LS Investment Advisors LLC increased its stake in American Electric Power Company, Inc. (NYSE:AEP) by 2.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,127 shares of the utilities provider’s stock after buying an additional 1,055 shares during the period. LS Investment Advisors LLC’s holdings in American Electric Power were worth $3,066,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in AEP. Jackson Grant Investment Advisers Inc. raised its stake in shares of American Electric Power by 0.5% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 2,799 shares of the utilities provider’s stock valued at $176,000 after buying an additional 14 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of American Electric Power by 4.7% in the fourth quarter. Teachers Advisors LLC now owns 1,255,641 shares of the utilities provider’s stock valued at $79,055,000 after buying an additional 56,004 shares in the last quarter. Kentucky Retirement Systems bought a new stake in shares of American Electric Power during the fourth quarter valued at approximately $2,246,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of American Electric Power during the fourth quarter valued at approximately $1,002,000. Finally, Macquarie Group Ltd. raised its stake in shares of American Electric Power by 17.2% in the fourth quarter. Macquarie Group Ltd. now owns 545,874 shares of the utilities provider’s stock valued at $34,368,000 after buying an additional 80,008 shares in the last quarter. 70.50% of the stock is currently owned by institutional investors and hedge funds.
Shares of American Electric Power Company, Inc. (AEP) opened at 68.70 on Friday. American Electric Power Company, Inc. has a 52-week low of $57.89 and a 52-week high of $72.97. The company has a market cap of $33.78 billion, a price-to-earnings ratio of 48.18 and a beta of 0.30. The stock has a 50 day moving average of $70.60 and a 200 day moving average of $67.29.
American Electric Power (NYSE:AEP) last posted its quarterly earnings data on Thursday, April 27th. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by $0.01. The business had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.85 billion. American Electric Power had a return on equity of 10.78% and a net margin of 4.31%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.02 EPS. On average, equities research analysts expect that American Electric Power Company, Inc. will post $3.66 EPS for the current year.
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AEP has been the topic of several research reports. Deutsche Bank AG lifted their price objective on shares of American Electric Power from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Tuesday, April 11th. Mizuho reaffirmed a “buy” rating and issued a $72.50 price objective on shares of American Electric Power in a research report on Wednesday, April 19th. Barclays PLC reaffirmed an “overweight” rating and issued a $76.00 price objective (up previously from $71.00) on shares of American Electric Power in a research report on Sunday, April 23rd. Zacks Investment Research lowered shares of American Electric Power from a “hold” rating to a “sell” rating in a research report on Friday, April 28th. Finally, Jefferies Group LLC lifted their price objective on shares of American Electric Power from $68.00 to $70.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. American Electric Power currently has an average rating of “Hold” and a consensus price target of $71.73.
In related news, insider Paul Chodak III sold 1,110 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $68.20, for a total value of $75,702.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.15% of the company’s stock.
About American Electric Power
American Electric Power Company, Inc (AEP) is a public utility holding company that owns, directly or indirectly, all of the outstanding common stock of its public utility subsidiaries and varying percentages of other subsidiaries. The service areas of the Company’s public utility subsidiaries cover the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.
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