Envestnet Asset Management Inc. Increases Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Envestnet Asset Management Inc. raised its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 1.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,378,543 shares of the company’s stock after acquiring an additional 35,769 shares during the quarter. Envestnet Asset Management Inc.’s holdings in American Electric Power were worth $296,433,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of AEP. Oppenheimer Asset Management Inc. lifted its stake in American Electric Power by 27.2% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 26,498 shares of the company’s stock valued at $2,325,000 after acquiring an additional 5,671 shares during the period. Wealthspire Advisors LLC boosted its stake in shares of American Electric Power by 1.6% in the 2nd quarter. Wealthspire Advisors LLC now owns 16,100 shares of the company’s stock worth $1,413,000 after buying an additional 256 shares during the last quarter. Thoroughbred Financial Services LLC bought a new stake in shares of American Electric Power in the second quarter worth $217,000. Meeder Advisory Services Inc. increased its position in American Electric Power by 31.2% during the second quarter. Meeder Advisory Services Inc. now owns 12,208 shares of the company’s stock valued at $1,071,000 after acquiring an additional 2,904 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in American Electric Power by 1.7% in the second quarter. DekaBank Deutsche Girozentrale now owns 130,313 shares of the company’s stock worth $11,523,000 after purchasing an additional 2,142 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Scotiabank increased their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Bank of America boosted their price objective on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. BMO Capital Markets raised their target price on American Electric Power from $105.00 to $109.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. Morgan Stanley upped their price target on American Electric Power from $95.00 to $102.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, 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 report on Thursday, August 1st. 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 stock. According to data from MarketBeat, American Electric Power has an average rating of “Hold” and an average target price of $95.15.

American Electric Power Stock Performance

Shares of NASDAQ:AEP opened at $104.17 on Friday. The firm has a fifty day simple moving average of $97.39 and a two-hundred day simple moving average of $90.35. American Electric Power Company, Inc. has a 52 week low of $69.38 and a 52 week high of $104.41. 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 market capitalization of $54.91 billion, a P/E ratio of 19.33, a PEG ratio of 2.95 and a beta of 0.54.

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

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 3.38%. The ex-dividend date was Friday, August 9th. American Electric Power’s payout ratio is 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.