Cobblestone Capital Advisors LLC NY cut its holdings in American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) 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 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.
Check Out Our Latest Report on American Electric Power
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.
Featured Stories
- Five stocks we like better than American Electric Power
- Insider Buying Explained: What Investors Need to Know
- Is Merck Stock Undervalued After Its Colossal Earnings Growth?
- Top Stocks Investing in 5G Technology
- Top 5 ETFs for Every Investor: From Semiconductors to Defense
- The Basics of Support and Resistance
- Blade Air Mobility: This Under-the-Radar Stock Could Double Soon
Want to see what other hedge funds are holding AEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Electric Power Company, Inc. (NASDAQ:AEP – Free Report).
Receive News & Ratings for American Electric Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Electric Power and related companies with MarketBeat.com's FREE daily email newsletter.