Brown Brothers Harriman & Co. Increases Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Brown Brothers Harriman & Co. raised its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 113.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,641 shares of the company’s stock after acquiring an additional 6,193 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in American Electric Power were worth $1,021,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in American Electric Power by 0.8% in the first quarter. Vanguard Group Inc. now owns 49,630,436 shares of the company’s stock worth $4,273,181,000 after acquiring an additional 405,114 shares during the period. Lazard Asset Management LLC lifted its position in shares of American Electric Power by 9.9% in the 1st quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company’s stock worth $739,303,000 after purchasing an additional 776,965 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of American Electric Power by 1.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 3,378,543 shares of the company’s stock valued at $296,433,000 after purchasing an additional 35,769 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of American Electric Power by 542.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock valued at $193,541,000 after buying an additional 1,927,234 shares during the period. Finally, Nomura Holdings Inc. bought a new position in American Electric Power in the fourth quarter worth about $175,667,000. 75.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. upped 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. LADENBURG THALM/SH SH upgraded American Electric Power from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $73.00 to $86.00 in a report on Thursday, June 6th. Bank of America boosted their target price on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. BMO Capital Markets lifted their price target on shares of American Electric Power from $105.00 to $109.00 and gave the company an “outperform” rating in a research report on Monday, September 9th. Finally, Scotiabank upped their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $95.15.

American Electric Power Stock Down 0.7 %

American Electric Power stock opened at $104.21 on Wednesday. American Electric Power Company, Inc. has a 12 month low of $69.38 and a 12 month high of $105.18. The stock has a fifty day simple moving average of $98.07 and a two-hundred day simple moving average of $90.67. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53. The firm has a market cap of $54.93 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 2.95 and a beta of 0.54.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.23 by $0.02. The company had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.74 billion. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. American Electric Power’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the company earned $1.13 EPS. Equities analysts predict that American Electric Power Company, Inc. will post 5.59 EPS for the current fiscal year.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 3.38%. The ex-dividend date was Friday, August 9th. American Electric Power’s dividend payout ratio is currently 65.31%.

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.