Abner Herrman & Brock LLC Reduces Stake in American Electric Power Company Inc (NYSE:AEP)

Abner Herrman & Brock LLC lowered its holdings in American Electric Power Company Inc (NYSE:AEP) by 3.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 4,459 shares of the utilities provider’s stock after selling 180 shares during the quarter. Abner Herrman & Brock LLC’s holdings in American Electric Power were worth $418,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AEP. IMA Wealth Inc. acquired a new stake in American Electric Power during the 2nd quarter worth approximately $30,000. JJJ Advisors Inc. acquired a new stake in American Electric Power during the 2nd quarter worth approximately $31,000. Weaver Consulting Group acquired a new stake in American Electric Power during the 1st quarter worth approximately $32,000. Tarbox Family Office Inc. lifted its position in American Electric Power by 38.9% during the 2nd quarter. Tarbox Family Office Inc. now owns 436 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 122 shares during the period. Finally, Kings Point Capital Management acquired a new stake in American Electric Power during the 2nd quarter worth approximately $39,000. Institutional investors and hedge funds own 73.76% of the company’s stock.

In related news, VP Brian X. Tierney sold 4,458 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $89.73, for a total value of $400,016.34. Following the completion of the transaction, the vice president now directly owns 39,745 shares of the company’s stock, valued at approximately $3,566,318.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charles E. Zebula sold 1,216 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $90.98, for a total value of $110,631.68. Following the completion of the transaction, the insider now directly owns 7,420 shares of the company’s stock, valued at $675,071.60. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

AEP has been the subject of a number of recent research reports. ValuEngine cut American Electric Power from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Bank of America reaffirmed a “buy” rating and set a $98.00 price objective (up from $93.00) on shares of American Electric Power in a research report on Tuesday, July 9th. SunTrust Banks increased their price objective on American Electric Power from $98.00 to $99.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Mizuho increased their price objective on American Electric Power from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Finally, Zacks Investment Research raised American Electric Power from a “sell” rating to a “hold” rating and set a $96.00 price objective for the company in a research report on Thursday, July 11th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. American Electric Power presently has an average rating of “Buy” and an average price target of $92.45.

Shares of AEP stock traded up $0.11 during trading hours on Friday, reaching $92.72. 75,030 shares of the company’s stock were exchanged, compared to its average volume of 2,438,040. The company has a market cap of $45.71 billion, a P/E ratio of 23.48, a price-to-earnings-growth ratio of 3.96 and a beta of 0.09. The company’s 50 day moving average is $92.21 and its two-hundred day moving average is $88.59. American Electric Power Company Inc has a 1 year low of $70.31 and a 1 year high of $94.89. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.49 and a quick ratio of 0.36.

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

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.

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

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