American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC decreased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 1.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 669,150 shares of the company's stock after selling 8,800 shares during the period. Gabelli Funds LLC owned 0.13% of American Electric Power worth $58,711,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. HHM Wealth Advisors LLC boosted its position in American Electric Power by 57.2% during the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company's stock valued at $25,000 after purchasing an additional 103 shares in the last quarter. Denali Advisors LLC bought a new stake in shares of American Electric Power in the 1st quarter valued at about $26,000. Rise Advisors LLC purchased a new position in shares of American Electric Power in the 1st quarter worth approximately $27,000. YHB Investment Advisors Inc. bought a new position in shares of American Electric Power during the 1st quarter worth approximately $29,000. Finally, LRI Investments LLC raised its stake 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 worth $35,000 after acquiring an additional 365 shares in the last quarter. Institutional investors own 75.24% of the company's stock.

American Electric Power Stock Performance

Shares of NASDAQ:AEP traded up $0.41 during midday trading on Friday, reaching $102.15. The company's stock had a trading volume of 5,395,288 shares, compared to its average volume of 3,212,766. The firm has a market capitalization of $53.85 billion, a PE ratio of 18.95, a P/E/G ratio of 2.95 and a beta of 0.54. The stock has a fifty day moving average of $98.82 and a 200 day moving average of $91.01. American Electric Power Company, Inc. has a twelve month low of $69.38 and a twelve month high of $105.18. 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 - Get Free Report) last posted its earnings results on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.23 by $0.02. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same period last year, the company earned $1.13 earnings per share. American Electric Power's revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities analysts expect that American Electric Power Company, Inc. will post 5.59 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend was Friday, August 9th. American Electric Power's payout ratio is 65.31%.

Analyst Ratings Changes

Several research firms have issued reports on AEP. LADENBURG THALM/SH SH raised shares of American Electric Power from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $73.00 to $86.00 in a report on Thursday, June 6th. 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 note on Tuesday, August 20th. Morgan Stanley increased their price target on American Electric Power from $95.00 to $102.00 and gave the company an "overweight" rating in a research note on Friday, August 23rd. Guggenheim boosted their price target on American Electric Power from $81.00 to $83.00 and gave the stock a "neutral" rating in a research note on Monday, July 22nd. Finally, BMO Capital Markets upped their price objective on shares of American Electric Power from $105.00 to $109.00 and gave the company an "outperform" rating in a report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $96.00.

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.