My Legacy Advisors LLC Sells 2,579 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

My Legacy Advisors LLC trimmed its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 18.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,510 shares of the company’s stock after selling 2,579 shares during the quarter. My Legacy Advisors LLC’s holdings in American Electric Power were worth $1,181,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. HHM Wealth Advisors LLC grew its position in shares of American Electric Power by 57.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after acquiring an additional 103 shares during the period. Denali Advisors LLC bought a new stake in shares of American Electric Power during the first quarter worth $26,000. LRI Investments LLC grew its stake in American Electric Power by 935.9% in the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after acquiring an additional 365 shares in the last quarter. Briaud Financial Planning Inc grew its stake in American Electric Power by 52.1% in the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after purchasing an additional 150 shares in the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of American Electric Power during the first quarter valued at $41,000. 75.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AEP. BMO Capital Markets lifted their price objective on shares of American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Morgan Stanley lifted their price objective on shares of American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. boosted their target price 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. Jefferies Financial Group started coverage on shares of American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 target price for the company. Finally, Guggenheim upped their price objective on shares of American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, American Electric Power presently has a consensus rating of “Hold” and a consensus target price of $98.43.

American Electric Power Price Performance

Shares of NASDAQ AEP traded down $0.12 on Tuesday, hitting $100.04. The company’s stock had a trading volume of 733,017 shares, compared to its average volume of 3,124,885. The stock has a 50 day moving average of $100.49 and a 200-day moving average of $93.52. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.48. The company has a market capitalization of $52.73 billion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 2.79 and a beta of 0.54. American Electric Power Company, Inc. has a 12-month low of $72.01 and a 12-month high of $105.18.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the prior year, the business posted $1.13 earnings per share. American Electric Power’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, research analysts predict that American Electric Power Company, Inc. will post 5.6 EPS for the current year.

American Electric Power Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a $0.88 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.52 annualized dividend and a dividend yield of 3.52%. American Electric Power’s dividend payout ratio (DPR) is presently 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.