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

Axxcess Wealth Management LLC raised its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 2.1% in the 1st quarter, Holdings Channel reports. The fund owned 43,330 shares of the company’s stock after acquiring an additional 908 shares during the period. Axxcess Wealth Management LLC’s holdings in American Electric Power were worth $3,731,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Frazier Financial Advisors LLC purchased a new position in American Electric Power in the fourth quarter worth $26,000. Denali Advisors LLC acquired a new position in shares of American Electric Power during the 1st quarter worth $26,000. Rise Advisors LLC acquired a new position in shares of American Electric Power during the 1st quarter worth $27,000. YHB Investment Advisors Inc. purchased a new position in shares of American Electric Power in the 1st quarter valued at about $29,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in shares of American Electric Power in the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

Shares of AEP traded up $0.61 during trading hours on Friday, reaching $96.45. 2,253,978 shares of the company traded hands, compared to its average volume of 3,257,546. The stock has a market capitalization of $50.84 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 2.74 and a beta of 0.53. The stock has a fifty day simple moving average of $89.58 and a 200 day simple moving average of $85.32. American Electric Power Company, Inc. has a fifty-two week low of $69.38 and a fifty-two week high of $97.32. The company has a quick ratio of 0.37, a current ratio of 0.54 and a debt-to-equity ratio of 1.50.

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, topping the consensus estimate of $1.25 by $0.02. The company had revenue of $5 billion for the quarter, compared to analysts’ expectations of $5.02 billion. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the company earned $1.11 EPS. As a group, research analysts predict that American Electric Power Company, Inc. will post 5.59 EPS for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be issued a $0.88 dividend. The ex-dividend date is Friday, August 9th. This represents a $3.52 annualized dividend and a yield of 3.65%. American Electric Power’s dividend payout ratio (DPR) is presently 65.31%.

Analysts Set New Price Targets

AEP has been the topic of several recent analyst reports. StockNews.com upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. LADENBURG THALM/SH SH upgraded American Electric Power from a “sell” rating to a “neutral” rating and upped their price target for the stock from $73.00 to $86.00 in a report on Thursday, June 6th. Guggenheim lifted their price objective on American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a report on Monday. Morgan Stanley decreased their target price on American Electric Power from $98.00 to $94.00 and set an “overweight” rating on the stock in a research report on Monday, June 24th. Finally, Royal Bank of Canada raised their price target on American Electric Power from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, American Electric Power currently has an average rating of “Hold” and a consensus price target of $88.77.

Insider Activity at American Electric Power

In related news, EVP Antonio P. Smyth sold 4,898 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $90.00, for a total transaction of $440,820.00. Following the completion of the transaction, the executive vice president now owns 6,446 shares of the company’s stock, valued at $580,140. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Greg B. Hall sold 5,880 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $88.25, for a total value of $518,910.00. Following the transaction, the executive vice president now owns 6,385 shares in the company, valued at $563,476.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Antonio P. Smyth sold 4,898 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $90.00, for a total transaction of $440,820.00. Following the sale, the executive vice president now owns 6,446 shares of the company’s stock, valued at $580,140. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

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.