Moors & Cabot Inc. Cuts Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Moors & Cabot Inc. decreased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 1.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,165 shares of the company’s stock after selling 222 shares during the period. Moors & Cabot Inc.’s holdings in American Electric Power were worth $1,506,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in American Electric Power by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 49,630,436 shares of the company’s stock valued at $4,273,181,000 after purchasing an additional 405,114 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of 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 last quarter. Envestnet Asset Management Inc. increased its position in shares of American Electric Power by 1.1% during the second quarter. Envestnet Asset Management Inc. now owns 3,378,543 shares of the company’s stock valued at $296,433,000 after acquiring an additional 35,769 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in American Electric Power by 542.4% in the 1st 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 last quarter. Finally, Nomura Holdings Inc. bought a new position in American Electric Power in the 4th quarter valued at approximately $175,667,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Trading Down 0.7 %

NASDAQ:AEP opened at $104.21 on Wednesday. The firm has a market capitalization of $54.93 billion, a price-to-earnings ratio of 19.33, a price-to-earnings-growth ratio of 2.95 and a beta of 0.54. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.48. The business has a fifty day moving average price of $98.07 and a 200-day moving average price of $90.67. American Electric Power Company, Inc. has a one year low of $69.38 and a one year high of $105.18.

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 the consensus estimate of $1.23 by $0.02. The firm had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.74 billion. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.13 earnings per share. Sell-side analysts forecast that American Electric Power Company, Inc. will post 5.59 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. Stockholders of record on Friday, August 9th were paid a $0.88 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.38%. American Electric Power’s dividend payout ratio (DPR) is presently 65.31%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. BMO Capital Markets boosted their price target on American Electric Power from $105.00 to $109.00 and gave the stock an “outperform” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. upped their target price 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. Guggenheim lifted their price target on shares of American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Bank of America increased 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. Finally, Morgan Stanley lifted their target price on shares of American Electric Power from $95.00 to $102.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. 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. Based on data from MarketBeat.com, American Electric Power currently has an average rating of “Hold” and an average target price of $95.15.

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.