Sierra Summit Advisors LLC Grows Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Sierra Summit Advisors LLC lifted its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 18.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,918 shares of the company’s stock after purchasing an additional 755 shares during the quarter. Sierra Summit Advisors LLC’s holdings in American Electric Power were worth $432,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of American Electric Power by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 49,630,436 shares of the company’s stock worth $4,273,181,000 after purchasing an additional 405,114 shares during the period. Lazard Asset Management LLC grew its position in American Electric Power by 9.9% during the first quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company’s stock valued at $739,303,000 after buying an additional 776,965 shares during the period. Envestnet Asset Management Inc. raised its position in shares of American Electric Power by 1.1% in the second quarter. Envestnet Asset Management Inc. now owns 3,378,543 shares of the company’s stock worth $296,433,000 after acquiring an additional 35,769 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of American Electric Power by 542.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock worth $193,541,000 after acquiring an additional 1,927,234 shares during the period. Finally, Nomura Holdings Inc. purchased a new stake in shares of American Electric Power during the 4th quarter worth about $175,667,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AEP. Scotiabank upped their price target on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Bank of America lifted their price target on shares of American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Guggenheim upped their price objective on shares of American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. BMO Capital Markets lifted their target price on shares of American Electric Power from $105.00 to $109.00 and gave the company an “outperform” rating in a research report on Monday, September 9th. Finally, Barclays upped their price target on shares of 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 research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $95.15.

American Electric Power Stock Up 1.1 %

NASDAQ AEP opened at $104.17 on Monday. 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 52 week low of $69.38 and a 52 week high of $104.41. The business’s fifty day simple moving average is $97.39 and its 200-day simple moving average is $90.40. The firm has a market cap of $54.91 billion, a PE ratio of 19.33, a P/E/G ratio of 2.95 and a beta of 0.54.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. The company 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.13 earnings per share. As a group, equities analysts anticipate that American Electric Power Company, Inc. will post 5.59 earnings per share for the current year.

American Electric Power Dividend Announcement

The firm also recently announced 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 3.38%. American Electric Power’s dividend payout ratio (DPR) is 65.31%.

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.