Flagship Harbor Advisors LLC, a well-known institutional investor, recently announced a reduction in its position in American Electric Power Company, Inc. (NASDAQ:AEP). According to the company’s 13F filing with the Securities & Exchange Commission for the second quarter, Flagship Harbor Advisors LLC sold 1,551 shares of AEP during that time period. As a result, their holdings in American Electric Power have decreased by 15.7%. Currently, they own 8,341 shares of the company’s stock, which are valued at approximately $702,000 based on their most recent SEC filing.
This news comes after American Electric Power released its quarterly earnings results on July 27th of this year. The company reported earnings per share (EPS) of $1.13 for the quarter, falling short of analysts’ consensus estimates by ($0.01). Additionally, their revenue for the quarter was $4.37 billion, which is lower than analysts’ expectations of $4.70 billion.
American Electric Power had a net margin of 10.20% and a return on equity of 10.44% during this period. However, it is worth noting that their revenue decreased by 5.8% compared to the same quarter last year when they posted EPS of $1.20.
Despite these setbacks, sell-side analysts remain optimistic about American Electric Power’s future performance. They anticipate that the company will post an EPS of 5.26 for the current year.
Investors and industry experts are keeping a close eye on American Electric Power as it navigates these challenges and works towards long-term growth and profitability. The energy sector is constantly evolving and facing various economic factors that can impact performance.
For those interested in further research on American Electric Power Company, Inc., our latest research report on AEP provides comprehensive analysis and insights into the company’s financials and market outlook. It offers valuable information for investors and stakeholders looking to make informed decisions in the energy sector.
As of September 19, 2023, the current state of American Electric Power and its stock performance continues to be closely monitored by investors, industry professionals, and analysts alike.
Robert Half International Inc.
Updated on: 29/09/2023
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
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Robert W. Baird
Robert W. Baird
Robert W. Baird
Large Investors Show Increasing Interest in American Electric Power (AEP) as it Gains Favorable Ratings from Analysts
In recent months, there has been significant activity among large investors in American Electric Power (AEP). Fairfield Bush & CO. made a notable move in the first quarter by acquiring a new stake in the company worth $40,000. Similarly, Westwood Holdings Group Inc. also purchased a new stake in AEP during the same period, amounting to around $211,000.
Cibc World Market Inc., on the other hand, decided to increase its position in AEP by 13.1% during the first quarter. The company now holds 30,809 shares of AEP’s stock valued at approximately $3,074,000 after purchasing an additional 3,558 shares during the last quarter. Sei Investments Co. also joined this trend and lifted its stake in AEP by 17.7% in the first quarter. They currently own 205,440 shares of the company’s stock with an estimated value of $20,569,000.
Adding to this parade of investors is Cetera Investment Advisers who boosted its holdings in American Electric Power by 1.6% during the first quarter as well. Cetera Investment Advisers now possesses 36,515 shares of AEP’s stock valued at approximately $3,643,000 after acquiring an additional 577 shares.
It is worth noting that institutional investors and hedge funds hold a substantial portion of American Electric Power’s stock—around 74.68% to be exact.
Shares of NASDAQ:AEP began trading at $80.23 on Tuesday with an average price of $81.57 over the past 50 days and $85.71 for the past 200 days as recorded on September 19th, 2023.
American Electric Power Company Inc., known for operating within the electricity utility sector has had an all-time low point of $75.47 and reached a peak of $101.15 in the last 12 months.
Assessing the company’s financial health, American Electric Power has a current ratio of 0.61 and a quick ratio of 0.48. Furthermore, it maintains a debt-to-equity ratio of 1.52. With a market capitalization of $41.33 billion, a price-to-earnings (P/E) ratio of 20.78, and a PEG (price/earnings to growth) ratio of 2.73, AEP appears to be an intriguing investment opportunity with relatively low beta of 0.46.
The most recent development regarding American Electric Power is its quarterly dividend disclosure. Stockholders were paid a $0.83 dividend on September 8th with August 10th as the record date for eligibility to receive the distribution. On an annualized basis, this translates to a $3.32 dividend and equates to a dividend yield of approximately 4.14%. Presently, AEP’s payout ratio stands at an impressive rate of 86.01%.
In terms of analyst coverage on American Electric Power (AEP), UBS Group recently downgraded its rating on the stock from “buy” to “neutral” while simultaneously reducing their target price from $105.00 to $92.00 in early June.
Similarly, Morgan Stanley decreased its price objective on AEP from $101.00 to $95.00 but maintained an “overweight” rating on the stock in late August.
Barclays, however, initiated coverage on shares of AEP with an “overweight” rating and set a target price of $88.00 per share at the end of that same month.
Cfra also decreased their price target on AEP but maintained a positive stance by setting it at $94.00 per share while designating the stock as a “buy.”
In light of these varying opinions, it is worthwhile to mention that StockNews.com recently upgraded AEP from a “sell” rating to a “hold,” adding an alternate viewpoint in the mix.
Currently, Bloomberg’s data indicates that American Electric Power holds a consensus rating of “Moderate Buy” among analysts, with an average target price of $94.83 per share. As always, investors are encouraged to perform their own research and analysis to make informed decisions when it comes to investments.