Brown Brothers Harriman & Co. boosted its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,502 shares of the company’s stock after buying an additional 340 shares during the period. Brown Brothers Harriman & Co.’s holdings in American Electric Power were worth $1,565,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in AEP. Paragon Wealth Strategies LLC purchased a new position in shares of American Electric Power during the 2nd quarter worth approximately $35,000. Cowen Prime Advisors LLC purchased a new position in shares of American Electric Power in the 2nd quarter valued at about $38,000. Tsfg LLC increased its holdings in shares of American Electric Power by 43.5% in the 2nd quarter. Tsfg LLC now owns 465 shares of the company’s stock valued at $39,000 after purchasing an additional 141 shares in the last quarter. Truvestments Capital LLC lifted its stake in shares of American Electric Power by 50.8% in the first quarter. Truvestments Capital LLC now owns 490 shares of the company’s stock valued at $42,000 after purchasing an additional 165 shares during the period. Finally, tru Independence LLC purchased a new stake in American Electric Power during the second quarter worth about $43,000. 73.60% of the stock is currently owned by institutional investors.
AEP has been the subject of a number of research reports. Morgan Stanley reduced their price target on shares of American Electric Power from $110.00 to $108.00 and set an “overweight” rating for the company in a research report on Friday, September 17th. Wells Fargo & Company lowered their target price on American Electric Power from $96.00 to $93.00 and set an “equal weight” rating on the stock in a report on Friday, July 23rd. Finally, Bank of America upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating and set a $86.88 price objective on the stock in a research report on Monday, July 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, American Electric Power currently has a consensus rating of “Buy” and a consensus price target of $94.99.
Shares of NASDAQ:AEP opened at $83.46 on Thursday. The company has a market cap of $41.75 billion, a P/E ratio of 17.72, a P/E/G ratio of 3.30 and a beta of 0.27. The business has a fifty day simple moving average of $86.90 and a 200-day simple moving average of $86.45. American Electric Power Company, Inc. has a 52 week low of $74.80 and a 52 week high of $94.21. The company has a quick ratio of 0.33, a current ratio of 0.44 and a debt-to-equity ratio of 1.42.
American Electric Power (NASDAQ:AEP) last issued its quarterly earnings results on Wednesday, July 21st. The company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. American Electric Power had a return on equity of 11.02% and a net margin of 14.78%. The firm had revenue of $3.80 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same period last year, the company earned $1.08 EPS. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. Sell-side analysts expect that American Electric Power Company, Inc. will post 4.7 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 10th. Investors of record on Tuesday, August 10th were issued a $0.74 dividend. The ex-dividend date was Monday, August 9th. This represents a $2.96 dividend on an annualized basis and a yield of 3.55%. American Electric Power’s payout ratio is 66.67%.
About American Electric Power
American Electric Power Co, Inc engages in the business of generation, transmission and distribution of electricity. It operates through the following segments: Vertically Integrated Utilities, Transmission & Distribution Utilities, AEP Transmission Holdco and Generation & Marketing. The Vertically Integrated Utilities segment engages in the generation, transmission and distribution of electricity for sale to retail and wholesale customers through assets owned and operated by its subsidiaries.
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