American Electric Power Company, Inc. (NASDAQ:AEP) Shares Purchased by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC raised its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 18.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,918 shares of the company’s stock after purchasing an additional 755 shares during the quarter. Sierra Summit Advisors LLC’s holdings in American Electric Power were worth $432,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of American Electric Power by 0.8% in the first quarter. Vanguard Group Inc. now owns 49,630,436 shares of the company’s stock valued at $4,273,181,000 after buying an additional 405,114 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of American Electric Power by 9.9% in the first quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company’s stock valued at $739,303,000 after purchasing an additional 776,965 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of American Electric Power by 1.1% in the second quarter. Envestnet Asset Management Inc. now owns 3,378,543 shares of the company’s stock worth $296,433,000 after acquiring an additional 35,769 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in American Electric Power by 542.4% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock worth $193,541,000 after purchasing an additional 1,927,234 shares in the last quarter. Finally, Nomura Holdings Inc. purchased a new position in shares of American Electric Power in the 4th quarter valued at about $175,667,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Stock Performance

NASDAQ AEP opened at $104.17 on Monday. The firm has a market cap of $54.91 billion, a P/E ratio of 19.33, a P/E/G ratio of 2.95 and a beta of 0.54. American Electric Power Company, Inc. has a 52-week low of $69.38 and a 52-week high of $104.41. The business’s 50-day moving average price is $97.39 and its 200 day moving average price is $90.40. 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 (NASDAQ:AEP) last announced its earnings results 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 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 period last year, the business posted $1.13 EPS. The company’s revenue was up 4.5% on a year-over-year basis. On average, equities research analysts expect that American Electric Power Company, Inc. will post 5.59 earnings per share for the current year.

American Electric Power Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.52 dividend on an annualized basis and a yield of 3.38%. American Electric Power’s payout ratio is currently 65.31%.

Analysts Set New Price Targets

A number of analysts recently weighed in on AEP shares. Scotiabank upped their target price on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. LADENBURG THALM/SH SH raised shares of American Electric Power from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $73.00 to $86.00 in a report on Thursday, June 6th. Morgan Stanley increased their target price 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. Bank of America boosted their price target 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. Finally, Guggenheim raised their price objective 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 issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, American Electric Power currently has an average rating of “Hold” and an average price target of $95.15.

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.