Romano Brothers AND Company Has $4.89 Million Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Romano Brothers AND Company boosted its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 12.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 47,670 shares of the company’s stock after buying an additional 5,218 shares during the quarter. Romano Brothers AND Company’s holdings in American Electric Power were worth $4,891,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in American Electric Power by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 49,630,436 shares of the company’s stock worth $4,273,181,000 after acquiring an additional 405,114 shares during the last quarter. Lazard Asset Management LLC boosted its position in shares of American Electric Power by 9.9% during the first quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company’s stock worth $739,303,000 after purchasing an additional 776,965 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of American Electric Power by 8.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,543,771 shares of the company’s stock valued at $466,191,000 after buying an additional 341,846 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of American Electric Power by 1.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,378,543 shares of the company’s stock valued at $296,433,000 after buying an additional 35,769 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in shares of American Electric Power by 542.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock valued at $193,541,000 after buying an additional 1,927,234 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Trading Up 0.9 %

AEP opened at $100.83 on Thursday. The stock has a market capitalization of $53.15 billion, a price-to-earnings ratio of 18.71, a P/E/G ratio of 2.79 and a beta of 0.54. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53. American Electric Power Company, Inc. has a twelve month low of $73.75 and a twelve month high of $105.18. The company has a 50-day simple moving average of $100.52 and a 200 day simple moving average of $93.63.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.02. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The business had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same period last year, the firm posted $1.13 earnings per share. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. Analysts predict 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 disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 8th will be given 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 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s dividend payout ratio is currently 65.31%.

Wall Street Analysts Forecast Growth

AEP has been the subject of a number of research reports. 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 note on Thursday, August 29th. Guggenheim raised their price objective on shares of American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. boosted their price objective on shares of American Electric Power from $108.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. BMO Capital Markets increased their target price on American Electric Power from $109.00 to $114.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Finally, Scotiabank boosted their price target on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Two investment 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’s stock. According to data from MarketBeat, American Electric Power has an average rating of “Hold” and an average price target of $98.43.

American Electric Power Profile

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.