Bradley Foster & Sargent Inc. CT Buys New Shares in American Electric Power Company, Inc. (NASDAQ:AEP)

Bradley Foster & Sargent Inc. CT bought a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,307 shares of the company’s stock, valued at approximately $202,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AEP. HHM Wealth Advisors LLC lifted its holdings in shares of American Electric Power by 57.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after acquiring an additional 103 shares during the period. Bank of Stockton lifted its stake in 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 during the period. Richardson Financial Services Inc. boosted its holdings 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 valued at $266,000 after purchasing an additional 115 shares in the last quarter. Addison Advisors LLC grew its stake in shares of American Electric Power by 14.8% in the 2nd quarter. Addison Advisors LLC now owns 902 shares of the company’s stock valued at $79,000 after purchasing an additional 116 shares during the period. Finally, Bogart Wealth LLC raised its holdings in shares of American Electric Power by 7.8% in the 1st quarter. Bogart Wealth LLC now owns 1,650 shares of the company’s stock worth $142,000 after buying an additional 119 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Morgan Stanley upped their price target on American Electric Power from $95.00 to $102.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. LADENBURG THALM/SH SH upgraded shares of American Electric Power from a “sell” rating to a “neutral” rating and increased their target price for the stock from $73.00 to $86.00 in a research report on Thursday, June 6th. Scotiabank boosted 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 research report on Tuesday, August 20th. JPMorgan Chase & Co. upped their price objective on shares of American Electric Power from $101.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Finally, BMO Capital Markets lifted their target price on shares of American Electric Power from $105.00 to $109.00 and gave the company an “outperform” rating in a research note on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $96.00.

American Electric Power Stock Up 0.4 %

NASDAQ:AEP opened at $102.15 on Friday. The company has a market cap of $53.85 billion, a price-to-earnings ratio of 18.95, a P/E/G ratio of 2.95 and a beta of 0.54. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65. The stock’s fifty day moving average price is $98.82 and its two-hundred day moving average price is $90.96. American Electric Power Company, Inc. has a 52-week low of $69.38 and a 52-week high of $105.18.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.02. The business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.74 billion. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.13 earnings per share. On average, analysts anticipate that American Electric Power Company, Inc. will post 5.59 EPS for the current year.

American Electric Power Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors 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 dividend yield of 3.45%. The ex-dividend date of this dividend was Friday, August 9th. American Electric Power’s dividend payout ratio (DPR) is 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.