Richard P Slaughter Associates Inc raised its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 6.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,978 shares of the company’s stock after acquiring an additional 964 shares during the quarter. Richard P Slaughter Associates Inc’s holdings in American Electric Power were worth $1,261,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Penserra Capital Management LLC acquired a new position in shares of American Electric Power during the first quarter valued at approximately $27,000. AXS Investments LLC acquired a new position in shares of American Electric Power during the fourth quarter valued at approximately $27,000. Dark Forest Capital Management LP raised its holdings in shares of American Electric Power by 91.9% during the fourth quarter. Dark Forest Capital Management LP now owns 284 shares of the company’s stock valued at $27,000 after acquiring an additional 136 shares during the last quarter. True Wealth Design LLC acquired a new position in shares of American Electric Power during the fourth quarter valued at approximately $28,000. Finally, Horizon Bancorp Inc. IN raised its holdings in shares of American Electric Power by 66.7% during the first quarter. Horizon Bancorp Inc. IN now owns 300 shares of the company’s stock valued at $27,000 after acquiring an additional 120 shares during the last quarter. Institutional investors and hedge funds own 74.68% of the company’s stock.
Analyst Ratings Changes
AEP has been the subject of a number of research analyst reports. Mizuho reduced their target price on American Electric Power from $94.00 to $93.00 in a report on Thursday, July 6th. Morgan Stanley cut their price target on American Electric Power from $101.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, August 23rd. Guggenheim cut their price target on American Electric Power from $105.00 to $96.00 in a report on Friday, July 7th. UBS Group cut American Electric Power from a “buy” rating to a “neutral” rating and cut their price target for the company from $105.00 to $92.00 in a report on Tuesday, June 6th. Finally, Barclays initiated coverage on American Electric Power in a report on Wednesday, August 23rd. They issued an “overweight” rating and a $88.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, American Electric Power presently has an average rating of “Hold” and a consensus target price of $94.97.
American Electric Power Trading Down 0.1 %
Shares of NASDAQ AEP opened at $80.50 on Friday. American Electric Power Company, Inc. has a twelve month low of $75.47 and a twelve month high of $101.15. The company has a current ratio of 0.61, a quick ratio of 0.48 and a debt-to-equity ratio of 1.52. The stock has a fifty day simple moving average of $81.74 and a 200-day simple moving average of $85.95. The stock has a market capitalization of $41.47 billion, a PE ratio of 20.88, a PEG ratio of 2.69 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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.01). The company had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $4.70 billion. American Electric Power had a net margin of 10.20% and a return on equity of 10.44%. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter last year, the business posted $1.20 earnings per share. On average, equities analysts forecast that American Electric Power Company, Inc. will post 5.26 earnings per share for the current year.
American Electric Power Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Thursday, August 10th were issued a $0.83 dividend. The ex-dividend date was Wednesday, August 9th. This represents a $3.32 dividend on an annualized basis and a yield of 4.12%. American Electric Power’s dividend payout ratio (DPR) is presently 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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