Meyer Handelman Co. Sells 200 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Meyer Handelman Co. lowered its stake in American Electric Power Company, Inc. (NASDAQ:AEPGet Rating) by 0.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 71,704 shares of the company’s stock after selling 200 shares during the quarter. Meyer Handelman Co.’s holdings in American Electric Power were worth $6,879,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Aldebaran Financial Inc. lifted its stake in American Electric Power by 4.2% during the first quarter. Aldebaran Financial Inc. now owns 2,500 shares of the company’s stock worth $249,000 after purchasing an additional 100 shares in the last quarter. Great Valley Advisor Group Inc. lifted its stake in American Electric Power by 2.5% during the first quarter. Great Valley Advisor Group Inc. now owns 4,157 shares of the company’s stock worth $406,000 after purchasing an additional 100 shares in the last quarter. Bridgewater Advisors Inc. lifted its stake in American Electric Power by 2.2% during the first quarter. Bridgewater Advisors Inc. now owns 4,664 shares of the company’s stock worth $465,000 after purchasing an additional 101 shares in the last quarter. Bogart Wealth LLC lifted its stake in American Electric Power by 6.3% during the first quarter. Bogart Wealth LLC now owns 1,723 shares of the company’s stock worth $172,000 after purchasing an additional 102 shares in the last quarter. Finally, Gryphon Financial Partners LLC raised its stake in shares of American Electric Power by 1.8% in the first quarter. Gryphon Financial Partners LLC now owns 5,875 shares of the company’s stock valued at $586,000 after acquiring an additional 105 shares in the last quarter. Institutional investors own 74.70% of the company’s stock.

American Electric Power Stock Down 2.0 %

American Electric Power stock traded down $1.97 during midday trading on Friday, reaching $96.91. The company’s stock had a trading volume of 39,467 shares, compared to its average volume of 2,429,744. American Electric Power Company, Inc. has a fifty-two week low of $80.22 and a fifty-two week high of $105.60. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. The company has a market cap of $49.79 billion, a P/E ratio of 19.43, a P/E/G ratio of 3.23 and a beta of 0.34. The business has a 50-day simple moving average of $100.41 and a 200-day simple moving average of $98.98.

American Electric Power (NASDAQ:AEPGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.01. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $3.98 billion. American Electric Power had a return on equity of 10.46% and a net margin of 14.39%. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.18 earnings per share. On average, research analysts expect that American Electric Power Company, Inc. will post 4.99 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Wednesday, August 10th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend was Tuesday, August 9th. American Electric Power’s payout ratio is 61.30%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Citigroup increased their price objective on American Electric Power from $94.00 to $99.00 in a research note on Thursday, July 28th. Evercore ISI increased their price objective on American Electric Power to $107.00 in a research note on Monday, August 15th. Morgan Stanley reduced their price objective on American Electric Power from $118.00 to $116.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Credit Suisse Group increased their price objective on American Electric Power from $103.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday, July 28th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.43.

American Electric Power Company Profile

(Get Rating)

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.

Read More

Want to see what other hedge funds are holding AEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Electric Power Company, Inc. (NASDAQ:AEPGet Rating).

Institutional Ownership by Quarter for American Electric Power (NASDAQ:AEP)

Receive News & Ratings for American Electric Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Electric Power and related companies with MarketBeat.com's FREE daily email newsletter.