Johnson Investment Counsel Inc. reduced its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 5.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 19,569 shares of the company’s stock after selling 1,131 shares during the period. Johnson Investment Counsel Inc.’s holdings in American Electric Power were worth $1,655,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. Paragon Wealth Strategies LLC bought a new stake in American Electric Power during the 2nd quarter valued at $35,000. Cowen Prime Advisors LLC bought a new position in shares of American Electric Power in the 2nd quarter worth $38,000. Tsfg LLC raised its position in shares of American Electric Power by 43.5% in the 2nd quarter. Tsfg LLC now owns 465 shares of the company’s stock worth $39,000 after acquiring an additional 141 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in shares of American Electric Power by 62.4% in the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 794 shares of the company’s stock worth $41,000 after acquiring an additional 305 shares in the last quarter. Finally, Truvestments Capital LLC raised its position in shares of American Electric Power by 50.8% in the 1st quarter. Truvestments Capital LLC now owns 490 shares of the company’s stock worth $42,000 after acquiring an additional 165 shares in the last quarter. 73.60% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently commented on AEP shares. Morgan Stanley reduced their price target on American Electric Power from $110.00 to $108.00 and set an “overweight” rating for the company in a research report on Friday, September 17th. Bank of America raised American Electric Power from a “neutral” rating to a “buy” rating and set a $86.88 price target for the company in a research report on Monday, July 26th. Finally, Wells Fargo & Company reduced their price target on American Electric Power from $96.00 to $93.00 and set an “equal weight” rating for the company in a research report on Friday, July 23rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, American Electric Power has a consensus rating of “Buy” and an average price target of $94.99.
Shares of AEP opened at $83.46 on Thursday. The company has a market capitalization of $41.75 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 3.30 and a beta of 0.27. American Electric Power Company, Inc. has a 52 week low of $74.80 and a 52 week high of $94.21. The company has a quick ratio of 0.33, a current ratio of 0.44 and a debt-to-equity ratio of 1.42. The stock’s 50-day moving average price is $86.90 and its 200-day moving average price is $86.45.
American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Wednesday, July 21st. The company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. The company had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $4.05 billion. American Electric Power had a return on equity of 11.02% and a net margin of 14.78%. American Electric Power’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.08 EPS. As a group, equities analysts anticipate that American Electric Power Company, Inc. will post 4.7 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 10th. Shareholders of record on Tuesday, August 10th were issued a dividend of $0.74 per share. The ex-dividend date was Monday, August 9th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.55%. American Electric Power’s payout ratio is currently 66.67%.
American Electric Power Profile
American Electric Power Co, Inc engages in the business of generation, transmission and distribution of electricity. It operates through the following segments: Vertically Integrated Utilities, Transmission & Distribution Utilities, AEP Transmission Holdco and Generation & Marketing. The Vertically Integrated Utilities segment engages in the generation, transmission and distribution of electricity for sale to retail and wholesale customers through assets owned and operated by its subsidiaries.
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