Neville Rodie & Shaw Inc. continued to hold its position in shares of American Electric Power Company, Inc. (NYSE:AEP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,800 shares of the utilities provider’s stock at the end of the second quarter. Neville Rodie & Shaw Inc.’s holdings in American Electric Power were worth $403,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Point72 Asia Hong Kong Ltd acquired a new position in shares of American Electric Power during the first quarter worth about $105,000. Chicago Partners Investment Group LLC increased its position in shares of American Electric Power by 0.3% in the first quarter. Chicago Partners Investment Group LLC now owns 1,599 shares of the utilities provider’s stock worth $107,000 after buying an additional 5 shares during the period. Zions Bancorporation increased its position in shares of American Electric Power by 1.3% in the first quarter. Zions Bancorporation now owns 1,680 shares of the utilities provider’s stock worth $113,000 after buying an additional 21 shares during the period. Thompson Davis & CO. Inc. increased its position in shares of American Electric Power by 0.3% in the first quarter. Thompson Davis & CO. Inc. now owns 1,741 shares of the utilities provider’s stock worth $117,000 after buying an additional 6 shares during the period. Finally, Guardian Life Insurance Co. of America increased its position in shares of American Electric Power by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,897 shares of the utilities provider’s stock worth $127,000 after buying an additional 13 shares during the period. Hedge funds and other institutional investors own 70.54% of the company’s stock.
Shares of American Electric Power Company, Inc. (NYSE:AEP) traded down 0.45% during mid-day trading on Friday, reaching $70.88. The company had a trading volume of 1,879,494 shares. The stock has a market capitalization of $34.86 billion, a P/E ratio of 61.00 and a beta of 0.30. The firm has a 50 day moving average of $70.10 and a 200-day moving average of $67.73. American Electric Power Company, Inc. has a one year low of $57.89 and a one year high of $72.97.
American Electric Power (NYSE:AEP) last released its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the prior year, the firm posted $0.95 EPS. Analysts forecast that American Electric Power Company, Inc. will post $3.66 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 10th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Tuesday, August 8th. American Electric Power’s dividend payout ratio is presently 203.45%.
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A number of research analysts have issued reports on the company. Goldman Sachs Group, Inc. (The) downgraded American Electric Power from a “buy” rating to a “neutral” rating and upped their price objective for the company from $68.00 to $70.00 in a research note on Monday, June 26th. Royal Bank Of Canada restated a “hold” rating and issued a $71.00 price objective on shares of American Electric Power in a research note on Wednesday. Jefferies Group LLC increased their price target on American Electric Power from $68.00 to $70.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. BidaskClub downgraded American Electric Power from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Finally, Zacks Investment Research downgraded American Electric Power from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $72.09.
In other American Electric Power news, insider Paul Chodak III sold 1,110 shares of the business’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $68.20, for a total transaction of $75,702.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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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