Hsbc Holdings PLC Cuts Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Hsbc Holdings PLC trimmed its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 24.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 916,793 shares of the company’s stock after selling 300,175 shares during the quarter. Hsbc Holdings PLC owned 0.17% of American Electric Power worth $80,459,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of AEP. HHM Wealth Advisors LLC grew its stake in American Electric Power by 57.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after purchasing an additional 103 shares during the period. Frazier Financial Advisors LLC purchased a new position in shares of American Electric Power in the 4th quarter worth about $26,000. Denali Advisors LLC bought a new position in American Electric Power during the first quarter valued at about $26,000. Rise Advisors LLC purchased a new stake in American Electric Power during the first quarter worth about $27,000. Finally, YHB Investment Advisors Inc. bought a new stake in American Electric Power in the first quarter worth about $29,000. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Price Performance

AEP stock opened at $101.74 on Friday. The firm has a 50 day moving average of $98.37 and a 200-day moving average of $90.76. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $53.63 billion, a P/E ratio of 18.88, a price-to-earnings-growth ratio of 2.95 and a beta of 0.54. American Electric Power Company, Inc. has a 12 month low of $69.38 and a 12 month high of $105.18.

American Electric Power (NASDAQ:AEP) last released its quarterly 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. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The firm had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same period in the previous year, the business earned $1.13 EPS. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, sell-side analysts predict that American Electric Power Company, Inc. will post 5.59 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a $0.88 dividend. The ex-dividend date was Friday, August 9th. This represents a $3.52 annualized dividend and a dividend yield of 3.46%. American Electric Power’s payout ratio is currently 65.31%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AEP. Barclays increased their target price on shares of 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. Morgan Stanley boosted their target price on American Electric Power from $95.00 to $102.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Bank of America upped their price target on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. LADENBURG THALM/SH SH raised American Electric Power from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $73.00 to $86.00 in a report on Thursday, June 6th. Finally, Guggenheim upped their price objective 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. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, American Electric Power currently has an average rating of “Hold” and an average price target of $95.15.

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.