American Electric Power Company Inc (AEP) Stake Lowered by Amundi Pioneer Asset Management Inc.

Amundi Pioneer Asset Management Inc. cut its stake in shares of American Electric Power Company Inc (NYSE:AEP) by 9.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,849,263 shares of the utilities provider’s stock after selling 511,300 shares during the quarter. American Electric Power accounts for about 1.1% of Amundi Pioneer Asset Management Inc.’s holdings, making the stock its 25th biggest holding. Amundi Pioneer Asset Management Inc. owned approximately 0.99% of American Electric Power worth $340,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Ledyard National Bank increased its position in shares of American Electric Power by 52.6% during the 2nd quarter. Ledyard National Bank now owns 1,450 shares of the utilities provider’s stock valued at $101,000 after purchasing an additional 500 shares during the last quarter. Smithfield Trust Co. increased its holdings in American Electric Power by 8.1% in the 2nd quarter. Smithfield Trust Co. now owns 1,677 shares of the utilities provider’s stock worth $117,000 after acquiring an additional 125 shares in the last quarter. Thompson Davis & CO. Inc. increased its holdings in American Electric Power by 0.3% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,747 shares of the utilities provider’s stock worth $121,000 after acquiring an additional 6 shares in the last quarter. Enterprise Financial Services Corp increased its holdings in American Electric Power by 7.2% in the 2nd quarter. Enterprise Financial Services Corp now owns 1,798 shares of the utilities provider’s stock worth $125,000 after acquiring an additional 120 shares in the last quarter. Finally, Vantage Investment Advisors LLC increased its holdings in American Electric Power by 0.9% in the 2nd quarter. Vantage Investment Advisors LLC now owns 1,862 shares of the utilities provider’s stock worth $129,000 after acquiring an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Shares of American Electric Power Company Inc (NYSE AEP) opened at $76.27 on Wednesday. The company has a quick ratio of 0.43, a current ratio of 0.56 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $38,067.01, a PE ratio of 22.24, a price-to-earnings-growth ratio of 4.51 and a beta of 0.30. American Electric Power Company Inc has a twelve month low of $59.01 and a twelve month high of $78.07.

American Electric Power (NYSE:AEP) last issued its quarterly earnings results on Thursday, October 26th. The utilities provider reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.06). The business had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.42 billion. American Electric Power had a return on equity of 9.67% and a net margin of 12.21%. American Electric Power’s revenue was down 12.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.30 EPS. sell-side analysts forecast that American Electric Power Company Inc will post 3.61 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 10th will be issued a dividend of $0.62 per share. This is an increase from American Electric Power’s previous quarterly dividend of $0.59. The ex-dividend date is Thursday, November 9th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.25%. American Electric Power’s payout ratio is 64.92%.

Several equities research analysts recently issued reports on the stock. ValuEngine raised shares of American Electric Power from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $74.00 price objective on shares of American Electric Power in a report on Monday, October 30th. Bank of America assumed coverage on American Electric Power in a research report on Tuesday, October 24th. They set a “buy” rating and a $79.00 target price for the company. Deutsche Bank downgraded American Electric Power from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Finally, J P Morgan Chase & Co increased their target price on American Electric Power to $75.00 and gave the company a “neutral” rating in a research report on Thursday, October 12th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $73.91.

WARNING: “American Electric Power Company Inc (AEP) Stake Lowered by Amundi Pioneer Asset Management Inc.” was first posted by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this news story on another site, it was stolen and republished in violation of United States and international copyright and trademark legislation. The legal version of this news story can be read at https://stocknewstimes.com/2017/12/06/american-electric-power-company-inc-aep-position-reduced-by-amundi-pioneer-asset-management-inc.html.

About American Electric Power

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.

Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

Receive News & Ratings for American Electric Power Company Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Electric Power Company Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply