King Luther Capital Management Corp Raises Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

King Luther Capital Management Corp grew its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 10.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 6,255 shares of the company’s stock after buying an additional 608 shares during the quarter. King Luther Capital Management Corp’s holdings in American Electric Power were worth $549,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. HHM Wealth Advisors LLC raised its holdings in American Electric Power by 57.2% in 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. E Fund Management Co. Ltd. raised its holdings in shares of American Electric Power by 2.0% in the 2nd quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock valued at $464,000 after purchasing an additional 105 shares in the last quarter. Bank of Stockton lifted its position in shares of American Electric Power by 2.2% during the 2nd quarter. Bank of Stockton now owns 5,062 shares of the company’s stock worth $444,000 after purchasing an additional 111 shares during the last quarter. Richardson Financial Services Inc. grew its stake in shares of American Electric Power by 3.9% during the first quarter. Richardson Financial Services Inc. now owns 3,084 shares of the company’s stock worth $266,000 after purchasing an additional 115 shares in the last quarter. Finally, Addison Advisors LLC increased its holdings in American Electric Power by 14.8% in the second quarter. Addison Advisors LLC now owns 902 shares of the company’s stock valued at $79,000 after buying an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AEP shares. Barclays upped their price objective on American Electric Power from $91.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Bank of America increased their price target 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, August 29th. Morgan Stanley boosted their price objective on shares of American Electric Power from $95.00 to $102.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. LADENBURG THALM/SH SH raised shares of American Electric Power from a “sell” rating to a “neutral” rating and increased their target price for the company from $73.00 to $86.00 in a research report on Thursday, June 6th. Finally, Guggenheim lifted their price target on shares of American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, American Electric Power presently has an average rating of “Hold” and an average target price of $96.00.

American Electric Power Stock Up 0.4 %

AEP opened at $102.15 on Monday. The business has a 50 day moving average price of $98.82 and a two-hundred day moving average price of $91.01. American Electric Power Company, Inc. has a 52 week low of $69.38 and a 52 week high of $105.18. The company has a market cap of $53.85 billion, a PE ratio of 18.95, a P/E/G ratio of 2.95 and a beta of 0.54. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53.

American Electric Power (NASDAQ:AEP) last released 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. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The business had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the prior year, the business earned $1.13 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, research analysts anticipate that American Electric Power Company, Inc. will post 5.59 EPS for the current year.

American Electric Power Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 3.45%. The ex-dividend date was Friday, August 9th. American Electric Power’s payout ratio is 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.