Profund Advisors LLC Acquires 9,024 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Profund Advisors LLC grew its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 15.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 67,132 shares of the company’s stock after purchasing an additional 9,024 shares during the period. Profund Advisors LLC’s holdings in American Electric Power were worth $5,890,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. HHM Wealth Advisors LLC boosted its stake in shares of 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 in the last quarter. Denali Advisors LLC acquired a new stake in American Electric Power in the first quarter valued at approximately $26,000. Rise Advisors LLC acquired a new stake in American Electric Power in the first quarter valued at approximately $27,000. YHB Investment Advisors Inc. bought a new stake in shares of American Electric Power during the first quarter worth $29,000. Finally, LRI Investments LLC increased its holdings 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 buying an additional 365 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Price Performance

American Electric Power stock opened at $102.15 on Friday. The stock has a market capitalization of $53.85 billion, a price-to-earnings ratio of 18.95, a PEG 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 debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65. The stock’s 50 day moving average price is $98.82 and its two-hundred day moving average price is $90.96.

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

American Electric Power Dividend Announcement

The company 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 yield of 3.45%. The ex-dividend date of this dividend was Friday, August 9th. American Electric Power’s dividend payout ratio (DPR) is currently 65.31%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Scotiabank boosted their price objective on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Bank of America boosted their price target on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Barclays raised their price objective on shares of American Electric Power from $91.00 to $96.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Morgan Stanley boosted their target price on shares of American Electric Power from $95.00 to $102.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Finally, LADENBURG THALM/SH SH raised shares of American Electric Power from a “sell” rating to a “neutral” rating and raised their price target for the company from $73.00 to $86.00 in a research note on Thursday, June 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, American Electric Power 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.