CHURCHILL MANAGEMENT Corp increased its position in American Electric Power Company, Inc. (NYSE:AEP) by 5.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 42,370 shares of the utilities provider’s stock after buying an additional 2,062 shares during the period. CHURCHILL MANAGEMENT Corp’s holdings in American Electric Power were worth $2,943,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Point72 Asia Hong Kong Ltd bought a new stake in shares of American Electric Power during the first quarter worth $105,000. Chicago Partners Investment Group LLC raised 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 raised 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. raised 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 raised 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. Institutional investors and hedge funds own 70.77% of the company’s stock.
American Electric Power Company, Inc. (AEP) traded down 0.11% during mid-day trading on Thursday, hitting $71.94. The stock had a trading volume of 2,474,512 shares. The company has a market cap of $35.38 billion, a P/E ratio of 61.91 and a beta of 0.30. The company has a 50-day moving average price of $69.87 and a 200 day moving average price of $68.32. American Electric Power Company, Inc. has a 1-year low of $57.89 and a 1-year high of $72.97.
American Electric Power (NYSE:AEP) last announced 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. American Electric Power had a net margin of 3.60% and a return on equity of 10.32%. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same period last year, the firm earned $0.95 EPS. Equities research analysts forecast that American Electric Power Company, Inc. will post $3.66 EPS 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 issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Tuesday, August 8th. American Electric Power’s dividend payout ratio (DPR) is 203.45%.
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A number of equities analysts recently issued reports on AEP shares. Mizuho reissued a “buy” rating and issued a $72.50 price objective on shares of American Electric Power in a report on Wednesday, April 19th. BidaskClub lowered American Electric Power from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Morgan Stanley reaffirmed an “equal weight” rating on shares of American Electric Power in a research note on Monday, July 10th. Zacks Investment Research raised American Electric Power from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $70.00 price target on shares of American Electric Power in a research note on Wednesday, July 19th. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $72.17.
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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