2,240 Shares in American Electric Power Company, Inc. (NASDAQ:AEP) Acquired by Dumont & Blake Investment Advisors LLC

Dumont & Blake Investment Advisors LLC purchased a new position in American Electric Power Company, Inc. (NASDAQ:AEP) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,240 shares of the company’s stock, valued at approximately $230,000.

Other hedge funds also recently modified their holdings of the company. HHM Wealth Advisors LLC raised its holdings in 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 American Electric Power during the 1st quarter valued at $26,000. LRI Investments LLC raised its holdings in American Electric Power by 935.9% during the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock valued at $35,000 after acquiring an additional 365 shares during the period. Briaud Financial Planning Inc raised its holdings in American Electric Power by 52.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after acquiring an additional 150 shares during the period. Finally, Future Financial Wealth Managment LLC bought a new stake in American Electric Power during the 1st quarter valued at $41,000. Institutional investors own 75.24% of the company’s stock.

Analyst Ratings Changes

AEP has been the topic of a number of analyst reports. Scotiabank boosted 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 report on Tuesday, August 20th. JPMorgan Chase & Co. upped their price target on shares of American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Morgan Stanley upped their price target on shares of American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Guggenheim upped their price target 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. Finally, Barclays upped their price target on shares of American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $98.43.

American Electric Power Stock Performance

NASDAQ AEP opened at $98.19 on Friday. The company has a 50-day simple moving average of $100.68 and a two-hundred day simple moving average of $93.82. 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 12-month low of $74.37 and a 12-month high of $105.18. The firm has a market cap of $51.76 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 2.79 and a beta of 0.54.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same period in the prior year, the business posted $1.13 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. On average, equities analysts forecast that American Electric Power Company, Inc. will post 5.6 EPS for the current year.

American Electric Power Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.79%. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Friday, November 8th. American Electric Power’s dividend payout ratio is 69.02%.

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.