Sanctuary Advisors LLC Takes Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Sanctuary Advisors LLC purchased a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 148,620 shares of the company’s stock, valued at approximately $12,671,000.

Other institutional investors also recently modified their holdings of the company. HHM Wealth Advisors LLC increased its position in 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 purchasing an additional 103 shares during the period. E Fund Management Co. Ltd. boosted its stake in shares of American Electric Power by 2.0% in the 2nd quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock valued at $464,000 after purchasing an additional 105 shares during the last quarter. Bank of Stockton increased its position in shares of American Electric Power by 2.2% during the second quarter. Bank of Stockton now owns 5,062 shares of the company’s stock worth $444,000 after buying an additional 111 shares during the period. Richardson Financial Services Inc. raised its stake in American Electric Power by 3.9% during the first quarter. Richardson Financial Services Inc. now owns 3,084 shares of the company’s stock worth $266,000 after buying an additional 115 shares during the last quarter. Finally, Addison Advisors LLC lifted its holdings in American Electric Power by 14.8% in the second quarter. Addison Advisors LLC now owns 902 shares of the company’s stock valued at $79,000 after buying an additional 116 shares during the period. Institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. LADENBURG THALM/SH SH raised American Electric Power from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $73.00 to $86.00 in a research report on Thursday, June 6th. Morgan Stanley lifted their target price on American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Scotiabank increased their price target on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a 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 note on Thursday, August 1st. Finally, Bank of America increased their target price on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $96.79.

American Electric Power Trading Down 0.4 %

AEP opened at $101.37 on Friday. American Electric Power Company, Inc. has a fifty-two week low of $69.38 and a fifty-two week high of $105.18. The firm has a market capitalization of $53.43 billion, a PE ratio of 18.81, a P/E/G ratio of 2.93 and a beta of 0.54. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.48. The company’s 50-day moving average is $100.29 and its 200 day moving average is $92.11.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, topping the consensus estimate 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 return on equity of 11.31% and a net margin of 13.52%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.13 earnings per share. As a group, research analysts predict that American Electric Power Company, Inc. will post 5.6 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given 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 3.47%. American Electric Power’s dividend payout ratio is currently 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.