American Electric Power Company, Inc. (NASDAQ:AEP) Position Boosted by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC increased its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 16.5% in the second quarter, Holdings Channel reports. The firm owned 6,608 shares of the company’s stock after purchasing an additional 934 shares during the quarter. Foundations Investment Advisors LLC’s holdings in American Electric Power were worth $580,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AEP. Frazier Financial Advisors LLC bought a new position in shares of American Electric Power in the 4th quarter worth about $26,000. Denali Advisors LLC acquired a new stake in American Electric Power during the first quarter worth about $26,000. Rise Advisors LLC bought a new position in American Electric Power in the first quarter worth about $27,000. YHB Investment Advisors Inc. acquired a new position in American Electric Power in the first quarter valued at approximately $29,000. Finally, LRI Investments LLC grew its holdings in shares of American Electric Power by 935.9% during the second quarter. LRI Investments LLC now owns 404 shares of the company’s stock valued at $35,000 after purchasing an additional 365 shares during the last quarter. 75.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Bank of America upped their price objective on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. 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 research report on Monday, July 22nd. JPMorgan Chase & Co. lifted their price objective on shares of American Electric Power from $101.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. BMO Capital Markets boosted their target price on shares of American Electric Power from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Finally, Morgan Stanley raised their price target on shares of American Electric Power from $95.00 to $102.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. 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 MarketBeat.com, American Electric Power has an average rating of “Hold” and a consensus price target of $94.77.

American Electric Power Stock Down 1.0 %

AEP stock opened at $102.05 on Friday. The company has a 50 day moving average of $95.80 and a two-hundred day moving average of $89.55. The company has a market cap of $53.79 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 2.87 and a beta of 0.54. American Electric Power Company, Inc. has a 12-month low of $69.38 and a 12-month high of $104.41. 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 (NASDAQ:AEP) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. The business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.74 billion. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. American Electric Power’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.13 earnings per share. On average, equities analysts anticipate that American Electric Power Company, Inc. will post 5.59 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $3.52 annualized dividend and a dividend yield of 3.45%. American Electric Power’s dividend payout ratio is 65.31%.

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.