American Electric Power Company, Inc. (NASDAQ:AEP) Shares Acquired by Providence Capital Advisors LLC

Providence Capital Advisors LLC increased its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,532 shares of the company’s stock after buying an additional 411 shares during the period. Providence Capital Advisors LLC’s holdings in American Electric Power were worth $2,234,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Wellington Management Group LLP boosted its position in shares of American Electric Power by 5.1% in the 1st quarter. Wellington Management Group LLP now owns 24,171,020 shares of the company’s stock worth $2,199,321,000 after buying an additional 1,176,207 shares in the last quarter. Morgan Stanley boosted its position in shares of American Electric Power by 23.7% in the 4th quarter. Morgan Stanley now owns 13,357,327 shares of the company’s stock worth $1,268,278,000 after buying an additional 2,560,192 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of American Electric Power by 47.0% in the 1st quarter. Federated Hermes Inc. now owns 4,619,706 shares of the company’s stock worth $420,347,000 after buying an additional 1,476,099 shares in the last quarter. Royal Bank of Canada boosted its position in shares of American Electric Power by 8.3% in the 1st quarter. Royal Bank of Canada now owns 4,251,573 shares of the company’s stock worth $424,180,000 after buying an additional 327,199 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its position in shares of American Electric Power by 64.0% in the 2nd quarter. Macquarie Group Ltd. now owns 2,859,696 shares of the company’s stock worth $204,634,000 after buying an additional 1,116,136 shares in the last quarter. 74.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Bank of America reduced their target price on shares of American Electric Power from $91.00 to $77.00 in a report on Thursday, October 12th. Royal Bank of Canada reduced their target price on shares of American Electric Power from $103.00 to $89.00 and set an “outperform” rating on the stock in a report on Wednesday, September 6th. JPMorgan Chase & Co. reduced their target price on shares of American Electric Power from $96.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, October 12th. StockNews.com upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a report on Sunday, November 12th. Finally, Morgan Stanley reduced their target price on shares of American Electric Power from $97.00 to $93.00 and set an “overweight” rating on the stock in a report on Wednesday, October 25th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $91.37.

American Electric Power Trading Up 0.0 %

AEP traded up $0.01 on Friday, reaching $77.39. 3,508,003 shares of the company’s stock were exchanged, compared to its average volume of 3,076,288. The company’s 50 day moving average is $76.38 and its 200-day moving average is $80.90. The company has a market cap of $40.70 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 3.00 and a beta of 0.49. American Electric Power Company, Inc. has a twelve month low of $69.38 and a twelve month high of $100.32. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.44 and a current ratio of 0.60.

American Electric Power (NASDAQ:AEP) last posted its earnings results on Thursday, November 2nd. The company reported $1.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.85 by ($0.08). The business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.37 billion. American Electric Power had a return on equity of 10.73% and a net margin of 11.72%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the company posted $1.62 EPS. Equities analysts predict that American Electric Power Company, Inc. will post 5.27 earnings per share for the current year.

American Electric Power Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 10th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date of this dividend is Thursday, November 9th. This is an increase from American Electric Power’s previous quarterly dividend of $0.83. American Electric Power’s dividend payout ratio is 80.73%.

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.