Pacific Center for Financial Services held its stake in American Electric Power Company, Inc. (NYSE:AEP) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Jackson Grant Investment Advisers Inc. increased its position 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 during the period. Teachers Advisors LLC boosted its position 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 acquired a new stake in shares of American Electric Power during the fourth quarter worth $2,246,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of American Electric Power during the fourth quarter worth $1,002,000. Finally, Macquarie Group Ltd. boosted 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 worth $34,368,000 after buying an additional 80,008 shares during the period. 70.83% of the stock is owned by institutional investors and hedge funds.
Shares of American Electric Power Company, Inc. (AEP) opened at 70.96 on Thursday. The company has a market cap of $34.90 billion, a price-to-earnings ratio of 61.07 and a beta of 0.30. American Electric Power Company, Inc. has a 12-month low of $57.89 and a 12-month high of $72.97. The stock has a 50 day moving average of $69.93 and a 200 day moving average of $68.01.
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 consensus estimate of $0.82 by $0.07. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.70 billion. American Electric Power had a return on equity of 10.32% and a net margin of 3.60%. During the same period last year, the firm earned $0.95 EPS. Equities research analysts predict 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. This represents a $2.36 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Tuesday, August 8th. American Electric Power’s dividend payout ratio (DPR) is presently 203.45%.
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AEP has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Barclays PLC reiterated an “overweight” rating and set a $76.00 price target (up previously from $71.00) on shares of American Electric Power in a report on Sunday, April 23rd. BMO Capital Markets reiterated an “outperform” rating and set a $75.00 price target (up previously from $73.00) on shares of American Electric Power in a report on Friday, July 28th. BidaskClub cut shares of American Electric Power from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $71.00 price objective on shares of American Electric Power in a research report on Wednesday, August 2nd. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $72.09.
In related news, insider Paul Chodak III sold 1,110 shares of the business’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $68.20, for a total value of $75,702.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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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