American Electric Power Company, Inc. (NASDAQ:AEP) Shares Bought by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC grew its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,172 shares of the company’s stock after purchasing an additional 2,042 shares during the quarter. Axxcess Wealth Management LLC’s holdings in American Electric Power were worth $3,613,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. Legacy Investment Solutions LLC purchased a new stake in American Electric Power during the 3rd quarter worth about $25,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of American Electric Power during the fourth quarter worth about $25,000. Fairway Wealth LLC purchased a new stake in shares of American Electric Power during the fourth quarter worth about $32,000. Safe Harbor Fiduciary LLC acquired a new position in shares of American Electric Power in the third quarter valued at approximately $33,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of American Electric Power during the fourth quarter valued at approximately $35,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Stock Performance

NASDAQ:AEP opened at $105.99 on Wednesday. The firm’s fifty day simple moving average is $101.11 and its 200 day simple moving average is $98.95. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46. American Electric Power Company, Inc. has a twelve month low of $79.16 and a twelve month high of $109.52. The firm has a market capitalization of $56.52 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 2.97 and a beta of 0.50.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.24 EPS for the quarter, hitting analysts’ consensus estimates of $1.24. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. During the same quarter in the previous year, the firm earned $1.23 EPS. As a group, equities research analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend was Monday, February 10th. American Electric Power’s dividend payout ratio (DPR) is 66.43%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AEP shares. BMO Capital Markets cut their price target on American Electric Power from $108.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Scotiabank lowered American Electric Power from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the company from $105.00 to $102.00 in a research note on Thursday, December 12th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $102.00 price target (down from $109.00) on shares of American Electric Power in a research note on Thursday, December 12th. Guggenheim raised shares of American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Morgan Stanley decreased their target price on shares of American Electric Power from $109.00 to $104.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $99.23.

About American Electric Power

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.