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

Altus Wealth Group LLC boosted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 4.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,693 shares of the company’s stock after purchasing an additional 835 shares during the quarter. Altus Wealth Group LLC’s holdings in American Electric Power were worth $1,918,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of AEP. Mitsubishi UFJ Trust & Banking Corp grew its holdings in American Electric Power by 542.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock valued at $193,541,000 after purchasing an additional 1,927,234 shares during the period. Nordea Investment Management AB boosted its holdings in shares of American Electric Power by 381.9% in the first quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock valued at $171,127,000 after buying an additional 1,581,734 shares during the period. National Bank of Canada FI boosted its holdings in shares of American Electric Power by 221.9% in the first quarter. National Bank of Canada FI now owns 1,715,346 shares of the company’s stock valued at $157,140,000 after buying an additional 1,182,451 shares during the period. Zimmer Partners LP boosted its holdings in shares of American Electric Power by 578.2% in the first quarter. Zimmer Partners LP now owns 975,000 shares of the company’s stock valued at $83,948,000 after buying an additional 831,235 shares during the period. Finally, Jennison Associates LLC acquired a new position in shares of American Electric Power in the first quarter valued at approximately $67,669,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AEP shares. BMO Capital Markets upped their price target 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. 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 report on Thursday, August 29th. Guggenheim upped their price target on shares of American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Jefferies Financial Group initiated coverage on shares of American Electric Power in a report on Friday, September 20th. They issued a “hold” rating and a $107.00 price target for the company. Finally, Wells Fargo & Company boosted their price objective on shares of American Electric Power from $98.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Two equities 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.com, the company presently has an average rating of “Hold” and a consensus price target of $98.43.

American Electric Power Stock Performance

NASDAQ AEP traded up $0.37 on Wednesday, hitting $100.26. 257,510 shares of the stock were exchanged, compared to its average volume of 3,116,753. 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 business’s fifty day moving average is $100.49 and its 200 day moving average is $93.52. American Electric Power Company, Inc. has a 52 week low of $73.75 and a 52 week high of $105.18. The company has a market capitalization of $52.85 billion, a PE ratio of 18.53, a P/E/G 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, 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 for the quarter, compared to analyst estimates of $4.74 billion. During the same period in the prior year, the firm posted $1.13 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. Research analysts anticipate that American Electric Power Company, Inc. will post 5.6 EPS for the current fiscal year.

American Electric Power Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a $0.93 dividend. This is an increase from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 annualized dividend and a dividend yield of 3.71%. American Electric Power’s payout ratio is currently 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.