Thurston Springer Miller Herd & Titak Inc. Has $119,000 Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Thurston Springer Miller Herd & Titak Inc. reduced its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 65.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,358 shares of the company’s stock after selling 2,583 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in American Electric Power were worth $119,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AEP. Richardson Financial Services Inc. lifted its holdings in shares of American Electric Power by 3.9% in the first quarter. Richardson Financial Services Inc. now owns 3,084 shares of the company’s stock valued at $266,000 after purchasing an additional 115 shares in the last quarter. Bogart Wealth LLC lifted its holdings in American Electric Power by 7.8% during the first quarter. Bogart Wealth LLC now owns 1,650 shares of the company’s stock worth $142,000 after acquiring an additional 119 shares during the period. Seelaus Asset Management LLC grew its position in American Electric Power by 1.9% during the first quarter. Seelaus Asset Management LLC now owns 6,775 shares of the company’s stock valued at $583,000 after buying an additional 125 shares during the period. Personal CFO Solutions LLC increased its holdings in American Electric Power by 2.5% during the fourth quarter. Personal CFO Solutions LLC now owns 5,345 shares of the company’s stock worth $434,000 after buying an additional 130 shares during the last quarter. Finally, Greenleaf Trust raised its position in American Electric Power by 1.5% in the first quarter. Greenleaf Trust now owns 8,638 shares of the company’s stock worth $744,000 after acquiring an additional 130 shares during the period. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Stock Up 0.2 %

Shares of NASDAQ AEP traded up $0.23 during midday trading on Tuesday, hitting $98.29. The stock had a trading volume of 4,524,564 shares, compared to its average volume of 3,296,453. The company has a market cap of $51.81 billion, a P/E ratio of 18.37, a PEG ratio of 2.92 and a beta of 0.53. The company has a quick ratio of 0.37, a current ratio of 0.65 and a debt-to-equity ratio of 1.53. The business’s 50 day moving average is $90.66 and its 200-day moving average is $86.22. American Electric Power Company, Inc. has a 52 week low of $69.38 and a 52 week high of $104.41.

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 the consensus estimate 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 return on equity of 11.31% and a net margin of 13.52%. American Electric Power’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the company earned $1.13 EPS. As a group, analysts predict that American Electric Power Company, Inc. will post 5.59 EPS for the current year.

American Electric Power Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be issued a dividend of $0.88 per share. The ex-dividend date is Friday, August 9th. This represents a $3.52 dividend on an annualized basis and a yield of 3.58%. American Electric Power’s dividend payout ratio is currently 65.31%.

Analyst Ratings Changes

Several research firms recently commented on AEP. LADENBURG THALM/SH SH upgraded American Electric Power from a “sell” rating to a “neutral” rating and upped their price objective for the company from $73.00 to $86.00 in a research note on Thursday, June 6th. Scotiabank upped their target price on shares of American Electric Power from $90.00 to $99.00 and gave the stock a “sector outperform” rating in a report on Wednesday, July 31st. BMO Capital Markets upped their price target on shares of American Electric Power from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Barclays lifted their price objective on American Electric Power from $91.00 to $96.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Finally, Guggenheim upped their target price on American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Two analysts have rated the stock with a sell rating, six have assigned 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 a consensus price target of $92.00.

Insider Buying and Selling

In other American Electric Power news, EVP Greg B. Hall sold 5,880 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $88.25, for a total value of $518,910.00. Following the completion of the transaction, the executive vice president now directly owns 6,385 shares in the company, valued at approximately $563,476.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Greg B. Hall sold 5,880 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $88.25, for a total value of $518,910.00. Following the sale, the executive vice president now directly owns 6,385 shares in the company, valued at approximately $563,476.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Therace Risch 5,274 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The disclosure for this trade can be found here. 0.12% of the stock is owned by insiders.

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.