Apollon Wealth Management LLC Has $2.06 Million Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Apollon Wealth Management LLC lifted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 8.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 22,381 shares of the company’s stock after acquiring an additional 1,653 shares during the quarter. Apollon Wealth Management LLC’s holdings in American Electric Power were worth $2,064,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AEP. CWM LLC increased its position in American Electric Power by 2.7% during the 3rd quarter. CWM LLC now owns 26,400 shares of the company’s stock valued at $2,709,000 after purchasing an additional 692 shares during the period. Exchange Traded Concepts LLC increased its position in shares of American Electric Power by 4,215.2% during the third quarter. Exchange Traded Concepts LLC now owns 19,634 shares of the company’s stock worth $2,014,000 after buying an additional 19,179 shares during the period. CHICAGO TRUST Co NA increased its position in shares of American Electric Power by 39.1% during the third quarter. CHICAGO TRUST Co NA now owns 3,963 shares of the company’s stock worth $407,000 after buying an additional 1,114 shares during the period. McGlone Suttner Wealth Management Inc. raised its stake in American Electric Power by 107.7% during the third quarter. McGlone Suttner Wealth Management Inc. now owns 5,401 shares of the company’s stock worth $554,000 after buying an additional 2,801 shares during the last quarter. Finally, Sapient Capital LLC acquired a new position in American Electric Power in the third quarter valued at $203,000. Institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

AEP has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $102.00 price target (down from $109.00) on shares of American Electric Power in a report on Thursday, December 12th. Evercore ISI decreased their target price on American Electric Power from $97.00 to $96.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. Guggenheim raised American Electric Power from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Scotiabank downgraded shares of American Electric Power from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $105.00 to $102.00 in a research report on Thursday, December 12th. Finally, UBS Group boosted their target price on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $98.00.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $100.35 on Monday. The stock has a market cap of $53.40 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 2.84 and a beta of 0.58. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.57. American Electric Power Company, Inc. has a fifty-two week low of $75.22 and a fifty-two week high of $105.18. The firm’s 50-day simple moving average is $95.11 and its 200 day simple moving average is $97.77.

American Electric Power Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a dividend of $0.93 per share. The ex-dividend date is Monday, February 10th. This represents a $3.72 annualized dividend and a dividend yield of 3.71%. American Electric Power’s payout ratio is 74.55%.

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.