Chronos Wealth Management LLC Raises Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Chronos Wealth Management LLC raised its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 14.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,850 shares of the company’s stock after buying an additional 350 shares during the period. Chronos Wealth Management LLC’s holdings in American Electric Power were worth $292,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Fisher Asset Management LLC increased its stake in shares of American Electric Power by 35.7% during the fourth quarter. Fisher Asset Management LLC now owns 7,190 shares of the company’s stock valued at $584,000 after buying an additional 1,892 shares during the period. Quadrature Capital Ltd purchased a new position in American Electric Power during the 4th quarter valued at $559,000. Rise Advisors LLC bought a new position in American Electric Power in the 1st quarter worth $27,000. Park Avenue Securities LLC lifted its position in shares of American Electric Power by 1.3% in the 1st quarter. Park Avenue Securities LLC now owns 28,548 shares of the company’s stock worth $2,458,000 after purchasing an additional 360 shares during the period. Finally, Marcum Wealth LLC lifted its position in shares of American Electric Power by 16.2% in the 1st quarter. Marcum Wealth LLC now owns 3,794 shares of the company’s stock worth $327,000 after purchasing an additional 528 shares during the period. Institutional investors own 75.24% of the company’s stock.

Analyst Ratings Changes

AEP has been the subject of a number of research reports. BMO Capital Markets increased their price target on shares of American Electric Power from $109.00 to $114.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Bank of America increased their target price on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Guggenheim lifted their price target on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. increased their price objective on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Wells Fargo & Company boosted their target price on shares of American Electric Power from $98.00 to $104.00 and gave the company an “equal weight” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $98.43.

American Electric Power Stock Down 0.2 %

Shares of American Electric Power stock opened at $100.69 on Friday. The company has a 50-day simple moving average of $100.43 and a two-hundred day simple moving average of $93.29. American Electric Power Company, Inc. has a 52-week low of $72.01 and a 52-week high of $105.18. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65. The stock has a market capitalization of $53.08 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 2.79 and a beta of 0.54.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.23 by $0.02. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same period last year, the business posted $1.13 EPS. The company’s revenue was up 4.5% compared to the same quarter last year. On average, analysts anticipate that American Electric Power Company, Inc. will post 5.6 EPS for the current fiscal year.

American Electric Power Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a dividend of $0.88 per share. The ex-dividend date was Friday, August 9th. This represents a $3.52 annualized dividend and a dividend yield of 3.50%. American Electric Power’s payout ratio is 65.31%.

About American Electric Power

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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.