American Electric Power Company, Inc. (NASDAQ:AEP) Shares Bought by Providence Capital Advisors LLC

Providence Capital Advisors LLC increased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,782 shares of the company’s stock after acquiring an additional 593 shares during the period. Providence Capital Advisors LLC’s holdings in American Electric Power were worth $3,578,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of AEP. Congress Wealth Management LLC DE grew its holdings in American Electric Power by 124.4% during the fourth quarter. Congress Wealth Management LLC DE now owns 6,235 shares of the company’s stock worth $507,000 after acquiring an additional 3,457 shares during the period. Cape Investment Advisory Inc. boosted its position in shares of American Electric Power by 116.3% in the 4th quarter. Cape Investment Advisory Inc. now owns 1,774 shares of the company’s stock valued at $144,000 after purchasing an additional 954 shares during the period. Hilltop Holdings Inc. boosted its position in shares of American Electric Power by 24.7% in the 4th quarter. Hilltop Holdings Inc. now owns 7,567 shares of the company’s stock valued at $615,000 after purchasing an additional 1,499 shares during the period. Heritage Wealth Advisors boosted its position in shares of American Electric Power by 94.3% in the 4th quarter. Heritage Wealth Advisors now owns 1,063 shares of the company’s stock valued at $86,000 after purchasing an additional 516 shares during the period. Finally, Parallel Advisors LLC boosted its position in American Electric Power by 11.1% during the 4th quarter. Parallel Advisors LLC now owns 6,240 shares of the company’s stock worth $507,000 after acquiring an additional 621 shares during the period. 75.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on AEP. BMO Capital Markets lifted their price target on American Electric Power from $105.00 to $109.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Bank of America boosted their target price 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 raised their price target on shares of American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Jefferies Financial Group assumed coverage on shares of American Electric Power in a research report on Friday. They set a “hold” rating and a $107.00 target price on the stock. Finally, Barclays lifted their target price on shares of American Electric Power from $91.00 to $96.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, American Electric Power presently has a consensus rating of “Hold” and a consensus price target of $96.00.

American Electric Power Trading Up 0.4 %

Shares of 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 company has a market cap of $54.05 billion, a PE ratio of 19.02, a P/E/G ratio of 2.95 and a beta of 0.54. The company has a 50-day moving average of $98.82 and a two-hundred day moving average of $91.06. American Electric Power Company, Inc. has a 1-year low of $69.38 and a 1-year high of $105.18.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. The business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.74 billion. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. American Electric Power’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.13 earnings per share. As a group, equities analysts expect that American Electric Power Company, Inc. will post 5.59 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend was Friday, August 9th. American Electric Power’s dividend payout ratio 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.