Dupont Capital Management Corp raised its position in shares of American Electric Power Company, Inc. (NYSE:AEP) by 25.2% during the second quarter, Holdings Channel reports. The institutional investor owned 111,428 shares of the utilities provider’s stock after buying an additional 22,437 shares during the period. Dupont Capital Management Corp’s holdings in American Electric Power were worth $7,741,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Ledyard National Bank increased its position in American Electric Power by 52.6% in the second quarter. Ledyard National Bank now owns 1,450 shares of the utilities provider’s stock worth $101,000 after buying an additional 500 shares in the last quarter. Point72 Asia Hong Kong Ltd acquired a new position in American Electric Power during the first quarter worth about $105,000. Chicago Partners Investment Group LLC increased its position in 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 in the last quarter. Zions Bancorporation increased its position in 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 in the last quarter. Finally, Thompson Davis & CO. Inc. increased its position in 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 in the last quarter. Institutional investors own 70.77% of the company’s stock.
Shares of American Electric Power Company, Inc. (NYSE:AEP) opened at 72.16 on Friday. The stock’s 50 day moving average is $70.00 and its 200-day moving average is $68.41. The stock has a market cap of $35.49 billion, a PE ratio of 62.10 and a beta of 0.30. 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 data on Thursday, July 27th. The utilities provider reported $0.75 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 during the quarter, compared to analyst estimates of $3.70 billion. During the same quarter last year, the business earned $0.95 EPS. On average, analysts predict that American Electric Power Company, Inc. will post $3.66 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 10th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 3.27%. 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 research analysts recently issued reports on AEP shares. BidaskClub downgraded shares of American Electric Power from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Morgan Stanley restated an “equal weight” rating on shares of American Electric Power in a research report on Monday, July 10th. Zacks Investment Research upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Jefferies Group LLC reiterated a “hold” rating and issued a $70.00 price objective on shares of American Electric Power in a research report on Wednesday, July 19th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $71.00 price objective on shares of American Electric Power in a research report on Wednesday, August 2nd. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently 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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