American Electric Power Company, Inc. (NASDAQ:AEP) Shares Acquired by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC boosted its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 97,037.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,771 shares of the company’s stock after purchasing an additional 7,763 shares during the period. Frank Rimerman Advisors LLC’s holdings in American Electric Power were worth $682,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Profund Advisors LLC grew its stake in shares of American Electric Power by 15.5% in the second quarter. Profund Advisors LLC now owns 67,132 shares of the company’s stock valued at $5,890,000 after buying an additional 9,024 shares in the last quarter. Kowal Investment Group LLC grew its position in American Electric Power by 9.0% in the second quarter. Kowal Investment Group LLC now owns 2,627 shares of the company’s stock valued at $231,000 after acquiring an additional 218 shares in the last quarter. Ensign Peak Advisors Inc grew its position in American Electric Power by 1.7% in the second quarter. Ensign Peak Advisors Inc now owns 266,718 shares of the company’s stock valued at $23,402,000 after acquiring an additional 4,330 shares in the last quarter. Huber Capital Management LLC raised its stake in shares of American Electric Power by 167.5% during the second quarter. Huber Capital Management LLC now owns 19,262 shares of the company’s stock valued at $1,690,000 after purchasing an additional 12,061 shares during the period. Finally, Summit Trail Advisors LLC boosted its stake in shares of American Electric Power by 18.8% in the second quarter. Summit Trail Advisors LLC now owns 4,004 shares of the company’s stock valued at $351,000 after purchasing an additional 634 shares during the period. 75.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AEP. JPMorgan Chase & Co. boosted their price objective on shares of American Electric Power from $101.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. BMO Capital Markets raised their price objective on American Electric Power from $105.00 to $109.00 and gave the company an “outperform” rating in a research note on Monday, September 9th. Guggenheim upped their target price on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Bank of America raised their price target 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. Finally, Morgan Stanley upped their price target on shares of American Electric Power from $95.00 to $102.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. 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. According to data from MarketBeat.com, American Electric Power presently has a consensus rating of “Hold” and an average price target of $96.00.

American Electric Power Stock Up 0.4 %

NASDAQ:AEP opened at $102.53 on Tuesday. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53. The stock has a 50 day moving average of $98.82 and a 200-day moving average of $91.06. The firm has a market capitalization of $54.05 billion, a PE ratio of 19.02, a price-to-earnings-growth 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.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.02. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same period last year, the company earned $1.13 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. Analysts predict that American Electric Power Company, Inc. will post 5.59 EPS for the current 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 given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 3.43%. The ex-dividend date 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.