Wealth Alliance Has $1.18 Million Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Wealth Alliance raised its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,400 shares of the company’s stock after buying an additional 162 shares during the period. Wealth Alliance’s holdings in American Electric Power were worth $1,176,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bradley Foster & Sargent Inc. CT bought a new position in shares of American Electric Power in the 2nd quarter valued at about $202,000. L & S Advisors Inc bought a new position in shares of American Electric Power in the 2nd quarter valued at about $2,398,000. Edgestream Partners L.P. bought a new position in shares of American Electric Power in the 2nd quarter valued at about $1,355,000. Excalibur Management Corp grew its position in shares of American Electric Power by 15.5% in the 2nd quarter. Excalibur Management Corp now owns 3,782 shares of the company’s stock valued at $332,000 after acquiring an additional 507 shares during the period. Finally, Wulff Hansen & CO. grew its position in shares of American Electric Power by 8,674.0% in the 2nd quarter. Wulff Hansen & CO. now owns 300,510 shares of the company’s stock valued at $26,367,000 after acquiring an additional 297,085 shares during the period. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Morgan Stanley lifted their price objective on shares of American Electric Power from $95.00 to $102.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Scotiabank lifted their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Barclays lifted their price objective on shares of American Electric Power from $91.00 to $96.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Bank of America lifted their price objective on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Finally, LADENBURG THALM/SH SH raised shares of American Electric Power from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $73.00 to $86.00 in a report on Thursday, June 6th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $95.15.

American Electric Power Stock Performance

NASDAQ AEP opened at $103.22 on Thursday. 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 company has a market capitalization of $54.41 billion, a P/E ratio of 19.15, a P/E/G ratio of 2.95 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 $105.18. The firm has a 50-day moving average price of $98.37 and a two-hundred day moving average price of $90.76.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.02. The firm 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 for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.13 EPS. Analysts anticipate that American Electric Power Company, Inc. will post 5.59 earnings per share for the current year.

American Electric Power Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend was Friday, August 9th. American Electric Power’s payout ratio is presently 65.31%.

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.