American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC lowered its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 19.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,528 shares of the company’s stock after selling 7,154 shares during the period. Prime Capital Investment Advisors LLC’s holdings in American Electric Power were worth $2,591,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Nomura Holdings Inc. acquired a new position in American Electric Power in the fourth quarter worth approximately $175,667,000. Mitsubishi UFJ Trust & Banking Corp lifted its stake in American Electric Power by 542.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock worth $193,541,000 after acquiring an additional 1,927,234 shares in the last quarter. Nordea Investment Management AB boosted its position in American Electric Power by 381.9% during the 1st quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock worth $171,127,000 after acquiring an additional 1,581,734 shares during the period. National Bank of Canada FI boosted its position in American Electric Power by 221.9% during the 1st quarter. National Bank of Canada FI now owns 1,715,346 shares of the company’s stock worth $157,140,000 after acquiring an additional 1,182,451 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in American Electric Power by 67.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 2,586,250 shares of the company’s stock valued at $210,055,000 after acquiring an additional 1,043,885 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AEP has been the subject of several research reports. Morgan Stanley raised their price target on shares of American Electric Power from $95.00 to $102.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Bank of America upped 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 note on Thursday, August 29th. LADENBURG THALM/SH SH raised American Electric Power from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $73.00 to $86.00 in a research report on Thursday, June 6th. 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 research report on Wednesday, August 7th. Finally, BMO Capital Markets lifted their price target on American Electric Power from $105.00 to $109.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, American Electric Power currently has a consensus rating of “Hold” and an average price target of $95.15.

American Electric Power Stock Up 0.7 %

Shares of American Electric Power stock opened at $104.95 on Tuesday. American Electric Power Company, Inc. has a 12-month low of $69.38 and a 12-month high of $105.18. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53. The stock has a 50 day moving average price of $97.74 and a two-hundred day moving average price of $90.54. The stock has a market capitalization of $55.32 billion, a P/E ratio of 19.47, a PEG ratio of 2.95 and a beta of 0.54.

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

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were given a dividend of $0.88 per share. The ex-dividend date was Friday, August 9th. This represents a $3.52 annualized dividend and a dividend yield of 3.35%. American Electric Power’s dividend payout ratio is presently 65.31%.

American Electric Power Company 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.