Procyon Advisors LLC Has $812,000 Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Procyon Advisors LLC decreased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 10.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,913 shares of the company’s stock after selling 921 shares during the quarter. Procyon Advisors LLC’s holdings in American Electric Power were worth $812,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. HHM Wealth Advisors LLC increased its stake in shares of 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 purchasing an additional 103 shares during the last quarter. Denali Advisors LLC acquired a new position in shares of American Electric Power during the 1st quarter worth $26,000. Rise Advisors LLC acquired a new position in shares of American Electric Power during the 1st quarter worth $27,000. LRI Investments LLC grew its stake in American Electric Power by 935.9% in the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock valued at $35,000 after buying an additional 365 shares during the last quarter. Finally, Briaud Financial Planning Inc grew its stake in American Electric Power by 52.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after buying an additional 150 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Scotiabank raised their target price on shares of American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. BMO Capital Markets raised their target price on shares of American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Barclays raised their target price on shares of American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday. Morgan Stanley raised their target price on shares of American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Finally, Jefferies Financial Group started coverage on shares of American Electric Power in a research note on Friday, September 20th. They issued a “hold” rating and a $107.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $97.07.

American Electric Power Stock Performance

NASDAQ AEP opened at $99.66 on Wednesday. The company’s fifty day moving average is $100.27 and its two-hundred day moving average is $93.06. The firm has a market capitalization of $52.53 billion, a price-to-earnings ratio of 18.49, a P/E/G ratio of 2.79 and a beta of 0.54. American Electric Power Company, Inc. has a 52-week low of $72.01 and a 52-week high of $105.18. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.48.

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 analysts’ consensus estimates 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 net margin of 13.52% and a return on equity of 11.31%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the firm earned $1.13 EPS. Equities research analysts forecast that American Electric Power Company, Inc. will post 5.6 EPS for the current 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 3.53%. The ex-dividend date of this dividend was Friday, August 9th. American Electric Power’s payout ratio is 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.