American Electric Power Company, Inc. (NASDAQ:AEP) Stock Holdings Boosted by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. grew its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 27.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 26,498 shares of the company’s stock after purchasing an additional 5,671 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in American Electric Power were worth $2,325,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Wealthspire Advisors LLC grew its stake in shares of American Electric Power by 1.6% in the 2nd quarter. Wealthspire Advisors LLC now owns 16,100 shares of the company’s stock worth $1,413,000 after purchasing an additional 256 shares during the last quarter. Thoroughbred Financial Services LLC acquired a new position in American Electric Power in the second quarter worth approximately $217,000. Meeder Advisory Services Inc. increased its holdings in shares of American Electric Power by 31.2% in the second quarter. Meeder Advisory Services Inc. now owns 12,208 shares of the company’s stock valued at $1,071,000 after buying an additional 2,904 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of American Electric Power by 1.7% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 130,313 shares of the company’s stock valued at $11,523,000 after acquiring an additional 2,142 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of American Electric Power by 5.5% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 43,522 shares of the company’s stock worth $3,819,000 after acquiring an additional 2,271 shares in the last quarter. Institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Bank of America upped their target price on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. LADENBURG THALM/SH SH upgraded shares of American Electric Power from a “sell” rating to a “neutral” rating and boosted their price target for the company from $73.00 to $86.00 in a report on Thursday, June 6th. 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 research note on Monday, July 22nd. Barclays boosted their target price on shares of American Electric Power from $91.00 to $96.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Finally, BMO Capital Markets raised their target price on American Electric Power from $105.00 to $109.00 and gave the stock an “outperform” rating in a research report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, American Electric Power currently has a consensus rating of “Hold” and an average price target of $95.15.

American Electric Power Price Performance

Shares of NASDAQ:AEP opened at $104.21 on Wednesday. The business has a fifty day simple moving average of $98.07 and a 200 day simple moving average of $90.67. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53. American Electric Power Company, Inc. has a 1 year low of $69.38 and a 1 year high of $105.18. The firm has a market cap of $54.93 billion, a price-to-earnings ratio of 19.33, a P/E/G ratio of 2.95 and a beta of 0.54.

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 company had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.74 billion. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the business earned $1.13 EPS. As a group, sell-side analysts predict that American Electric Power Company, Inc. will post 5.59 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend was Friday, August 9th. American Electric Power’s dividend payout ratio is 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.