Bridges Investment Management Inc. Raises Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Bridges Investment Management Inc. increased its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 71.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,495 shares of the company’s stock after acquiring an additional 1,875 shares during the quarter. Bridges Investment Management Inc.’s holdings in American Electric Power were worth $394,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AEP. HHM Wealth Advisors LLC increased its position in shares of American Electric Power by 57.2% during 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 in the last quarter. Denali Advisors LLC acquired a new position in American Electric Power during the first quarter worth approximately $26,000. Rise Advisors LLC purchased a new stake in American Electric Power in the first quarter valued at approximately $27,000. YHB Investment Advisors Inc. acquired a new stake in shares of American Electric Power in the first quarter valued at approximately $29,000. Finally, LRI Investments LLC grew its position in shares of American Electric Power by 935.9% during the second quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after acquiring an additional 365 shares during the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Trading Up 0.4 %

Shares of AEP stock opened at $102.15 on Friday. The stock has a market cap of $53.85 billion, a P/E ratio of 18.95, a P/E/G ratio of 2.95 and a beta of 0.54. 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 Company, Inc. has a fifty-two week low of $69.38 and a fifty-two week high of $105.18. The business has a fifty day simple moving average of $98.82 and a 200-day simple moving average of $90.96.

American Electric Power (NASDAQ:AEP) last posted its earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, beating 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 firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period last year, the firm posted $1.13 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts forecast that American Electric Power Company, Inc. will post 5.59 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently announced 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 of this dividend was Friday, August 9th. This represents a $3.52 dividend on an annualized basis and a yield of 3.45%. American Electric Power’s dividend payout ratio (DPR) is 65.31%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AEP shares. Barclays increased 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. LADENBURG THALM/SH SH raised American Electric Power from a “sell” rating to a “neutral” rating and raised their price target for the stock from $73.00 to $86.00 in a report on Thursday, June 6th. Jefferies Financial Group initiated coverage on American Electric Power in a research note on Friday. They set a “hold” rating and a $107.00 price objective for the company. BMO Capital Markets boosted their target price on American Electric Power from $105.00 to $109.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Finally, Bank of America boosted their price objective on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, American Electric Power presently has an average rating of “Hold” and a consensus target price of $96.00.

About American Electric Power

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.