Aaron Wealth Advisors LLC Raises Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Aaron Wealth Advisors LLC boosted its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 20.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,944 shares of the company’s stock after purchasing an additional 506 shares during the period. Aaron Wealth Advisors LLC’s holdings in American Electric Power were worth $302,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. HHM Wealth Advisors LLC increased its position in American Electric Power by 57.2% during the second 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 last quarter. Denali Advisors LLC purchased a new stake in shares of American Electric Power during the 1st quarter valued at about $26,000. LRI Investments LLC lifted its stake in shares of American Electric Power by 935.9% in the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after purchasing an additional 365 shares during the period. Briaud Financial Planning Inc boosted its holdings in shares of American Electric Power by 52.1% in the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after buying an additional 150 shares during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of American Electric Power in the first quarter worth approximately $41,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Price Performance

Shares of NASDAQ:AEP opened at $100.69 on Friday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65. The firm has a market cap of $53.08 billion, a price-to-earnings ratio of 18.68, a P/E/G ratio of 2.79 and a beta of 0.54. The firm has a fifty day moving average price of $100.43 and a 200 day moving average price of $93.34. American Electric Power Company, Inc. has a fifty-two week low of $72.01 and a fifty-two week high of $105.18.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.23 by $0.02. The business had revenue of $4.60 billion during 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%. The business’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.13 EPS. As a group, sell-side analysts expect that American Electric Power Company, Inc. will post 5.6 earnings per share 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. Stockholders of record on Friday, August 9th were issued a dividend of $0.88 per share. The ex-dividend date was Friday, August 9th. This represents a $3.52 annualized dividend and a dividend yield of 3.50%. American Electric Power’s dividend payout ratio (DPR) is 65.31%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AEP shares. Morgan Stanley increased their price target on shares of American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Wells Fargo & Company lifted their target price on American Electric Power from $98.00 to $104.00 and gave the company an “equal weight” rating in a research report on Wednesday. JPMorgan Chase & Co. upped their price target on American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday. Guggenheim boosted their price objective on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Finally, Scotiabank increased their target price on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, seven 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 a consensus rating of “Hold” and an average target price of $98.43.

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.