ProShare Advisors LLC Has $46.44 Million Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

ProShare Advisors LLC reduced its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 9.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 529,319 shares of the company’s stock after selling 53,373 shares during the quarter. ProShare Advisors LLC owned about 0.10% of American Electric Power worth $46,442,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. HHM Wealth Advisors LLC lifted its holdings in 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 acquiring an additional 103 shares in the last quarter. Denali Advisors LLC acquired a new position in shares of American Electric Power in the 1st quarter valued at approximately $26,000. Rise Advisors LLC acquired a new position in shares of American Electric Power in the 1st quarter valued at approximately $27,000. YHB Investment Advisors Inc. bought a new stake in American Electric Power during the 1st quarter worth approximately $29,000. Finally, LRI Investments LLC raised its holdings in 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 buying an additional 365 shares during the period. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AEP shares. Bank of America increased their price objective on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Guggenheim increased their target price on American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Barclays boosted 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. LADENBURG THALM/SH SH upgraded American Electric Power from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $73.00 to $86.00 in a report on Thursday, June 6th. Finally, Jefferies Financial Group initiated coverage on American Electric Power in a research report on Friday. They issued a “hold” rating and a $107.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $96.00.

American Electric Power Stock Up 0.4 %

Shares of AEP opened at $102.15 on Monday. The firm has a market cap of $53.85 billion, a P/E ratio of 18.95, a price-to-earnings-growth 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. American Electric Power Company, Inc. has a 52 week low of $69.38 and a 52 week high of $105.18. The firm’s 50-day simple moving average is $98.82 and its 200 day simple moving average is $91.01.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates 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%. The company’s revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the company earned $1.13 EPS. On average, analysts forecast 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 disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a dividend of $0.88 per share. 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 payout ratio is 65.31%.

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.