Summit Financial Strategies Inc. Sells 100 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Summit Financial Strategies Inc. decreased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 2.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,928 shares of the company’s stock after selling 100 shares during the period. Summit Financial Strategies Inc.’s holdings in American Electric Power were worth $506,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. HHM Wealth Advisors LLC grew its position 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 acquiring an additional 103 shares during the last quarter. Denali Advisors LLC bought a new position in shares of American Electric Power in the 1st quarter worth $26,000. Rise Advisors LLC bought a new position in American Electric Power during the 1st quarter valued at $27,000. LRI Investments LLC increased its position in shares of American Electric Power by 935.9% during the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock valued at $35,000 after purchasing an additional 365 shares during the last quarter. Finally, Briaud Financial Planning Inc increased its position in shares of American Electric Power by 52.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock valued at $38,000 after purchasing an additional 150 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

American Electric Power Trading Down 0.2 %

AEP traded down $0.18 during trading on Thursday, hitting $101.14. 313,042 shares of the stock were exchanged, compared to its average volume of 3,131,142. The firm has a 50 day simple moving average of $100.31 and a 200 day simple moving average of $93.12. The firm has a market cap of $53.31 billion, a price-to-earnings ratio of 18.80, a P/E/G ratio of 2.79 and a beta of 0.54. American Electric Power Company, Inc. has a 1 year low of $72.01 and a 1 year 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 issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.02. The business had revenue of $4.60 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.13 EPS. As a group, equities analysts expect that American Electric Power Company, Inc. will post 5.6 EPS for the current year.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.52 annualized dividend and a yield of 3.48%. American Electric Power’s dividend payout ratio (DPR) is currently 65.31%.

Analysts Set New Price Targets

AEP has been the subject of several research analyst reports. Guggenheim raised their target price on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Morgan Stanley raised their target price on American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Wells Fargo & Company lifted their price target on American Electric Power from $98.00 to $104.00 and gave the company an “equal weight” rating in a research report on Wednesday. Bank of America boosted their target price on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Finally, Jefferies Financial Group assumed coverage on American Electric Power in a research report on Friday, September 20th. They issued a “hold” rating and a $107.00 target price for the company. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $98.14.

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.