Beese Fulmer Investment Management Inc. grew its holdings in American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 9.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,465 shares of the company’s stock after buying an additional 3,764 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in American Electric Power were worth $3,744,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also modified their holdings of the company. AXS Investments LLC acquired a new stake in shares of American Electric Power in the fourth quarter valued at about $27,000. Dark Forest Capital Management LP increased its position in American Electric Power by 91.9% during the fourth quarter. Dark Forest Capital Management LP now owns 284 shares of the company’s stock worth $27,000 after purchasing an additional 136 shares during the last quarter. Horizon Bancorp Inc. IN increased its position in American Electric Power by 66.7% during the first quarter. Horizon Bancorp Inc. IN now owns 300 shares of the company’s stock worth $27,000 after purchasing an additional 120 shares during the last quarter. Penserra Capital Management LLC acquired a new stake in American Electric Power during the first quarter worth about $27,000. Finally, True Wealth Design LLC acquired a new stake in American Electric Power during the fourth quarter worth about $28,000. 74.68% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on AEP shares. Morgan Stanley cut their price objective on shares of American Electric Power from $101.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, August 23rd. LADENBURG THALM/SH SH upgraded shares of American Electric Power from a “sell” rating to a “neutral” rating in a research report on Wednesday. Mizuho cut their price objective on shares of American Electric Power from $94.00 to $93.00 in a research report on Thursday, July 6th. StockNews.com upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, BMO Capital Markets lowered their target price on shares of American Electric Power from $103.00 to $96.00 and set an “outperform” rating for the company in a research note on Friday, June 30th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $94.97.
American Electric Power Stock Down 0.7 %
Shares of NASDAQ AEP traded down $0.56 during midday trading on Friday, hitting $80.04. The company’s stock had a trading volume of 4,598,042 shares, compared to its average volume of 2,926,140. The business’s fifty day simple moving average is $81.65 and its two-hundred day simple moving average is $85.83. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.61 and a quick ratio of 0.48. American Electric Power Company, Inc. has a 1 year low of $75.47 and a 1 year high of $101.15. The firm has a market capitalization of $41.23 billion, a price-to-earnings ratio of 20.74, a price-to-earnings-growth ratio of 2.69 and a beta of 0.46.
American Electric Power (NASDAQ:AEP – Get Free Report) last posted its quarterly earnings data on Thursday, July 27th. The company reported $1.13 EPS for the quarter, missing the consensus estimate 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 business had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same period in the previous year, the business posted $1.20 EPS. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. On average, equities analysts predict that American Electric Power Company, Inc. will post 5.26 EPS for the current year.
American Electric Power Announces Dividend
The company 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 of this dividend was Wednesday, August 9th. This represents a $3.32 annualized dividend and a yield of 4.15%. American Electric Power’s dividend payout ratio (DPR) is 86.01%.
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.
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