American Electric Power Company, Inc. (NASDAQ:AEP) Shares Bought by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC grew its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 8.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 329,209 shares of the company’s stock after buying an additional 26,815 shares during the quarter. Commonwealth Equity Services LLC owned about 0.06% of American Electric Power worth $28,885,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Frazier Financial Advisors LLC purchased a new stake in American Electric Power during the fourth quarter worth about $26,000. Denali Advisors LLC acquired a new stake in shares of American Electric Power during the 1st quarter valued at approximately $26,000. Rise Advisors LLC purchased a new stake in shares of American Electric Power during the 1st quarter worth approximately $27,000. YHB Investment Advisors Inc. acquired a new stake in shares of American Electric Power in the 1st quarter worth approximately $29,000. Finally, LRI Investments LLC increased its stake in American Electric Power by 935.9% in the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock valued at $35,000 after purchasing an additional 365 shares in the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Trading Up 0.5 %

AEP opened at $100.28 on Monday. The stock has a market capitalization of $53.36 billion, a PE ratio of 18.60, a P/E/G ratio of 2.87 and a beta of 0.53. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.48. American Electric Power Company, Inc. has a 12-month low of $69.38 and a 12-month high of $104.41. The firm’s fifty day moving average price is $94.38 and its 200 day moving average price is $88.95.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.23 by $0.02. The business had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.74 billion. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.13 earnings per share. As a group, research analysts expect that American Electric Power Company, Inc. will post 5.59 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be issued a $0.88 dividend. The ex-dividend date is Friday, August 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.51%. American Electric Power’s dividend payout ratio (DPR) is 65.31%.

Insider Activity

In other American Electric Power news, EVP Antonio P. Smyth sold 4,898 shares of American Electric Power stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $90.00, for a total value of $440,820.00. Following the completion of the transaction, the executive vice president now owns 6,446 shares of the company’s stock, valued at $580,140. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. StockNews.com upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Bank of America upped their price objective on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research note on Thursday. BMO Capital Markets raised their price target on American Electric Power from $100.00 to $104.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. boosted their target price on shares of American Electric Power from $101.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Finally, Scotiabank lifted their price objective on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, American Electric Power currently has an average rating of “Hold” and a consensus price target of $94.77.

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.