Axxcess Wealth Management LLC Reduces Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Axxcess Wealth Management LLC trimmed its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 14.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,932 shares of the company’s stock after selling 6,398 shares during the period. Axxcess Wealth Management LLC’s holdings in American Electric Power were worth $3,240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Edgestream Partners L.P. acquired a new position in American Electric Power in the second quarter valued at approximately $1,355,000. Excalibur Management Corp lifted its position in shares of American Electric Power by 15.5% during the 2nd quarter. Excalibur Management Corp now owns 3,782 shares of the company’s stock worth $332,000 after buying an additional 507 shares during the last quarter. Wulff Hansen & CO. grew its position in shares of American Electric Power by 8,674.0% in the 2nd quarter. Wulff Hansen & CO. now owns 300,510 shares of the company’s stock valued at $26,367,000 after buying an additional 297,085 shares during the last quarter. Mesirow Financial Investment Management Inc. raised its stake in American Electric Power by 1.6% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 38,590 shares of the company’s stock worth $3,389,000 after acquiring an additional 620 shares in the last quarter. Finally, Sierra Summit Advisors LLC lifted its position in American Electric Power by 18.1% in the second quarter. Sierra Summit Advisors LLC now owns 4,918 shares of the company’s stock valued at $432,000 after acquiring an additional 755 shares during the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on AEP shares. JPMorgan Chase & Co. raised their price objective on American Electric Power from $101.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Barclays boosted their price objective on American Electric Power from $91.00 to $96.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Guggenheim lifted their target price on shares of American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Scotiabank upped their price target on shares of American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Finally, LADENBURG THALM/SH SH raised shares of American Electric Power from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $73.00 to $86.00 in a research report on Thursday, June 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $95.15.

American Electric Power Stock Down 0.7 %

Shares of NASDAQ:AEP opened at $104.21 on Wednesday. American Electric Power Company, Inc. has a fifty-two week low of $69.38 and a fifty-two week high of $105.18. 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 firm’s 50-day simple moving average is $98.07 and its 200-day simple moving average is $90.67. The company has a market cap of $54.93 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 2.95 and a beta of 0.54.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.02. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.74 billion. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.13 EPS. As a group, equities research analysts predict that American Electric Power Company, Inc. will post 5.59 earnings per share for the current year.

American Electric Power Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 3.38%. The ex-dividend date 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.