Romano Brothers AND Company Raises Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Romano Brothers AND Company increased its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 18.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,628 shares of the company’s stock after purchasing an additional 7,943 shares during the quarter. Romano Brothers AND Company’s holdings in American Electric Power were worth $4,347,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AEP. AXS Investments LLC bought a new position in American Electric Power in the fourth quarter worth approximately $27,000. Dark Forest Capital Management LP raised its position in American Electric Power by 91.9% in the fourth quarter. Dark Forest Capital Management LP now owns 284 shares of the company’s stock worth $27,000 after acquiring an additional 136 shares during the period. Horizon Bancorp Inc. IN raised its position in American Electric Power by 66.7% in the first quarter. Horizon Bancorp Inc. IN now owns 300 shares of the company’s stock worth $27,000 after acquiring an additional 120 shares during the period. Penserra Capital Management LLC bought a new position in American Electric Power in the first quarter worth approximately $27,000. Finally, True Wealth Design LLC bought a new position in American Electric Power in the fourth quarter worth approximately $28,000. Hedge funds and other institutional investors own 74.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AEP shares. StockNews.com upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a research report on Saturday. The Goldman Sachs Group began coverage on shares of American Electric Power in a research report on Wednesday, June 7th. They issued a “buy” rating and a $98.00 price target on the stock. BMO Capital Markets decreased their price objective on shares of American Electric Power from $103.00 to $96.00 and set an “outperform” rating on the stock in a research report on Friday, June 30th. Morgan Stanley decreased their price objective on shares of American Electric Power from $101.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 23rd. Finally, Royal Bank of Canada decreased their price objective on shares of American Electric Power from $103.00 to $89.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 6th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $94.83.

American Electric Power Price Performance

AEP traded up $0.08 during trading on Tuesday, hitting $80.31. 572,813 shares of the company traded hands, compared to its average volume of 2,905,765. American Electric Power Company, Inc. has a 1 year low of $75.47 and a 1 year high of $101.12. The company has a market cap of $41.37 billion, a PE ratio of 20.78, a P/E/G ratio of 2.71 and a beta of 0.46. The stock’s 50-day simple moving average is $81.57 and its two-hundred day simple moving average is $85.71. The company has a current ratio of 0.61, a quick ratio of 0.48 and a debt-to-equity ratio of 1.52.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data on Thursday, July 27th. The company reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.01). American Electric Power had a return on equity of 10.44% and a net margin of 10.20%. 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 earned $1.20 earnings per share. The business’s quarterly revenue was down 5.8% on a year-over-year basis. As a group, sell-side analysts anticipate that American Electric Power Company, Inc. will post 5.26 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Thursday, August 10th were paid a $0.83 dividend. The ex-dividend date was Wednesday, August 9th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.13%. American Electric Power’s payout ratio is currently 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.