Harwood Advisory Group LLC Has $2.81 Million Stock Holdings in American Electric Power Company Inc (NYSE:AEP)

Harwood Advisory Group LLC raised its holdings in American Electric Power Company Inc (NYSE:AEP) by 1.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,929 shares of the utilities provider’s stock after purchasing an additional 579 shares during the quarter. Harwood Advisory Group LLC’s holdings in American Electric Power were worth $2,810,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of AEP. Dimensional Fund Advisors LP boosted its stake in shares of American Electric Power by 6.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 954,396 shares of the utilities provider’s stock valued at $71,331,000 after buying an additional 58,389 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of American Electric Power by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 5,942,257 shares of the utilities provider’s stock valued at $443,292,000 after buying an additional 438,632 shares during the last quarter. USS Investment Management Ltd purchased a new position in shares of American Electric Power during the 1st quarter valued at approximately $31,189,000. Pennsylvania Trust Co boosted its stake in shares of American Electric Power by 3.3% during the 1st quarter. Pennsylvania Trust Co now owns 5,961 shares of the utilities provider’s stock valued at $499,000 after buying an additional 190 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of American Electric Power during the 1st quarter valued at approximately $2,900,000. 74.54% of the stock is currently owned by hedge funds and other institutional investors.

Shares of AEP stock traded down $1.39 on Friday, hitting $89.58. 1,579,957 shares of the stock traded hands, compared to its average volume of 2,266,558. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.49 and a quick ratio of 0.36. The company has a market capitalization of $44.92 billion, a PE ratio of 22.68, a PEG ratio of 3.89 and a beta of 0.13. American Electric Power Company Inc has a 1-year low of $68.92 and a 1-year high of $91.99. The company’s fifty day moving average is $89.88 and its 200 day moving average is $86.00.

American Electric Power (NYSE:AEP) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.02. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $4.13 billion. American Electric Power had a return on equity of 10.69% and a net margin of 12.53%. The business’s revenue was down 10.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.01 EPS. As a group, equities research analysts expect that American Electric Power Company Inc will post 4.13 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Thursday, August 8th. American Electric Power’s dividend payout ratio is currently 67.85%.

Several equities analysts have recently commented on the company. Bank of America reiterated a “buy” rating and set a $98.00 target price (up from $93.00) on shares of American Electric Power in a research note on Tuesday, July 9th. Zacks Investment Research upgraded American Electric Power from a “sell” rating to a “hold” rating and set a $96.00 target price for the company in a research note on Thursday, July 11th. UBS Group increased their target price on American Electric Power from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Morgan Stanley reduced their target price on American Electric Power from $93.00 to $91.00 and set an “equal weight” rating for the company in a research note on Friday, August 16th. Finally, SunTrust Banks increased their target price on American Electric Power from $98.00 to $99.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $88.33.

In related news, insider Lisa M. Barton sold 1,752 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $89.41, for a total transaction of $156,646.32. Following the sale, the insider now directly owns 34,460 shares of the company’s stock, valued at approximately $3,081,068.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Brian X. Tierney sold 4,458 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $89.73, for a total value of $400,016.34. Following the sale, the vice president now directly owns 39,745 shares in the company, valued at $3,566,318.85. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

Further Reading: Retained Earnings

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Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

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