Abner Herrman & Brock LLC cut its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 51.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,678 shares of the company’s stock after selling 16,603 shares during the quarter. Abner Herrman & Brock LLC’s holdings in American Electric Power were worth $1,320,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in the company. ASB Consultores LLC increased its holdings in American Electric Power by 4.7% during the fourth quarter. ASB Consultores LLC now owns 2,561 shares of the company’s stock worth $243,000 after buying an additional 114 shares during the last quarter. Buckingham Capital Management Inc. increased its stake in shares of American Electric Power by 0.4% during the 1st quarter. Buckingham Capital Management Inc. now owns 29,229 shares of the company’s stock worth $2,660,000 after purchasing an additional 114 shares during the last quarter. Jaffetilchin Investment Partners LLC raised its holdings in shares of American Electric Power by 2.0% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 6,010 shares of the company’s stock valued at $592,000 after purchasing an additional 117 shares during the period. Thrivent Financial for Lutherans lifted its stake in American Electric Power by 0.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 28,284 shares of the company’s stock valued at $2,445,000 after purchasing an additional 119 shares during the last quarter. Finally, Marino Stram & Associates LLC grew its holdings in American Electric Power by 1.0% during the first quarter. Marino Stram & Associates LLC now owns 11,985 shares of the company’s stock worth $1,091,000 after purchasing an additional 119 shares during the period. 74.68% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several analysts have issued reports on the company. StockNews.com lowered American Electric Power from a “hold” rating to a “sell” rating in a research note on Sunday. BMO Capital Markets cut their price target on American Electric Power from $103.00 to $96.00 and set an “outperform” rating for the company in a report on Friday, June 30th. Barclays assumed coverage on shares of American Electric Power in a report on Wednesday, August 23rd. They issued an “overweight” rating and a $88.00 price objective on the stock. UBS Group cut shares of American Electric Power from a “buy” rating to a “neutral” rating and cut their target price for the stock from $105.00 to $92.00 in a research note on Tuesday, June 6th. Finally, The Goldman Sachs Group began coverage on shares of American Electric Power in a report on Wednesday, June 7th. They set a “buy” rating and a $98.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, American Electric Power has an average rating of “Hold” and a consensus price target of $94.97.
American Electric Power Price Performance
Shares of AEP stock traded up $0.75 during trading on Thursday, hitting $80.08. The company had a trading volume of 711,449 shares, compared to its average volume of 2,903,505. The stock’s 50-day moving average price is $81.83 and its 200 day moving average price is $86.01. American Electric Power Company, Inc. has a one year low of $75.47 and a one year high of $102.95. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.48 and a current ratio of 0.61. The firm has a market capitalization of $41.26 billion, a P/E ratio of 20.55, a price-to-earnings-growth ratio of 2.62 and a beta of 0.46.
American Electric Power (NASDAQ:AEP – Get Free Report) last released its earnings results on Thursday, July 27th. The company reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.01). American Electric Power had a net margin of 10.20% and a return on equity of 10.44%. The company had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter in the previous year, the company posted $1.20 earnings per share. The business’s revenue was down 5.8% compared to the same quarter last year. Equities analysts expect that American Electric Power Company, Inc. will post 5.26 EPS for the current fiscal year.
American Electric Power Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Thursday, August 10th were issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 4.15%. The ex-dividend date was Wednesday, August 9th. American Electric Power’s dividend payout ratio is currently 86.01%.
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.
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