HBK Sorce Advisory LLC Decreases Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

HBK Sorce Advisory LLC cut its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 6.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,500 shares of the company’s stock after selling 623 shares during the quarter. HBK Sorce Advisory LLC’s holdings in American Electric Power were worth $746,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. HHM Wealth Advisors LLC increased its position in shares of American Electric Power by 57.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after purchasing an additional 103 shares during the last quarter. Frazier Financial Advisors LLC purchased a new position in American Electric Power in the fourth quarter valued at $26,000. Denali Advisors LLC purchased a new position in American Electric Power in the first quarter valued at $26,000. Rise Advisors LLC acquired a new stake in American Electric Power in the first quarter valued at $27,000. Finally, YHB Investment Advisors Inc. purchased a new stake in American Electric Power during the 1st quarter worth about $29,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AEP shares. Guggenheim raised their target price on American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. LADENBURG THALM/SH SH upgraded shares of American Electric Power from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $73.00 to $86.00 in a research report on Thursday, June 6th. Bank of America increased their target price on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Morgan Stanley boosted their price target on shares of American Electric Power from $95.00 to $102.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Finally, Barclays raised their price objective on American Electric Power from $91.00 to $96.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $95.15.

American Electric Power Price Performance

American Electric Power stock opened at $104.17 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.48. The business has a 50 day simple moving average of $97.39 and a 200-day simple moving average of $90.31. American Electric Power Company, Inc. has a 12 month low of $69.38 and a 12 month high of $104.41. The stock has a market capitalization of $55.43 billion, a PE ratio of 19.33, a price-to-earnings-growth ratio of 2.95 and a beta of 0.54.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $4.74 billion. During the same quarter in the prior year, the firm earned $1.13 EPS. American Electric Power’s quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts predict that American Electric Power Company, Inc. will post 5.59 earnings per share for the current year.

American Electric Power Dividend Announcement

The firm also recently announced 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 payout ratio 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.