post 6.41 EPS for the current year.

American Electric Power Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Tuesday, November 10th will be issued a $0.97 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $3.88 annualized dividend and a dividend yield of 3.0%. This is an increase from American Electric Power's previous quarterly dividend of $0.95. American Electric Power's dividend payout ratio (DPR) is currently 62.68%.

Insider Buying and Selling

In other news, CAO Kate Dixon sold 2,000 shares of the firm's stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $125.00, for a total transaction of $250,000.00. Following the completion of the transaction, the chief accounting officer directly owned 15,856 shares in the company, valued at $1,982,000. This trade represents a 11.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.05% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AEP has been the subject of a number of research analyst reports. Truist Financial decreased their price target on American Electric Power from $146.00 to $139.00 and set a "buy" rating for the company in a research note on Monday, August 17th. HSBC initiated coverage on shares of American Electric Power in a report on Thursday, October 22nd. They issued a "buy" rating and a $145.90 price target on the stock. Barclays raised their price objective on shares of American Electric Power from $120.00 to $132.00 and gave the stock an "equal weight" rating in a research note on Monday. Citigroup cut their price target on American Electric Power from $148.00 to $142.00 and set a "neutral" rating for the company in a research note on Wednesday, August 5th. Finally, JPMorgan Chase & Co. cut their price target on shares of American Electric Power from $140.00 to $135.00 and set a "neutral" rating for the company in a report on Monday, October 19th. Sixteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $139.50.

American Electric Power Company Profile

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.

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