MCF Advisors LLC raised its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 263.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,609 shares of the company’s stock after purchasing an additional 1,166 shares during the quarter. MCF Advisors LLC’s holdings in American Electric Power were worth $136,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. NEXT Financial Group Inc boosted its stake in shares of American Electric Power by 0.9% during the 2nd quarter. NEXT Financial Group Inc now owns 12,705 shares of the company’s stock worth $1,074,000 after acquiring an additional 116 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of American Electric Power by 13.8% in the first quarter. Benjamin Edwards Inc. now owns 1,003 shares of the company’s stock valued at $85,000 after purchasing an additional 122 shares in the last quarter. Coastline Trust Co lifted its holdings in shares of American Electric Power by 4.9% in the first quarter. Coastline Trust Co now owns 2,770 shares of the company’s stock valued at $235,000 after purchasing an additional 130 shares in the last quarter. Tsfg LLC lifted its holdings in shares of American Electric Power by 43.5% in the second quarter. Tsfg LLC now owns 465 shares of the company’s stock valued at $39,000 after purchasing an additional 141 shares in the last quarter. Finally, Buckingham Capital Management Inc. lifted its holdings in shares of American Electric Power by 0.4% in the second quarter. Buckingham Capital Management Inc. now owns 34,451 shares of the company’s stock valued at $2,914,000 after purchasing an additional 149 shares in the last quarter. 73.60% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently issued reports on AEP. Bank of America upgraded American Electric Power from a “neutral” rating to a “buy” rating and set a $86.88 target price for the company in a report on Monday, July 26th. Morgan Stanley increased their target price on American Electric Power from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, August 19th. Wells Fargo & Company reduced their target price on American Electric Power from $96.00 to $93.00 and set an “equal weight” rating for the company in a report on Friday, July 23rd. Finally, Barclays increased their target price on American Electric Power from $95.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, May 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, American Electric Power currently has a consensus rating of “Buy” and a consensus target price of $95.21.
NASDAQ AEP opened at $87.83 on Wednesday. American Electric Power Company, Inc. has a fifty-two week low of $74.80 and a fifty-two week high of $94.21. The stock’s 50-day moving average is $88.49 and its two-hundred day moving average is $86.22. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.44 and a quick ratio of 0.33. The firm has a market cap of $43.94 billion, a P/E ratio of 18.65, a price-to-earnings-growth ratio of 3.30 and a beta of 0.27.
American Electric Power (NASDAQ:AEP) last posted its earnings results on Wednesday, July 21st. The company reported $1.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.04. American Electric Power had a return on equity of 11.02% and a net margin of 14.78%. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same period last year, the company earned $1.08 earnings per share. The business’s revenue was up 8.6% compared to the same quarter last year. On average, equities analysts expect that American Electric Power Company, Inc. will post 4.7 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 10th. Shareholders of record on Tuesday, August 10th were issued a dividend of $0.74 per share. The ex-dividend date was Monday, August 9th. This represents a $2.96 annualized dividend and a yield of 3.37%. American Electric Power’s dividend payout ratio (DPR) is currently 66.67%.
About American Electric Power
American Electric Power Co, Inc engages in the business of generation, transmission and distribution of electricity. It operates through the following segments: Vertically Integrated Utilities, Transmission & Distribution Utilities, AEP Transmission Holdco and Generation & Marketing. The Vertically Integrated Utilities segment engages in the generation, transmission and distribution of electricity for sale to retail and wholesale customers through assets owned and operated by its subsidiaries.
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