Smith Salley Wealth Management Buys 772 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Smith Salley Wealth Management grew its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 3.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,762 shares of the company’s stock after buying an additional 772 shares during the quarter. Smith Salley Wealth Management’s holdings in American Electric Power were worth $2,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealthcare Advisory Partners LLC grew its stake in shares of American Electric Power by 161.6% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 10,618 shares of the company’s stock valued at $914,000 after purchasing an additional 6,559 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in American Electric Power by 9.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 152,028 shares of the company’s stock valued at $13,090,000 after buying an additional 13,038 shares during the period. LVW Advisors LLC increased its holdings in American Electric Power by 43.5% during the first quarter. LVW Advisors LLC now owns 11,658 shares of the company’s stock valued at $1,004,000 after buying an additional 3,535 shares during the last quarter. Mirador Capital Partners LP raised its position in American Electric Power by 10.3% in the first quarter. Mirador Capital Partners LP now owns 9,397 shares of the company’s stock worth $809,000 after acquiring an additional 877 shares during the period. Finally, Aviance Capital Partners LLC boosted its stake in shares of American Electric Power by 151.7% during the 1st quarter. Aviance Capital Partners LLC now owns 7,135 shares of the company’s stock worth $614,000 after acquiring an additional 4,300 shares during the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Stock Performance

Shares of NASDAQ AEP opened at $98.19 on Friday. 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 company has a market cap of $51.76 billion, a P/E ratio of 18.22, a P/E/G ratio of 2.79 and a beta of 0.54. American Electric Power Company, Inc. has a 52-week low of $74.37 and a 52-week high of $105.18. The firm’s fifty day moving average is $100.68 and its two-hundred day moving average is $93.88.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $4.74 billion. During the same period in the prior year, the firm earned $1.13 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, analysts anticipate that American Electric Power Company, Inc. will post 5.6 EPS for the current fiscal year.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be issued a $0.93 dividend. The ex-dividend date of this dividend is Friday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.79%. American Electric Power’s payout ratio is 69.02%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AEP. Wells Fargo & Company upped their price objective on American Electric Power from $98.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. BMO Capital Markets upped their price target on American Electric Power from $109.00 to $114.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Jefferies Financial Group assumed coverage on American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 price objective on the stock. Barclays increased their target price on shares of American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Finally, Guggenheim lifted their price target on shares of American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $98.43.

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.