Sequoia Financial Advisors LLC Acquires 5,717 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Sequoia Financial Advisors LLC lifted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 5.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,096 shares of the company's stock after acquiring an additional 5,717 shares during the quarter. Sequoia Financial Advisors LLC's holdings in American Electric Power were worth $10,578,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Foundations Investment Advisors LLC lifted its position in American Electric Power by 5.2% during the 3rd quarter. Foundations Investment Advisors LLC now owns 6,954 shares of the company's stock worth $713,000 after buying an additional 346 shares in the last quarter. Venture Visionary Partners LLC lifted its position in shares of American Electric Power by 2.1% during the third quarter. Venture Visionary Partners LLC now owns 57,311 shares of the company's stock worth $5,880,000 after purchasing an additional 1,162 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of American Electric Power by 0.9% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 30,880 shares of the company's stock valued at $3,168,000 after purchasing an additional 285 shares during the last quarter. Whittier Trust Co. increased its holdings in shares of American Electric Power by 1.6% in the third quarter. Whittier Trust Co. now owns 83,613 shares of the company's stock valued at $8,578,000 after purchasing an additional 1,350 shares in the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in American Electric Power in the 3rd quarter worth approximately $157,000. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Stock Performance

Shares of AEP stock opened at $99.89 on Wednesday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65. American Electric Power Company, Inc. has a 52 week low of $72.01 and a 52 week high of $105.18. The company's 50 day moving average price is $100.49 and its two-hundred day moving average price is $93.52. The company has a market capitalization of $52.65 billion, a P/E ratio of 18.53, a price-to-earnings-growth ratio of 2.79 and a beta of 0.54.

American Electric Power (NASDAQ:AEP - Get Free Report) 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. The company had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.74 billion. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The firm's revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.13 earnings per share. On average, analysts expect that American Electric Power Company, Inc. will post 5.6 earnings per share for the current fiscal year.

American Electric Power Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be issued a dividend of $0.93 per share. 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 3.72%. American Electric Power's dividend payout ratio (DPR) is presently 65.31%.

Analyst Ratings Changes

Several research firms have recently commented on AEP. Morgan Stanley lifted their target price on American Electric Power from $102.00 to $108.00 and gave the company an "overweight" rating in a research note on Wednesday, September 25th. Wells Fargo & Company lifted their price objective on American Electric Power from $98.00 to $104.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 16th. Scotiabank upped their target price on shares of American Electric Power from $99.00 to $108.00 and gave the company a "sector outperform" rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. lifted their price target on shares of American Electric Power from $108.00 to $112.00 and gave the stock an "overweight" rating in a research report on Friday, October 18th. Finally, Jefferies Financial Group initiated coverage on shares of American Electric Power in a report on Friday, September 20th. They issued a "hold" rating and a $107.00 price objective on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target 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.