2,489 Shares in American Electric Power Company, Inc. (NASDAQ:AEP) Purchased by IFG Advisory LLC

IFG Advisory LLC bought a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) during the second quarter, Holdings Channel.com reports. The institutional investor bought 2,489 shares of the company’s stock, valued at approximately $218,000.

Several other hedge funds also recently bought and sold shares of AEP. Bank of Stockton raised its holdings in shares of American Electric Power by 2.2% in the 2nd quarter. Bank of Stockton now owns 5,062 shares of the company’s stock valued at $444,000 after buying an additional 111 shares during the period. Richardson Financial Services Inc. grew its position in American Electric Power by 3.9% in the 1st 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. Bogart Wealth LLC increased its stake in American Electric Power by 7.8% during the first quarter. Bogart Wealth LLC now owns 1,650 shares of the company’s stock worth $142,000 after purchasing an additional 119 shares during the period. Welch Group LLC lifted its position in shares of American Electric Power by 1.8% during the second quarter. Welch Group LLC now owns 6,843 shares of the company’s stock worth $600,000 after purchasing an additional 120 shares in the last quarter. Finally, Garland Capital Management Inc. lifted its position in shares of American Electric Power by 0.3% during the second quarter. Garland Capital Management Inc. now owns 41,075 shares of the company’s stock worth $3,605,000 after purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Up 0.5 %

AEP stock opened at $100.28 on Tuesday. The company’s 50 day moving average is $94.62 and its two-hundred day moving average is $89.08. American Electric Power Company, Inc. has a twelve month low of $69.38 and a twelve month high of $104.41. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53. The stock has a market cap of $53.36 billion, a P/E ratio of 18.60, a PEG ratio of 2.87 and a beta of 0.53.

American Electric Power (NASDAQ:AEP) last announced its quarterly 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 net margin of 13.52% and a return on equity of 11.31%. The firm had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the previous year, the company earned $1.13 earnings per share. American Electric Power’s quarterly revenue was up 4.5% compared to the same quarter last year. Research analysts expect that American Electric Power Company, Inc. will post 5.59 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be paid 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 yield of 3.51%. American Electric Power’s dividend payout ratio is presently 65.31%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AEP shares. StockNews.com raised shares of American Electric Power from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Morgan Stanley increased their price objective on American Electric Power from $95.00 to $102.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. BMO Capital Markets boosted their target price on American Electric Power from $100.00 to $104.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. increased their price target on American Electric Power from $101.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Finally, Bank of America boosted 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. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $94.77.

Insider Buying and Selling

In other news, EVP Antonio P. Smyth sold 4,898 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $90.00, for a total value of $440,820.00. Following the completion of the sale, the executive vice president now directly owns 6,446 shares of the company’s stock, valued at $580,140. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.12% of the stock is currently owned by company insiders.

About American Electric Power

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.