Pekin Hardy Strauss Inc. Reduces Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Pekin Hardy Strauss Inc. reduced its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 12.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,379 shares of the company’s stock after selling 1,200 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in American Electric Power were worth $735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the business. HHM Wealth Advisors LLC grew its holdings in American Electric Power by 57.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after buying an additional 103 shares in the last quarter. Denali Advisors LLC bought a new position in shares of American Electric Power in the first quarter valued at approximately $26,000. Rise Advisors LLC purchased a new position in American Electric Power during the first quarter valued at approximately $27,000. Frazier Financial Advisors LLC bought a new stake in American Electric Power during the 4th quarter worth approximately $26,000. Finally, YHB Investment Advisors Inc. purchased a new stake in American Electric Power in the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

Shares of American Electric Power stock opened at $104.21 on Wednesday. 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 Company, Inc. has a 52-week low of $69.38 and a 52-week high of $105.18. The company has a fifty day moving average of $98.07 and a 200-day moving average of $90.67. The stock 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.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings results 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 analyst estimates of $4.74 billion. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The company’s revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.13 earnings per share. Equities research 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. Shareholders of record on Friday, August 9th were given a $0.88 dividend. The ex-dividend date was Friday, August 9th. This represents a $3.52 annualized dividend and a yield of 3.38%. American Electric Power’s payout ratio is currently 65.31%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Guggenheim boosted their price target on shares of American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Scotiabank boosted their target price on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Bank of America raised their price target on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Morgan Stanley boosted their price objective on American Electric Power from $95.00 to $102.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Finally, LADENBURG THALM/SH SH raised shares of 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 research note on Thursday, June 6th. Two equities research 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 MarketBeat, the stock has an average rating of “Hold” and an average price target 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.