Thoroughbred Financial Services LLC Acquires New Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Thoroughbred Financial Services LLC acquired a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,484 shares of the company’s stock, valued at approximately $217,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Meeder Advisory Services Inc. increased its stake in shares of American Electric Power by 31.2% in the 2nd quarter. Meeder Advisory Services Inc. now owns 12,208 shares of the company’s stock worth $1,071,000 after acquiring an additional 2,904 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of American Electric Power by 1.7% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 130,313 shares of the company’s stock worth $11,523,000 after acquiring an additional 2,142 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of American Electric Power by 5.5% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 43,522 shares of the company’s stock worth $3,819,000 after acquiring an additional 2,271 shares during the last quarter. Investment Partners LTD. increased its stake in shares of American Electric Power by 1.7% in the 2nd quarter. Investment Partners LTD. now owns 20,656 shares of the company’s stock worth $1,812,000 after acquiring an additional 338 shares during the last quarter. Finally, Eagle Strategies LLC acquired a new stake in shares of American Electric Power in the 2nd quarter worth $452,000. 75.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on AEP shares. JPMorgan Chase & Co. raised their target price on American Electric Power from $101.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. BMO Capital Markets increased their price target on American Electric Power from $105.00 to $109.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. Morgan Stanley increased their price target on American Electric Power from $95.00 to $102.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Bank of America increased their price target on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Finally, Guggenheim increased 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. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, American Electric Power has an average rating of “Hold” and a consensus target price of $95.15.

American Electric Power Price Performance

Shares of NASDAQ AEP opened at $104.21 on Wednesday. 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 fifty-two week low of $69.38 and a fifty-two week high of $105.18. The firm has a market capitalization of $54.93 billion, a PE ratio of 19.33, a price-to-earnings-growth ratio of 2.95 and a beta of 0.54. The stock’s 50-day simple moving average is $98.07 and its 200-day simple moving average is $90.67.

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 business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter last year, the company earned $1.13 EPS. The business’s quarterly revenue was up 4.5% on a year-over-year basis. As a group, equities research analysts forecast that American Electric Power Company, Inc. will post 5.59 EPS for the current fiscal year.

American Electric Power Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend 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.