Cobblestone Capital Advisors LLC NY Has $406,000 Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Cobblestone Capital Advisors LLC NY cut its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 4.2% during the second quarter, Holdings Channel.com reports. The firm owned 4,626 shares of the company’s stock after selling 204 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in American Electric Power were worth $406,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AEP. Frazier Financial Advisors LLC acquired a new position in American Electric Power during the fourth quarter valued at approximately $26,000. Denali Advisors LLC bought a new stake in shares of American Electric Power during the 1st quarter worth approximately $26,000. Rise Advisors LLC bought a new stake in shares of American Electric Power during the 1st quarter worth approximately $27,000. YHB Investment Advisors Inc. acquired a new stake in shares of American Electric Power in the 1st quarter valued at approximately $29,000. Finally, LRI Investments LLC grew its stake in shares of American Electric Power by 935.9% in the second quarter. LRI Investments LLC now owns 404 shares of the company’s stock valued at $35,000 after buying an additional 365 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Trading Down 1.0 %

NASDAQ AEP traded down $1.05 on Friday, hitting $102.05. The company’s stock had a trading volume of 3,659,214 shares, compared to its average volume of 3,243,136. The firm has a market cap of $53.79 billion, a PE ratio of 18.93, a PEG ratio of 2.87 and a beta of 0.54. The company’s 50-day moving average is $95.80 and its 200 day moving average is $89.55. 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 1-year low of $69.38 and a 1-year high of $104.41.

American Electric Power (NASDAQ:AEP) last posted 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 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 analyst estimates of $4.74 billion. During the same period in the previous year, the firm earned $1.13 earnings per share. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. As a group, analysts predict that American Electric Power Company, Inc. will post 5.59 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be given a dividend of $0.88 per share. The ex-dividend date is Friday, August 9th. This represents a $3.52 annualized dividend and a dividend yield of 3.45%. American Electric Power’s payout ratio is 65.31%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AEP. Bank of America lifted their price objective 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. LADENBURG THALM/SH SH raised American Electric Power from a “sell” rating to a “neutral” rating and upped their price objective for the company from $73.00 to $86.00 in a report on Thursday, June 6th. JPMorgan Chase & Co. raised their target price on shares of American Electric Power from $101.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. BMO Capital Markets raised their price target on American Electric Power from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Finally, Morgan Stanley boosted their price objective 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. Two 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 company. According to MarketBeat, American Electric Power currently has a consensus rating of “Hold” and a consensus target price of $94.77.

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.