Pacific Center for Financial Services maintained its position in shares of American Electric Power Company, Inc. (NYSE:AEP) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,175 shares of the utilities provider’s stock at the end of the first quarter. Pacific Center for Financial Services’ holdings in American Electric Power were worth $146,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of AEP. Vanguard Group Inc. boosted its stake in American Electric Power by 3.4% in the first quarter. Vanguard Group Inc. now owns 34,128,589 shares of the utilities provider’s stock valued at $2,291,051,000 after buying an additional 1,124,366 shares during the last quarter. BlackRock Inc. boosted its stake in American Electric Power by 2,394.3% in the first quarter. BlackRock Inc. now owns 33,819,821 shares of the utilities provider’s stock valued at $2,270,326,000 after buying an additional 32,463,953 shares during the period. State Street Corp boosted its stake in American Electric Power by 0.6% in the first quarter. State Street Corp now owns 25,061,133 shares of the utilities provider’s stock valued at $1,682,343,000 after buying an additional 153,485 shares during the period. Wells Fargo & Company MN boosted its stake in American Electric Power by 16.2% in the first quarter. Wells Fargo & Company MN now owns 7,668,864 shares of the utilities provider’s stock valued at $514,810,000 after buying an additional 1,069,388 shares during the period. Finally, Pioneer Investment Management Inc. boosted its stake in American Electric Power by 14.2% in the first quarter. Pioneer Investment Management Inc. now owns 4,719,353 shares of the utilities provider’s stock valued at $316,810,000 after buying an additional 585,220 shares during the period. 70.54% of the stock is currently owned by hedge funds and other institutional investors.
Shares of American Electric Power Company, Inc. (AEP) traded up 0.17% during trading on Wednesday, hitting $70.74. The stock had a trading volume of 911,956 shares. The firm has a 50 day moving average price of $70.10 and a 200 day moving average price of $67.73. American Electric Power Company, Inc. has a 12-month low of $57.89 and a 12-month high of $72.97. The firm has a market cap of $34.79 billion, a P/E ratio of 60.88 and a beta of 0.30.
American Electric Power (NYSE:AEP) last announced its earnings results on Thursday, July 27th. The utilities provider reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by $0.07. American Electric Power had a net margin of 3.60% and a return on equity of 10.32%. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same period in the previous year, the company posted $0.95 earnings per share. On average, equities analysts expect that American Electric Power Company, Inc. will post $3.66 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 10th will be paid a dividend of $0.59 per share. The ex-dividend date is Tuesday, August 8th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.34%. American Electric Power’s dividend payout ratio (DPR) is 203.45%.
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Several research firms have weighed in on AEP. Zacks Investment Research upgraded American Electric Power from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. BidaskClub upgraded American Electric Power from a “sell” rating to a “hold” rating in a research note on Monday. Royal Bank Of Canada restated a “hold” rating and issued a $71.00 target price on shares of American Electric Power in a research note on Wednesday. BMO Capital Markets restated an “outperform” rating and issued a $75.00 target price (up previously from $73.00) on shares of American Electric Power in a research note on Friday, July 28th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $70.00 price objective on shares of American Electric Power in a research note on Wednesday, July 19th. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. American Electric Power currently has an average rating of “Hold” and an average price target of $72.09.
In other American Electric Power news, insider Paul Chodak III sold 1,110 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $68.20, for a total transaction of $75,702.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.15% of the company’s stock.
American Electric Power Company Profile
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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