Creative Planning grew its holdings in American Electric Power Company Inc (NYSE:AEP) by 13.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 77,408 shares of the utilities provider’s stock after buying an additional 9,231 shares during the quarter. Creative Planning’s holdings in American Electric Power were worth $5,695,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of AEP. Chicago Partners Investment Group LLC acquired a new position in American Electric Power during the third quarter worth $113,000. Bank of Nova Scotia Trust Co. purchased a new stake in American Electric Power in the third quarter valued at $140,000. WFG Advisors LP raised its position in American Electric Power by 36.3% in the second quarter. WFG Advisors LP now owns 2,039 shares of the utilities provider’s stock valued at $142,000 after purchasing an additional 543 shares during the period. Quantbot Technologies LP purchased a new stake in American Electric Power in the second quarter valued at $147,000. Finally, TCI Wealth Advisors Inc. raised its position in American Electric Power by 54.4% in the third quarter. TCI Wealth Advisors Inc. now owns 2,261 shares of the utilities provider’s stock valued at $159,000 after purchasing an additional 797 shares during the period. Institutional investors and hedge funds own 71.12% of the company’s stock.
A number of equities research analysts have commented on the company. UBS Group began coverage on American Electric Power in a research report on Friday, February 2nd. They issued a “buy” rating and a $76.00 target price on the stock. Royal Bank of Canada reiterated a “hold” rating and issued a $74.00 price objective on shares of American Electric Power in a report on Monday, October 30th. Macquarie upgraded American Electric Power from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $75.00 to $76.00 in a report on Monday, January 22nd. Zacks Investment Research downgraded American Electric Power from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Finally, ValuEngine upgraded American Electric Power from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $75.43.
American Electric Power (NYSE:AEP) last posted its quarterly earnings data on Thursday, January 25th. The utilities provider reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.04. American Electric Power had a return on equity of 10.05% and a net margin of 12.39%. The company had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same period last year, the firm earned $0.67 EPS. The firm’s revenue for the quarter was up .0% on a year-over-year basis. research analysts forecast that American Electric Power Company Inc will post 3.89 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 9th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date is Thursday, February 8th. American Electric Power’s dividend payout ratio (DPR) is 64.75%.
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American Electric Power 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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