American Electric Power Company, Inc. (NASDAQ:AEP) Stock Holdings Lowered by Marcum Wealth LLC

Marcum Wealth LLC cut its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 12.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,417 shares of the company’s stock after selling 508 shares during the quarter. Marcum Wealth LLC’s holdings in American Electric Power were worth $351,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AEP. HHM Wealth Advisors LLC grew its holdings in American Electric Power by 57.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after buying an additional 103 shares in the last quarter. Denali Advisors LLC acquired a new stake in American Electric Power in the first quarter worth about $26,000. Rise Advisors LLC acquired a new position in American Electric Power during the 1st quarter valued at about $27,000. LRI Investments LLC bought a new stake in shares of American Electric Power during the 1st quarter worth about $37,000. Finally, Briaud Financial Planning Inc lifted its stake in shares of American Electric Power by 52.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after acquiring an additional 150 shares during the period. 75.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on AEP. JPMorgan Chase & Co. boosted their target price on American Electric Power from $101.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Scotiabank boosted their price objective on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. BMO Capital Markets raised their target price on American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Guggenheim boosted their price target on shares of American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Finally, Bank of America upped their price target 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. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $96.79.

American Electric Power Trading Down 0.5 %

NASDAQ:AEP opened at $97.22 on Friday. 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’s 50 day moving average is $100.30 and its 200-day moving average is $92.64. The firm has a market cap of $51.25 billion, a price-to-earnings ratio of 18.04, a P/E/G ratio of 2.93 and a beta of 0.54. American Electric Power Company, Inc. has a 12 month low of $72.01 and a 12 month high of $105.18.

American Electric Power (NASDAQ:AEP) last released its 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 firm had revenue of $4.60 billion during the quarter, compared to analyst estimates 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 was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.13 EPS. Equities analysts anticipate that American Electric Power Company, Inc. will post 5.6 EPS for the current year.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend was Friday, August 9th. American Electric Power’s dividend payout ratio (DPR) is currently 65.31%.

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.