Richardson Financial Services Inc. Sells 460 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Richardson Financial Services Inc. trimmed its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 14.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,624 shares of the company’s stock after selling 460 shares during the period. Richardson Financial Services Inc.’s holdings in American Electric Power were worth $230,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of AEP. HHM Wealth Advisors LLC increased its holdings in shares of American Electric Power by 57.2% during the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after acquiring an additional 103 shares in the last quarter. Denali Advisors LLC purchased a new stake in American Electric Power during the 1st quarter worth approximately $26,000. Rise Advisors LLC acquired a new position in American Electric Power during the 1st quarter valued at approximately $27,000. Frazier Financial Advisors LLC purchased a new position in shares of American Electric Power in the fourth quarter worth $26,000. Finally, YHB Investment Advisors Inc. acquired a new stake in shares of American Electric Power during the first quarter worth $29,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on AEP shares. Morgan Stanley upped their target price on American Electric Power from $95.00 to $102.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. LADENBURG THALM/SH SH raised American Electric Power from a “sell” rating to a “neutral” rating and increased their price objective for the company from $73.00 to $86.00 in a report on Thursday, June 6th. JPMorgan Chase & Co. lifted their target price on American Electric Power from $101.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Barclays increased their price target on shares of American Electric Power from $91.00 to $96.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Finally, Guggenheim lifted their price objective on shares of American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $95.15.

American Electric Power Stock Performance

AEP opened at $103.22 on Thursday. The firm has a fifty day moving average price of $98.37 and a 200 day moving average price of $90.76. American Electric Power Company, Inc. has a 1 year low of $69.38 and a 1 year high of $105.18. The stock has a market cap of $54.41 billion, a P/E ratio of 19.15, a P/E/G ratio of 2.95 and a beta of 0.54. 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 (NASDAQ:AEP) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the prior year, the firm posted $1.13 earnings per share. The company’s revenue was up 4.5% compared to the same quarter last year. Equities research analysts anticipate that American Electric Power Company, Inc. will post 5.59 earnings per share for the current year.

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend was Friday, August 9th. American Electric Power’s payout ratio is currently 65.31%.

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.