Richardson Financial Services Inc. Decreases Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Richardson Financial Services Inc. decreased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 14.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,624 shares of the company’s stock after selling 460 shares during the period. Richardson Financial Services Inc.’s holdings in American Electric Power were worth $230,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. HHM Wealth Advisors LLC increased its position in American Electric Power by 57.2% in the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after purchasing an additional 103 shares during the last quarter. Frazier Financial Advisors LLC purchased a new stake in shares of American Electric Power during the 4th quarter valued at about $26,000. Denali Advisors LLC bought a new position in shares of American Electric Power in the 1st quarter valued at about $26,000. Rise Advisors LLC bought a new position in shares of American Electric Power in the 1st quarter valued at about $27,000. Finally, YHB Investment Advisors Inc. bought a new stake in American Electric Power during the first quarter worth approximately $29,000. 75.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AEP has been the subject of several analyst reports. Scotiabank raised their price objective on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. BMO Capital Markets raised their price target on American Electric Power from $105.00 to $109.00 and gave the stock an “outperform” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. boosted their price objective on shares of American Electric Power from $101.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Morgan Stanley increased their target price on shares of American Electric Power from $95.00 to $102.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Finally, Barclays lifted their price target on shares of American Electric Power from $91.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $95.15.

American Electric Power Stock Down 1.0 %

Shares of NASDAQ:AEP opened at $103.22 on Thursday. The business’s 50 day moving average is $98.37 and its 200 day moving average is $90.76. The stock has a market cap of $54.41 billion, a P/E ratio of 19.15, a price-to-earnings-growth ratio of 2.95 and a beta of 0.54. American Electric Power Company, Inc. has a 52-week low of $69.38 and a 52-week high of $105.18. 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 announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.23 by $0.02. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter last year, the firm posted $1.13 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. Sell-side 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 disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.41%. American Electric Power’s dividend payout ratio is presently 65.31%.

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.