Axxcess Wealth Management LLC Increases Position in American Electric Power Company, Inc. (NASDAQ:AEP)

by · The Cerbat Gem

Axxcess Wealth Management LLC boosted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 0.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,130 shares of the company’s stock after purchasing an additional 198 shares during the quarter. Axxcess Wealth Management LLC’s holdings in American Electric Power were worth $3,809,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. HHM Wealth Advisors LLC raised its position in American Electric Power by 57.2% during the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after acquiring an additional 103 shares during the period. E Fund Management Co. Ltd. lifted its position in shares of American Electric Power by 2.0% in the second quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock valued at $464,000 after acquiring an additional 105 shares in the last quarter. XML Financial LLC boosted its stake in shares of American Electric Power by 3.8% in the third quarter. XML Financial LLC now owns 2,921 shares of the company’s stock worth $300,000 after acquiring an additional 106 shares during the last quarter. Garrison Asset Management LLC increased its position in shares of American Electric Power by 0.6% during the third quarter. Garrison Asset Management LLC now owns 19,009 shares of the company’s stock worth $1,950,000 after purchasing an additional 109 shares in the last quarter. Finally, Roanoke Asset Management Corp NY raised its stake in American Electric Power by 2.2% in the 3rd quarter. Roanoke Asset Management Corp NY now owns 5,025 shares of the company’s stock valued at $516,000 after purchasing an additional 110 shares during the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Trading Up 0.1 %

AEP opened at $96.40 on Monday. The company has a quick ratio of 0.48, a current ratio of 0.57 and a debt-to-equity ratio of 1.47. The firm has a market cap of $51.30 billion, a P/E ratio of 19.32, a P/E/G ratio of 2.74 and a beta of 0.55. American Electric Power Company, Inc. has a 52 week low of $74.97 and a 52 week high of $105.18. The business has a fifty day simple moving average of $100.51 and a 200-day simple moving average of $94.99.

American Electric Power Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.93 per share. The ex-dividend date is Friday, November 8th. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. This represents a $3.72 dividend on an annualized basis and a yield of 3.86%. American Electric Power’s dividend payout ratio is 74.55%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AEP. Barclays upped their target price on shares of American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Bank of America increased their price objective on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Scotiabank boosted their target price 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. Guggenheim increased their price target on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Finally, Evercore ISI lowered their price objective on American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research note on Thursday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $98.27.

Get Our Latest Research Report on AEP

About American Electric Power

(Free Report)

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.

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