Prosperity Consulting Group LLC Purchases 187 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Prosperity Consulting Group LLC grew its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 6.1% during the 2nd quarter, according to its most recent 13F filing 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 quarter. Prosperity Consulting Group LLC’s holdings in American Electric Power were worth $284,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. HHM Wealth Advisors LLC lifted its stake in American Electric Power by 57.2% in the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after purchasing an additional 103 shares during the last quarter. Frazier Financial Advisors LLC bought a new stake in shares of American Electric Power in the 4th quarter valued at about $26,000. Denali Advisors LLC bought a new stake in shares of American Electric Power in the 1st quarter valued at about $26,000. Rise Advisors LLC purchased a new stake in American Electric Power during the 1st quarter valued at about $27,000. Finally, YHB Investment Advisors Inc. bought a new position in American Electric Power during the 1st quarter worth approximately $29,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Trading Up 1.1 %

NASDAQ AEP opened at $104.17 on Monday. The firm 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 stock’s 50 day moving average is $97.39 and its 200 day moving average is $90.40. American Electric Power Company, Inc. has a twelve month low of $69.38 and a twelve month high of $104.41. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates 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 company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.13 EPS. Research analysts forecast 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 announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Friday, August 9th. American Electric Power’s dividend payout ratio is 65.31%.

Analyst Upgrades and Downgrades

AEP has been the subject of a number of analyst reports. BMO Capital Markets increased their price objective on American Electric Power from $105.00 to $109.00 and gave the company an “outperform” rating in a research note on Monday, September 9th. Bank of America raised their price target on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Morgan Stanley boosted their price objective on shares of American Electric Power from $95.00 to $102.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Guggenheim increased their target price on shares of American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Finally, Barclays boosted their price target on American Electric Power from $91.00 to $96.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $95.15.

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.