488 Shares in American Electric Power Company, Inc. (NASDAQ:AEP) Bought by Friedenthal Financial

Friedenthal Financial bought a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 488 shares of the company’s stock, valued at approximately $50,000.

A number of other hedge funds have also recently made changes to their positions in AEP. HHM Wealth Advisors LLC boosted its position in American Electric Power by 57.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after buying an additional 103 shares during the period. Denali Advisors LLC bought a new position in American Electric Power during the 1st quarter worth $26,000. Rise Advisors LLC acquired a new position in American Electric Power during the 1st quarter worth about $27,000. LRI Investments LLC lifted 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 worth $35,000 after buying an additional 365 shares during the period. Finally, Briaud Financial Planning Inc grew its position in shares of American Electric Power by 52.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after buying an additional 150 shares during the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AEP shares. JPMorgan Chase & Co. lifted their price objective on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday. Wells Fargo & Company lifted their target price on shares of American Electric Power from $98.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Scotiabank upped their price target on shares of American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Bank of America lifted their price objective on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Finally, Morgan Stanley lifted their target price on American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. 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 company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $98.43.

American Electric Power Price Performance

AEP stock opened at $100.69 on Friday. The company has a market capitalization of $53.08 billion, a P/E ratio of 18.68, a price-to-earnings-growth ratio of 2.79 and a beta of 0.54. American Electric Power Company, Inc. has a 52-week low of $72.01 and a 52-week high of $105.18. The business has a 50-day simple moving average of $100.43 and a two-hundred day simple moving average of $93.29. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 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 return on equity of 11.31% and a net margin of 13.52%. American Electric Power’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.13 EPS. Research analysts expect that American Electric Power Company, Inc. will post 5.6 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a $0.88 dividend. The ex-dividend date was Friday, August 9th. This represents a $3.52 annualized dividend and a yield of 3.50%. American Electric Power’s dividend payout ratio (DPR) is 65.31%.

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.