Prosperity Consulting Group LLC Raises Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Prosperity Consulting Group LLC boosted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 6.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,241 shares of the company’s stock after purchasing an additional 187 shares during the period. Prosperity Consulting Group LLC’s holdings in American Electric Power were worth $284,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. HHM Wealth Advisors LLC boosted its holdings in shares of 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 during the last quarter. Frazier Financial Advisors LLC bought a new stake in American Electric Power in the fourth quarter worth about $26,000. Denali Advisors LLC purchased a new position in American Electric Power in the first quarter valued at about $26,000. Rise Advisors LLC bought a new position in shares of American Electric Power during the 1st quarter valued at approximately $27,000. Finally, YHB Investment Advisors Inc. purchased a new stake in shares of American Electric Power during the 1st quarter worth approximately $29,000. Institutional investors own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Bank of America upped their price objective on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. upped their price target on American Electric Power from $101.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Morgan Stanley lifted their price objective on American Electric Power from $95.00 to $102.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Scotiabank upped their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Finally, Barclays lifted their target price on shares of American Electric Power from $91.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $95.15.

American Electric Power Stock Performance

NASDAQ AEP opened at $104.17 on Monday. American Electric Power Company, Inc. has a 1 year low of $69.38 and a 1 year high of $104.41. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.48. The stock has a market capitalization of $54.91 billion, a PE ratio of 19.33, a P/E/G ratio of 2.95 and a beta of 0.54. The company’s 50 day simple moving average is $97.39 and its two-hundred day simple moving average is $90.40.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.02. The firm had revenue of $4.60 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.13 earnings per share. Analysts predict that American Electric Power Company, Inc. will post 5.59 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend was Friday, August 9th. American Electric Power’s payout ratio is 65.31%.

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.