Excalibur Management Corp Acquires 507 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Excalibur Management Corp grew its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 15.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 3,782 shares of the company’s stock after buying an additional 507 shares during the quarter. Excalibur Management Corp’s holdings in American Electric Power were worth $332,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in AEP. Vanguard Group Inc. lifted its holdings in American Electric Power by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 49,630,436 shares of the company’s stock worth $4,273,181,000 after purchasing an additional 405,114 shares during the last quarter. Lazard Asset Management LLC raised its position 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. lifted 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 buying an additional 35,769 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of 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 buying an additional 1,927,234 shares during the period. Finally, Nomura Holdings Inc. acquired a new position in American Electric Power in the 4th quarter valued at $175,667,000. Institutional investors own 75.24% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on AEP shares. Bank of America boosted their target price on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. increased their target price on American Electric Power from $101.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Barclays lifted their price target on American Electric Power from $91.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. BMO Capital Markets raised their price objective on shares of American Electric Power from $105.00 to $109.00 and gave the stock an “outperform” rating in a research note on Monday, September 9th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $95.15.

American Electric Power Price Performance

Shares of American Electric Power stock opened at $104.95 on Tuesday. The firm has a market cap of $55.32 billion, a P/E ratio of 19.47, a price-to-earnings-growth ratio of 2.95 and a beta of 0.54. The firm’s 50-day simple moving average is $97.74 and its 200-day simple moving average is $90.54. American Electric Power Company, Inc. has a twelve month low of $69.38 and a twelve month high of $105.18. 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 (NASDAQ:AEP) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.02. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.74 billion. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.13 earnings per share. As a group, research analysts expect 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 announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a $0.88 dividend. The ex-dividend date was Friday, August 9th. This represents a $3.52 annualized dividend and a dividend yield of 3.35%. American Electric Power’s dividend payout ratio is presently 65.31%.

About American Electric Power

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.