Duff & Phelps Investment Management Co. Reduces Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Duff & Phelps Investment Management Co. cut its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 7.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 657,210 shares of the company’s stock after selling 55,280 shares during the quarter. Duff & Phelps Investment Management Co. owned about 0.12% of American Electric Power worth $57,664,000 at the end of the most recent quarter.

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

American Electric Power Price Performance

Shares of American Electric Power stock opened at $101.84 on Friday. The firm has a market cap of $53.68 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 2.93 and a beta of 0.54. The company’s fifty day simple moving average is $99.71 and its two-hundred day simple moving average is $91.63. 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 Company, Inc. has a 12-month low of $69.38 and a 12-month high of $105.18.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the previous year, the business earned $1.13 EPS. American Electric Power’s revenue was up 4.5% compared to the same quarter last year. As a group, equities analysts expect that American Electric Power Company, Inc. will post 5.6 EPS for the current year.

American Electric Power Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date was Friday, August 9th. American Electric Power’s payout ratio is 65.31%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Scotiabank increased their price target on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. LADENBURG THALM/SH SH upgraded American Electric Power from a “sell” rating to a “neutral” rating and increased their price objective for the company from $73.00 to $86.00 in a research report on Thursday, June 6th. Bank of America boosted their target price on 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 price target on shares of American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of American Electric Power from $101.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, American Electric Power currently has a consensus rating of “Hold” and a consensus price target of $96.43.

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.