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

Apollon Wealth Management LLC grew its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 10.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,053 shares of the company’s stock after buying an additional 1,928 shares during the quarter. Apollon Wealth Management LLC’s holdings in American Electric Power were worth $1,710,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP grew its holdings in shares of American Electric Power by 14.4% in the 3rd quarter. Wellington Management Group LLP now owns 28,591,562 shares of the company’s stock worth $2,150,657,000 after acquiring an additional 3,589,451 shares during the period. Morgan Stanley boosted its position in American Electric Power by 4.1% during the third quarter. Morgan Stanley now owns 14,892,850 shares of the company’s stock worth $1,120,240,000 after acquiring an additional 587,145 shares during the last quarter. Invesco Ltd. raised its holdings in American Electric Power by 13.7% in the 3rd quarter. Invesco Ltd. now owns 9,798,204 shares of the company’s stock valued at $737,021,000 after acquiring an additional 1,181,706 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of American Electric Power by 5.1% during the third quarter. Royal Bank of Canada now owns 7,714,823 shares of the company’s stock worth $580,308,000 after purchasing an additional 374,300 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in American Electric Power by 2.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,428,035 shares of the company’s stock worth $333,077,000 after buying an additional 98,897 shares during the period. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Performance

AEP traded up $0.36 on Wednesday, hitting $90.23. 353,938 shares of the stock traded hands, compared to its average volume of 3,711,382. The company has a current ratio of 0.54, a quick ratio of 0.37 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $47.56 billion, a PE ratio of 16.64, a P/E/G ratio of 2.74 and a beta of 0.50. American Electric Power Company, Inc. has a 52 week low of $69.38 and a 52 week high of $92.10. The business has a fifty day moving average price of $84.26 and a two-hundred day moving average price of $81.04.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Tuesday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.02. American Electric Power had a return on equity of 11.23% and a net margin of 14.60%. The business had revenue of $5 billion during the quarter, compared to analysts’ expectations of $5.02 billion. During the same period in the previous year, the business posted $1.11 earnings per share. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, research analysts predict that American Electric Power Company, Inc. will post 5.58 EPS for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 3.90%. The ex-dividend date is Thursday, May 9th. American Electric Power’s dividend payout ratio (DPR) is presently 65.31%.

Analyst Upgrades and Downgrades

AEP has been the topic of several recent analyst reports. Cfra reiterated a “buy” rating and set a $92.00 price objective (up from $90.00) on shares of American Electric Power in a report on Tuesday, February 27th. Royal Bank of Canada upped their price objective on American Electric Power from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Scotiabank raised their price objective on American Electric Power from $86.00 to $90.00 and gave the stock a “sector outperform” rating in a report on Wednesday, May 1st. BMO Capital Markets lifted their price target on shares of American Electric Power from $93.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Finally, Guggenheim lowered shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $81.00 target price on the stock. in a report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $88.14.

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.