2,195 Shares in American Electric Power Company, Inc. (NASDAQ:AEP) Purchased by Magnus Financial Group LLC

Magnus Financial Group LLC purchased a new position in American Electric Power Company, Inc. (NASDAQ:AEP) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 2,195 shares of the company’s stock, valued at approximately $225,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Hodges Capital Management Inc. acquired a new position in American Electric Power in the first quarter worth about $1,615,000. Quantbot Technologies LP acquired a new position in American Electric Power in the first quarter worth about $1,731,000. Nordea Investment Management AB increased its holdings in shares of American Electric Power by 381.9% during the first quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock worth $171,127,000 after buying an additional 1,581,734 shares in the last quarter. Mizuho Markets Americas LLC increased its holdings in shares of American Electric Power by 646.9% during the first quarter. Mizuho Markets Americas LLC now owns 261,440 shares of the company’s stock worth $22,510,000 after buying an additional 226,435 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in shares of American Electric Power by 21.7% during the first quarter. ProShare Advisors LLC now owns 582,692 shares of the company’s stock worth $50,170,000 after buying an additional 103,771 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Stock Up 1.7 %

NASDAQ:AEP opened at $101.32 on Thursday. American Electric Power Company, Inc. has a 1 year low of $72.01 and a 1 year high of $105.18. 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 $53.41 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 2.79 and a beta of 0.54. The stock has a 50-day moving average price of $100.31 and a two-hundred day moving average price of $93.12.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.02. The company had revenue of $4.60 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.13 earnings per share. As a group, equities analysts expect that American Electric Power Company, Inc. will post 5.6 earnings per share for the current year.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.52 annualized dividend and a dividend yield of 3.47%. American Electric Power’s dividend payout ratio is currently 65.31%.

Wall Street Analysts Forecast Growth

AEP has been the subject of several recent analyst reports. Guggenheim raised their price objective on shares of American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Wells Fargo & Company raised 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 report on Wednesday. Jefferies Financial Group initiated coverage on shares of American Electric Power in a report on Friday, September 20th. They set a “hold” rating and a $107.00 price objective for the company. Morgan Stanley raised their price objective on shares of American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Finally, Bank of America raised their price objective on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $98.14.

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.