Altus Wealth Group LLC Has $1.92 Million Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Altus Wealth Group LLC raised its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 4.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,693 shares of the company’s stock after purchasing an additional 835 shares during the period. Altus Wealth Group LLC’s holdings in American Electric Power were worth $1,918,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. HHM Wealth Advisors LLC grew its stake in shares of American Electric Power by 57.2% in the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after acquiring an additional 103 shares in the last quarter. E Fund Management Co. Ltd. grew its stake in shares of American Electric Power by 2.0% in the second quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock valued at $464,000 after acquiring an additional 105 shares in the last quarter. Bank of Stockton grew its stake in shares of American Electric Power by 2.2% in the second quarter. Bank of Stockton now owns 5,062 shares of the company’s stock valued at $444,000 after acquiring an additional 111 shares in the last quarter. First United Bank & Trust grew its stake in shares of American Electric Power by 17.1% in the third quarter. First United Bank & Trust now owns 766 shares of the company’s stock valued at $79,000 after acquiring an additional 112 shares in the last quarter. Finally, Richardson Financial Services Inc. grew its stake in shares of American Electric Power by 3.9% in the first quarter. Richardson Financial Services Inc. now owns 3,084 shares of the company’s stock valued at $266,000 after acquiring an additional 115 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Price Performance

Shares of AEP stock traded up $0.37 on Wednesday, reaching $100.26. The company had a trading volume of 257,510 shares, compared to its average volume of 3,116,753. The stock has a market capitalization of $52.85 billion, a PE ratio of 18.53, a price-to-earnings-growth 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 one year low of $73.75 and a one year high of $105.18. The business’s 50-day moving average is $100.49 and its 200 day moving average is $93.52.

American Electric Power (NASDAQ:AEP) last issued 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. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business earned $1.13 EPS. Equities research analysts forecast 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 issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.71%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. American Electric Power’s dividend payout ratio (DPR) is 65.31%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AEP. Bank of America upped their price target on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Scotiabank increased their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Morgan Stanley increased 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. Barclays increased their price objective on shares of American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Finally, Jefferies Financial Group initiated coverage on shares of American Electric Power in a research note on Friday, September 20th. They set a “hold” rating and a $107.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $98.43.

American Electric Power Company 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.