PFG Investments LLC Trims Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

PFG Investments LLC lessened its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 2.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,728 shares of the company’s stock after selling 543 shares during the quarter. PFG Investments LLC’s holdings in American Electric Power were worth $2,640,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in AEP. HHM Wealth Advisors LLC lifted its position in American Electric Power by 57.2% during the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after buying an additional 103 shares during the period. E Fund Management Co. Ltd. lifted its holdings in shares of American Electric Power by 2.0% during the 2nd quarter. E Fund Management Co. Ltd. now owns 5,286 shares of the company’s stock worth $464,000 after acquiring an additional 105 shares during the period. Bank of Stockton boosted its position in shares of American Electric Power by 2.2% in the second quarter. Bank of Stockton now owns 5,062 shares of the company’s stock worth $444,000 after acquiring an additional 111 shares during the last quarter. First United Bank & Trust grew its holdings in American Electric Power by 17.1% in the third quarter. First United Bank & Trust now owns 766 shares of the company’s stock valued at $79,000 after purchasing an additional 112 shares during the period. Finally, Richardson Financial Services Inc. increased its position in American Electric Power by 3.9% during the first quarter. Richardson Financial Services Inc. now owns 3,084 shares of the company’s stock worth $266,000 after purchasing an additional 115 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Stock Performance

AEP stock traded down $1.20 during trading on Friday, hitting $98.19. 2,338,992 shares of the company’s stock traded hands, compared to its average volume of 3,116,072. The stock has a market capitalization of $51.76 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 2.79 and a beta of 0.54. American Electric Power Company, Inc. has a 52 week low of $74.37 and a 52 week high of $105.18. The stock has a fifty day moving average price of $100.68 and a two-hundred day moving average price of $93.82. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, beating 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 return on equity of 11.31% and a net margin of 13.52%. American Electric Power’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.13 earnings per share. As a group, equities analysts anticipate that American Electric Power Company, Inc. will post 5.6 EPS for the current fiscal year.

American Electric Power Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 3.79%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, November 8th. American Electric Power’s payout ratio is presently 69.02%.

Analyst Ratings Changes

AEP has been the topic of several research reports. Scotiabank raised their price target on shares of American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Wells Fargo & Company raised their target price on shares of American Electric Power from $98.00 to $104.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Guggenheim lifted their target price on shares of American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Barclays increased their price target on American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Finally, Morgan Stanley boosted their price objective on American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $98.43.

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.