Everett Harris & Co. CA Cuts Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Everett Harris & Co. CA decreased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 26.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,711 shares of the company’s stock after selling 1,000 shares during the period. Everett Harris & Co. CA’s holdings in American Electric Power were worth $278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in AEP. HHM Wealth Advisors LLC boosted its holdings in American Electric Power by 57.2% in the 2nd 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 last quarter. E Fund Management Co. Ltd. boosted its stake in shares of American Electric Power by 2.0% in the second 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 last quarter. Bank of Stockton increased its position in shares of American Electric Power by 2.2% during the second quarter. Bank of Stockton now owns 5,062 shares of the company’s stock worth $444,000 after purchasing an additional 111 shares in the last quarter. First United Bank & Trust raised its stake in American Electric Power by 17.1% in the 3rd 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 last quarter. Finally, Richardson Financial Services Inc. lifted its holdings in American Electric Power by 3.9% in the 1st 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. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Stock Performance

Shares of American Electric Power stock opened at $100.69 on Friday. The business’s fifty day simple moving average is $100.43 and its 200-day simple moving average is $93.34. 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 firm has a market cap of $53.08 billion, a PE ratio of 18.68, 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 $72.01 and a 52 week high of $105.18.

American Electric Power (NASDAQ:AEP) last announced its earnings results 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. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The company had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter last year, the firm posted $1.13 earnings per share. American Electric Power’s revenue was up 4.5% compared to the same quarter last year. Equities analysts forecast that American Electric Power Company, Inc. will post 5.6 earnings per share for the current year.

American Electric Power Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend was Friday, August 9th. American Electric Power’s dividend payout ratio (DPR) is 65.31%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Barclays increased 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 report on Tuesday, October 15th. 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. BMO Capital Markets boosted their target price on American Electric Power from $109.00 to $114.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Morgan Stanley increased their price target on American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Finally, Guggenheim boosted their price objective 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 equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.