American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC lessened its position in shares of American Electric Power Company, Inc. (NASDAQ:AEPGet Rating) by 3.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,410 shares of the company’s stock after selling 372 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in American Electric Power were worth $903,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Aldebaran Financial Inc. lifted its holdings in shares of American Electric Power by 4.2% in the first quarter. Aldebaran Financial Inc. now owns 2,500 shares of the company’s stock valued at $249,000 after buying an additional 100 shares during the period. Great Valley Advisor Group Inc. lifted its holdings in shares of American Electric Power by 2.5% during the first quarter. Great Valley Advisor Group Inc. now owns 4,157 shares of the company’s stock valued at $406,000 after purchasing an additional 100 shares during the last quarter. Bridgewater Advisors Inc. lifted its holdings in shares of American Electric Power by 2.2% during the first quarter. Bridgewater Advisors Inc. now owns 4,664 shares of the company’s stock valued at $465,000 after purchasing an additional 101 shares during the last quarter. Bogart Wealth LLC lifted its holdings in shares of American Electric Power by 6.3% during the first quarter. Bogart Wealth LLC now owns 1,723 shares of the company’s stock valued at $172,000 after purchasing an additional 102 shares during the last quarter. Finally, Gryphon Financial Partners LLC lifted its holdings in shares of American Electric Power by 1.8% during the first quarter. Gryphon Financial Partners LLC now owns 5,875 shares of the company’s stock valued at $586,000 after purchasing an additional 105 shares during the last quarter. Institutional investors and hedge funds own 74.70% of the company’s stock.

American Electric Power Stock Performance

Shares of AEP stock opened at $98.88 on Friday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.75 and a quick ratio of 0.66. American Electric Power Company, Inc. has a fifty-two week low of $80.22 and a fifty-two week high of $105.60. The stock’s 50-day moving average is $100.41 and its two-hundred day moving average is $98.98. The firm has a market cap of $50.80 billion, a P/E ratio of 19.43, a PEG ratio of 3.27 and a beta of 0.34.

American Electric Power (NASDAQ:AEPGet Rating) last issued its earnings results on Wednesday, July 27th. The company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.01. American Electric Power had a return on equity of 10.46% and a net margin of 14.39%. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $3.98 billion. During the same period in the prior year, the firm posted $1.18 EPS. The business’s revenue was up 21.1% compared to the same quarter last year. Analysts predict that American Electric Power Company, Inc. will post 4.99 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Wednesday, August 10th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend was Tuesday, August 9th. American Electric Power’s dividend payout ratio is 61.30%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AEP shares. Morgan Stanley reduced their target price on American Electric Power from $118.00 to $116.00 and set an “overweight” rating for the company in a report on Thursday. Evercore ISI upped their target price on American Electric Power to $107.00 in a report on Monday, August 15th. Credit Suisse Group upped their price target on American Electric Power from $103.00 to $105.00 and gave the company an “outperform” rating in a research report on Thursday, July 28th. Finally, Citigroup upped their price target on American Electric Power from $94.00 to $99.00 in a research report on Thursday, July 28th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, American Electric Power currently has an average rating of “Moderate Buy” and an average price target of $105.43.

American Electric Power Company Profile

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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.

Further Reading

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Institutional Ownership by Quarter for American Electric Power (NASDAQ:AEP)

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