American Electric Power Company Inc (NYSE:AEP) Shares Bought by Foster Victor Wealth Advisors LLC

Foster Victor Wealth Advisors LLC raised its holdings in American Electric Power Company Inc (NYSE:AEP) by 82.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,497 shares of the utilities provider’s stock after acquiring an additional 7,917 shares during the quarter. Foster Victor Wealth Advisors LLC’s holdings in American Electric Power were worth $1,640,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. IMA Wealth Inc. purchased a new stake in American Electric Power during the second quarter valued at about $30,000. JJJ Advisors Inc. purchased a new stake in American Electric Power during the second quarter valued at about $31,000. Weaver Consulting Group purchased a new stake in American Electric Power during the first quarter valued at about $32,000. Tarbox Family Office Inc. lifted its stake in American Electric Power by 38.9% during the second quarter. Tarbox Family Office Inc. now owns 436 shares of the utilities provider’s stock valued at $38,000 after buying an additional 122 shares in the last quarter. Finally, Kings Point Capital Management purchased a new stake in American Electric Power during the second quarter valued at about $39,000. 73.76% of the stock is owned by institutional investors.

In related news, insider Charles E. Zebula sold 1,216 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $90.98, for a total value of $110,631.68. Following the transaction, the insider now owns 7,420 shares in the company, valued at $675,071.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Brian X. Tierney sold 4,458 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $89.73, for a total value of $400,016.34. Following the completion of the transaction, the vice president now owns 39,745 shares in the company, valued at approximately $3,566,318.85. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

A number of analysts have recently issued reports on AEP shares. ValuEngine lowered shares of American Electric Power from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Mizuho increased their price target on shares of American Electric Power from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Bank of America reissued a “buy” rating and issued a $98.00 price target (up from $93.00) on shares of American Electric Power in a research report on Tuesday, July 9th. Morgan Stanley increased their price target on shares of American Electric Power from $91.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Zacks Investment Research raised shares of American Electric Power from a “sell” rating to a “hold” rating and set a $96.00 price target for the company in a research report on Thursday, July 11th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $92.45.

Shares of NYSE AEP traded down $0.25 during mid-day trading on Friday, reaching $92.36. The company had a trading volume of 1,470,640 shares, compared to its average volume of 2,438,040. The stock has a fifty day moving average of $92.21 and a two-hundred day moving average of $88.59. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.36 and a current ratio of 0.49. The company has a market capitalization of $45.71 billion, a price-to-earnings ratio of 23.38, a PEG ratio of 3.96 and a beta of 0.09. American Electric Power Company Inc has a 12-month low of $70.31 and a 12-month high of $94.89.

American Electric Power (NYSE:AEP) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. American Electric Power had a net margin of 12.53% and a return on equity of 10.69%. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same period in the prior year, the firm earned $1.01 earnings per share. The firm’s revenue was down 10.0% compared to the same quarter last year. Sell-side analysts forecast that American Electric Power Company Inc will post 4.13 earnings per share for the current fiscal year.

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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

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Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

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