Mutual of America Capital Management LLC Decreases Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Mutual of America Capital Management LLC reduced its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 3.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 66,474 shares of the company’s stock after selling 2,473 shares during the period. Mutual of America Capital Management LLC’s holdings in American Electric Power were worth $5,832,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Hodges Capital Management Inc. purchased a new stake in shares of American Electric Power during the first quarter worth approximately $1,615,000. Quantbot Technologies LP purchased a new stake in shares of American Electric Power during the first quarter worth $1,731,000. Nordea Investment Management AB lifted its stake in shares of American Electric Power by 381.9% in the first quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock worth $171,127,000 after buying an additional 1,581,734 shares in the last quarter. Mizuho Markets Americas LLC boosted its position in American Electric Power by 646.9% during the first quarter. Mizuho Markets Americas LLC now owns 261,440 shares of the company’s stock worth $22,510,000 after acquiring an additional 226,435 shares during the last quarter. Finally, ProShare Advisors LLC grew its stake in American Electric Power by 21.7% during the 1st quarter. ProShare Advisors LLC now owns 582,692 shares of the company’s stock valued at $50,170,000 after acquiring an additional 103,771 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Stock Performance

Shares of American Electric Power stock opened at $102.15 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.48. The stock has a market capitalization of $53.85 billion, a price-to-earnings ratio of 18.95, a price-to-earnings-growth ratio of 2.95 and a beta of 0.54. The business has a 50-day moving average of $98.82 and a 200 day moving average of $90.96. American Electric Power Company, Inc. has a 12 month low of $69.38 and a 12 month high of $105.18.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.02. The firm had revenue of $4.60 billion during 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 business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.13 earnings per share. As a group, sell-side analysts forecast that American Electric Power Company, Inc. will post 5.59 earnings per share for the current 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. The ex-dividend date was Friday, August 9th. This represents a $3.52 dividend on an annualized basis and a yield of 3.45%. American Electric Power’s dividend payout ratio (DPR) is presently 65.31%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. BMO Capital Markets boosted their target price on American Electric Power from $105.00 to $109.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. Barclays boosted their price objective on American Electric Power from $91.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Jefferies Financial Group began coverage on American Electric Power in a report on Friday. They set a “hold” rating and a $107.00 price target on the stock. Guggenheim upped their price objective on shares of American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Finally, Bank of America raised their price objective on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $96.00.

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.