McCarthy & Cox Sells 220 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

McCarthy & Cox trimmed its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 7.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,903 shares of the company’s stock after selling 220 shares during the quarter. McCarthy & Cox’s holdings in American Electric Power were worth $298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of AEP. Sunpointe LLC bought a new position in shares of American Electric Power during the fourth quarter valued at about $240,000. Scarborough Advisors LLC purchased a new stake in American Electric Power in the 4th quarter worth approximately $81,000. Teachers Retirement System of The State of Kentucky lifted its holdings in American Electric Power by 3.1% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 117,037 shares of the company’s stock worth $9,506,000 after buying an additional 3,572 shares during the period. Syon Capital LLC bought a new stake in shares of American Electric Power in the 4th quarter worth approximately $358,000. Finally, American International Group Inc. increased its stake in shares of American Electric Power by 1.8% during the fourth quarter. American International Group Inc. now owns 170,116 shares of the company’s stock valued at $13,817,000 after buying an additional 3,045 shares during the period. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Stock Up 1.1 %

Shares of NASDAQ AEP traded up $1.03 during midday trading on Friday, hitting $98.25. The stock had a trading volume of 1,849,142 shares, compared to its average volume of 3,150,735. The business’s 50 day moving average is $100.23 and its 200-day moving average is $92.82. American Electric Power Company, Inc. has a 52 week low of $72.01 and a 52 week 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. The company has a market cap of $52.28 billion, a P/E ratio of 19.57, a PEG ratio of 2.79 and a beta of 0.54.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $4.74 billion. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.13 EPS. As a group, analysts predict that American Electric Power Company, Inc. will post 5.6 EPS 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 given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date was Friday, August 9th. American Electric Power’s dividend payout ratio (DPR) is 70.12%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Morgan Stanley boosted their price target on shares of American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. BMO Capital Markets upped their target price on American Electric Power from $109.00 to $114.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Scotiabank raised their target price on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Jefferies Financial Group started coverage on American Electric Power in a research note on Friday, September 20th. They issued a “hold” rating and a $107.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price objective on American Electric Power from $101.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $96.79.

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.