Altus Wealth Group LLC Has $1.57 Million Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Altus Wealth Group LLC lifted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 2.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,858 shares of the company’s stock after purchasing an additional 476 shares during the quarter. Altus Wealth Group LLC’s holdings in American Electric Power were worth $1,567,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. MCF Advisors LLC boosted its stake in American Electric Power by 112.2% during the 2nd quarter. MCF Advisors LLC now owns 2,307 shares of the company’s stock valued at $202,000 after purchasing an additional 1,220 shares during the last quarter. Columbia Asset Management boosted its position in shares of American Electric Power by 5.6% during the second quarter. Columbia Asset Management now owns 9,281 shares of the company’s stock valued at $814,000 after buying an additional 495 shares during the last quarter. Hohimer Wealth Management LLC grew its holdings in American Electric Power by 3.4% during the second quarter. Hohimer Wealth Management LLC now owns 50,020 shares of the company’s stock worth $4,389,000 after buying an additional 1,634 shares in the last quarter. First Dallas Securities Inc. grew its holdings in American Electric Power by 12.3% during the second quarter. First Dallas Securities Inc. now owns 12,092 shares of the company’s stock worth $1,061,000 after buying an additional 1,326 shares in the last quarter. Finally, TD Asset Management Inc raised its position in American Electric Power by 0.9% in the 2nd quarter. TD Asset Management Inc now owns 281,634 shares of the company’s stock valued at $24,711,000 after buying an additional 2,606 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on AEP shares. Guggenheim upped their target price on shares of American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Bank of America boosted 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. Barclays lifted their price target on American Electric Power from $91.00 to $96.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. upped their price objective on American Electric Power from $101.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Finally, LADENBURG THALM/SH SH upgraded American Electric Power from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $73.00 to $86.00 in a research note on Thursday, June 6th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $94.77.

American Electric Power Price Performance

American Electric Power stock opened at $103.10 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.48. American Electric Power Company, Inc. has a one year low of $69.38 and a one year high of $104.41. The firm has a market capitalization of $54.35 billion, a P/E ratio of 19.13, a PEG ratio of 2.87 and a beta of 0.54. The business has a fifty day moving average price of $95.52 and a 200-day moving average price of $89.41.

American Electric Power (NASDAQ:AEP) last posted its earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the previous year, the firm earned $1.13 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, equities research analysts forecast that American Electric Power Company, Inc. will post 5.59 EPS for the current year.

American Electric Power Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be given a dividend of $0.88 per share. The ex-dividend date is Friday, August 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.41%. American Electric Power’s dividend payout ratio (DPR) is currently 65.31%.

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.