Strategic Wealth Partners Ltd. lessened its holdings in American Electric Power Company Inc (NYSE:AEP) by 36.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,744 shares of the utilities provider’s stock after selling 993 shares during the period. Strategic Wealth Partners Ltd.’s holdings in American Electric Power were worth $153,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in AEP. IMA Wealth Inc. purchased a new stake in American Electric Power during the second quarter valued at approximately $30,000. JJJ Advisors Inc. purchased a new stake in American Electric Power during the second quarter valued at approximately $31,000. Glassman Wealth Services lifted its position in American Electric Power by 138.0% during the first quarter. Glassman Wealth Services now owns 388 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 225 shares during the last quarter. Weaver Consulting Group purchased a new stake in American Electric Power during the first quarter valued at approximately $32,000. Finally, Osborn Williams & Donohoe LLC purchased a new stake in American Electric Power during the first quarter valued at approximately $38,000. 74.54% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently commented on AEP. KeyCorp began coverage on shares of American Electric Power in a research report on Tuesday, June 4th. They set a “sector weight” rating for the company. UBS Group increased their target price on shares of American Electric Power from $94.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, July 12th. SunTrust Banks increased their target price on shares of American Electric Power from $98.00 to $99.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Zacks Investment Research raised shares of American Electric Power from a “sell” rating to a “hold” rating and set a $96.00 target price for the company in a research report on Thursday, July 11th. Finally, Bank of America reissued a “buy” rating and set a $98.00 target price (up previously from $93.00) on shares of American Electric Power in a research report on Tuesday, July 9th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $88.33.
Shares of NYSE AEP traded down $1.39 during midday trading on Friday, reaching $89.58. The company had a trading volume of 1,579,957 shares, compared to its average volume of 2,266,558. The business’s 50-day simple moving average is $89.88 and its 200 day simple moving average is $86.00. The stock has a market cap of $44.92 billion, a P/E ratio of 22.68, a P/E/G ratio of 3.89 and a beta of 0.13. American Electric Power Company Inc has a 1 year low of $68.92 and a 1 year high of $91.99. The company has a current ratio of 0.49, a quick ratio of 0.36 and a debt-to-equity ratio of 1.29.
American Electric Power (NYSE:AEP) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.02. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $4.13 billion. American Electric Power had a net margin of 12.53% and a return on equity of 10.69%. The business’s quarterly revenue was down 10.0% on a year-over-year basis. During the same quarter last year, the company posted $1.01 earnings per share. Analysts predict that American Electric Power Company Inc will post 4.13 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be issued a $0.67 dividend. The ex-dividend date is Thursday, August 8th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.99%. American Electric Power’s dividend payout ratio is currently 67.85%.
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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.
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