Beverly Hills Private Wealth LLC Has $424,000 Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Beverly Hills Private Wealth LLC cut its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 9.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,828 shares of the company’s stock after selling 489 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in American Electric Power were worth $424,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of AEP. HHM Wealth Advisors LLC grew its stake in American Electric Power by 57.2% in the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after purchasing an additional 103 shares in the last quarter. Frazier Financial Advisors LLC purchased a new stake in shares of American Electric Power during the 4th quarter worth about $26,000. Denali Advisors LLC acquired a new stake in shares of American Electric Power during the 1st quarter valued at about $26,000. Rise Advisors LLC bought a new stake in shares of American Electric Power in the 1st quarter valued at approximately $27,000. Finally, YHB Investment Advisors Inc. acquired a new position in American Electric Power in the first quarter worth approximately $29,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Stock Performance

Shares of NASDAQ AEP opened at $102.99 on Friday. American Electric Power Company, Inc. has a 12 month low of $69.38 and a 12 month high of $104.41. The company has a market cap of $54.29 billion, a P/E ratio of 19.11, a P/E/G ratio of 2.92 and a beta of 0.54. The business’s 50 day moving average is $97.06 and its two-hundred day moving average is $90.14. 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 quarterly earnings data on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.02. The business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.74 billion. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. American Electric Power’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the company posted $1.13 earnings per share. On average, equities analysts expect that American Electric Power Company, Inc. will post 5.59 EPS for the current year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date was Friday, August 9th. American Electric Power’s dividend payout ratio is currently 65.31%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AEP. Guggenheim lifted their target price on shares of American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. lifted their price objective on shares of American Electric Power from $101.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Morgan Stanley upped their price objective on shares of American Electric Power from $95.00 to $102.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. LADENBURG THALM/SH SH upgraded American Electric Power from a “sell” rating to a “neutral” rating and raised their target price for the company from $73.00 to $86.00 in a report on Thursday, June 6th. Finally, Barclays boosted 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. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $95.15.

American Electric Power Company 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.