Sanctuary Advisors LLC Acquires New Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Sanctuary Advisors LLC acquired a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 148,620 shares of the company’s stock, valued at approximately $12,671,000.

A number of other large investors have also bought and sold shares of AEP. HHM Wealth Advisors LLC lifted its stake in shares of American Electric Power by 57.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after buying an additional 103 shares in the last quarter. Denali Advisors LLC bought a new stake in American Electric Power during the 1st quarter valued at $26,000. Rise Advisors LLC purchased a new stake in shares of American Electric Power during the first quarter worth $27,000. YHB Investment Advisors Inc. bought a new position in shares of American Electric Power in the first quarter worth $29,000. Finally, LRI Investments LLC grew its position in shares of American Electric Power by 935.9% in 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 in the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AEP has been the topic of a number of recent research reports. Bank of America increased their price objective on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Jefferies Financial Group began coverage on shares of American Electric Power in a research report on Friday, September 20th. They issued a “hold” rating and a $107.00 price objective for the company. JPMorgan Chase & Co. boosted 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 note on Wednesday, August 7th. Barclays increased their target price on shares of American Electric Power from $91.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Finally, Morgan Stanley boosted their price target on shares of American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $96.79.

American Electric Power Trading Down 0.4 %

Shares of AEP stock opened at $101.37 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53. The firm has a market cap of $53.43 billion, a P/E ratio of 18.81, a price-to-earnings-growth ratio of 2.93 and a beta of 0.54. The business has a 50-day moving average price of $100.29 and a two-hundred day moving average price of $92.11. American Electric Power Company, Inc. has a 12-month low of $69.38 and a 12-month high of $105.18.

American Electric Power (NASDAQ:AEP) last issued its 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. 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 revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.13 earnings per share. Equities analysts anticipate that American Electric Power Company, Inc. will post 5.6 EPS for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend was Friday, August 9th. American Electric Power’s dividend payout ratio is presently 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.