Slocum Gordon & Co LLP Sells 335 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Slocum Gordon & Co LLP cut its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 73,567 shares of the company’s stock after selling 335 shares during the quarter. American Electric Power makes up about 4.8% of Slocum Gordon & Co LLP’s holdings, making the stock its 7th biggest position. Slocum Gordon & Co LLP’s holdings in American Electric Power were worth $6,455,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Frazier Financial Advisors LLC acquired a new stake in American Electric Power in the 4th quarter worth $26,000. Denali Advisors LLC acquired a new stake in American Electric Power in the 1st quarter worth $26,000. Rise Advisors LLC acquired a new stake in American Electric Power in the 1st quarter worth $27,000. YHB Investment Advisors Inc. acquired a new stake in American Electric Power in the 1st quarter worth $29,000. Finally, LRI Investments LLC grew its position in American Electric Power by 935.9% in the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after purchasing an additional 365 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on AEP. JPMorgan Chase & Co. raised their price target on shares of American Electric Power from $101.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Guggenheim raised their price objective on shares of American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Bank of America raised their price objective on shares of American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Barclays raised their price objective on shares of American Electric Power from $91.00 to $96.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Finally, Scotiabank raised their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Two equities 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 company. According to data from MarketBeat.com, American Electric Power presently has a consensus rating of “Hold” and a consensus price target of $94.77.

American Electric Power Trading Down 0.1 %

Shares of AEP stock opened at $103.03 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 capitalization of $54.31 billion, a P/E ratio of 19.13, a P/E/G ratio of 2.87 and a beta of 0.54. The firm has a 50-day moving average price of $95.52 and a 200 day moving average price of $89.41. 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 earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The company had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the previous year, the firm posted $1.13 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. Research analysts forecast that American Electric Power Company, Inc. will post 5.59 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Friday, August 9th. American Electric Power’s dividend payout ratio is presently 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.