American Electric Power Company, Inc. (NASDAQ:AEP) Shares Purchased by King Luther Capital Management Corp

King Luther Capital Management Corp raised its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 10.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,255 shares of the company’s stock after buying an additional 608 shares during the period. King Luther Capital Management Corp’s holdings in American Electric Power were worth $549,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AEP. HHM Wealth Advisors LLC raised its position in shares of American Electric Power by 57.2% in the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after buying an additional 103 shares during the last quarter. Denali Advisors LLC purchased a new stake in American Electric Power during the 1st quarter valued at about $26,000. Rise Advisors LLC acquired a new stake in American Electric Power in the 1st quarter valued at about $27,000. YHB Investment Advisors Inc. purchased a new position in American Electric Power in the 1st quarter worth approximately $29,000. Finally, LRI Investments LLC boosted its holdings in shares of American Electric Power by 935.9% during the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after purchasing an additional 365 shares during the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AEP has been the subject of several recent research reports. Barclays increased their price target on American Electric Power from $91.00 to $96.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Guggenheim lifted their price target on American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. upped their price objective on shares of American Electric Power from $101.00 to $108.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Scotiabank raised their price objective on shares of 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. Finally, BMO Capital Markets boosted their target price on shares of American Electric Power from $105.00 to $109.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $96.00.

American Electric Power Stock Up 0.4 %

Shares of NASDAQ AEP opened at $102.15 on Monday. American Electric Power Company, Inc. has a 52-week low of $69.38 and a 52-week high of $105.18. The business’s 50 day moving average is $98.82 and its two-hundred day moving average is $91.01. The firm has a market cap of $53.85 billion, a price-to-earnings ratio of 18.95, a PEG 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 (NASDAQ:AEP) last posted its earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.02. The firm 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%. American Electric Power’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.13 EPS. Research analysts predict that American Electric Power Company, Inc. will post 5.59 EPS for the current year.

American Electric Power Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date was Friday, August 9th. American Electric Power’s dividend payout ratio (DPR) is currently 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.