NewEdge Advisors LLC Buys 1,317 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

NewEdge Advisors LLC grew its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 5.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 25,561 shares of the company’s stock after acquiring an additional 1,317 shares during the period. NewEdge Advisors LLC’s holdings in American Electric Power were worth $2,243,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. HHM Wealth Advisors LLC boosted its position in American Electric Power by 57.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after buying an additional 103 shares during the period. Denali Advisors LLC acquired a new position in shares of American Electric Power during the first quarter worth $26,000. Rise Advisors LLC acquired a new stake in American Electric Power in the first quarter valued at $27,000. YHB Investment Advisors Inc. acquired a new stake in American Electric Power in the first quarter valued at $29,000. Finally, LRI Investments LLC raised its position in American Electric Power by 935.9% during the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after purchasing an additional 365 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Stock Down 1.1 %

AEP stock opened at $100.28 on Friday. The stock’s 50 day simple moving average is $100.29 and its 200 day simple moving average is $92.11. The company has a market cap of $52.86 billion, a P/E ratio of 18.60, a price-to-earnings-growth ratio of 2.93 and a beta of 0.54. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65. American Electric Power Company, Inc. has a fifty-two week low of $69.38 and a fifty-two week high of $105.18.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, beating 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 firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the previous year, the company posted $1.13 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. On average, research analysts expect that American Electric Power Company, Inc. will post 5.6 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend was Friday, August 9th. American Electric Power’s dividend payout ratio is currently 65.31%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Barclays lifted their target price on American Electric Power from $91.00 to $96.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Jefferies Financial Group started coverage on shares of American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 target price for the company. Bank of America boosted their price target 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. 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 research note on Monday, July 22nd. Finally, Morgan Stanley boosted their target price on shares of American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, American Electric Power has an average rating of “Hold” and an average price target of $96.79.

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.