American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Raymond James & Associates

by · The Markets Daily

Raymond James & Associates cut its stake in American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 1.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,822,726 shares of the company’s stock after selling 22,242 shares during the period. Raymond James & Associates’ holdings in American Electric Power were worth $187,012,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of AEP. Fisher Asset Management LLC boosted its position in shares of American Electric Power by 35.7% in the fourth quarter. Fisher Asset Management LLC now owns 7,190 shares of the company’s stock worth $584,000 after acquiring an additional 1,892 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of American Electric Power in the fourth quarter worth approximately $559,000. Park Avenue Securities LLC lifted its position in American Electric Power by 1.3% during the first quarter. Park Avenue Securities LLC now owns 28,548 shares of the company’s stock valued at $2,458,000 after buying an additional 360 shares in the last quarter. RFG Advisory LLC acquired a new position in American Electric Power during the first quarter valued at approximately $211,000. Finally, Gulf International Bank UK Ltd lifted its position in American Electric Power by 12.4% during the first quarter. Gulf International Bank UK Ltd now owns 47,512 shares of the company’s stock valued at $4,090,000 after buying an additional 5,230 shares in the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. BMO Capital Markets lifted their price target on shares of American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Barclays lifted their price target on shares of American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Jefferies Financial Group began coverage on shares of American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 target price on the stock. Guggenheim boosted their target price 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. Finally, Morgan Stanley lifted their price target on shares of American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Two equities 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. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $98.43.

Check Out Our Latest Report on American Electric Power

American Electric Power Stock Performance

Shares of AEP opened at $100.69 on Friday. The firm has a 50-day moving average price of $100.43 and a 200 day moving average price of $93.34. The firm has a market capitalization of $53.08 billion, a PE ratio of 18.68, a P/E/G ratio of 2.79 and a beta of 0.54. 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 52-week low of $72.01 and a 52-week high of $105.18.

American Electric Power (NASDAQ:AEP – Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.02. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The company had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter last year, the firm posted $1.13 EPS. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, sell-side analysts anticipate that American Electric Power Company, Inc. will post 5.6 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date was Friday, August 9th. American Electric Power’s dividend payout ratio (DPR) is 65.31%.

American Electric Power Company Profile

(Free Report)

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.

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