Gilman Hill Asset Management LLC Reduces Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Gilman Hill Asset Management LLC reduced its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 4.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,085 shares of the company’s stock after selling 135 shares during the period. Gilman Hill Asset Management LLC’s holdings in American Electric Power were worth $317,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Hodges Capital Management Inc. purchased a new position in American Electric Power during the first quarter worth $1,615,000. Quantbot Technologies LP purchased a new position in American Electric Power during the first quarter worth $1,731,000. Nordea Investment Management AB increased its position in American Electric Power by 381.9% during the first quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock worth $171,127,000 after buying an additional 1,581,734 shares in the last quarter. Mizuho Markets Americas LLC increased its position in American Electric Power by 646.9% during the first quarter. Mizuho Markets Americas LLC now owns 261,440 shares of the company’s stock worth $22,510,000 after buying an additional 226,435 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in American Electric Power by 21.7% during the first quarter. ProShare Advisors LLC now owns 582,692 shares of the company’s stock worth $50,170,000 after buying an additional 103,771 shares in the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Price Performance

AEP stock opened at $98.25 on Monday. The stock has a 50-day moving average price of $100.23 and a two-hundred day moving average price of $92.88. American Electric Power Company, Inc. has a 12-month low of $72.01 and a 12-month high of $105.18. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53. The company has a market cap of $51.79 billion, a PE ratio of 18.23, a price-to-earnings-growth ratio of 2.79 and a beta of 0.54.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the previous year, the business earned $1.13 earnings per share. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, research analysts predict that American Electric Power Company, Inc. will post 5.6 EPS for the current year.

American Electric Power Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend was Friday, August 9th. American Electric Power’s payout ratio is 65.31%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AEP. JPMorgan Chase & Co. raised their price target on American Electric Power from $101.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. 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. Jefferies Financial Group began coverage on American Electric Power in a report on Friday, September 20th. They set a “hold” rating and a $107.00 price objective on the stock. BMO Capital Markets raised their price objective on American Electric Power from $109.00 to $114.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. 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 equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, American Electric Power has a consensus rating of “Hold” and a consensus target price of $96.79.

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.