Bristol John W & Co. Inc. NY acquired a new stake in American Electric Power Company Inc (NYSE:AEP) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,450 shares of the utilities provider’s stock, valued at approximately $168,000.
A number of other institutional investors and hedge funds also recently modified their holdings of AEP. Cambridge Investment Research Advisors Inc. grew its position in shares of American Electric Power by 7.2% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 160,118 shares of the utilities provider’s stock worth $11,780,000 after buying an additional 10,775 shares in the last quarter. Allen Capital Group LLC acquired a new position in shares of American Electric Power during the fourth quarter worth about $208,000. Quadrature Capital Ltd acquired a new position in shares of American Electric Power during the fourth quarter worth about $5,923,000. Smart Money Group LLC acquired a new position in shares of American Electric Power during the fourth quarter worth about $328,000. Finally, LPL Financial LLC grew its position in shares of American Electric Power by 6.9% during the fourth quarter. LPL Financial LLC now owns 96,448 shares of the utilities provider’s stock worth $7,096,000 after buying an additional 6,185 shares in the last quarter. Hedge funds and other institutional investors own 72.32% of the company’s stock.
AEP has been the subject of a number of analyst reports. Morgan Stanley set a $71.00 price objective on American Electric Power and gave the stock a “buy” rating in a research report on Thursday, March 8th. Guggenheim raised American Electric Power from a “sell” rating to a “neutral” rating in a research report on Tuesday, February 20th. JPMorgan Chase & Co. lowered their price target on American Electric Power from $70.00 to $69.00 and set a “neutral” rating for the company in a report on Tuesday, April 10th. SunTrust Banks set a $76.00 price target on American Electric Power and gave the company a “buy” rating in a report on Monday, March 19th. Finally, KeyCorp upped their price target on American Electric Power from $69.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, April 18th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. American Electric Power has a consensus rating of “Buy” and an average target price of $73.71.
American Electric Power (NYSE:AEP) last released its quarterly earnings results on Thursday, April 26th. The utilities provider reported $0.96 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by ($0.02). American Electric Power had a return on equity of 9.93% and a net margin of 11.41%. The company had revenue of $4 billion for the quarter, compared to analysts’ expectations of $4 billion. During the same quarter last year, the company earned $0.96 EPS. American Electric Power’s revenue for the quarter was up 2.6% compared to the same quarter last year. sell-side analysts anticipate that American Electric Power Company Inc will post 3.88 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 8th. Shareholders of record on Thursday, May 10th were given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend was Wednesday, May 9th. American Electric Power’s payout ratio is 67.39%.
In other American Electric Power news, EVP Mark C. Mccullough sold 721 shares of the stock in a transaction on Friday, May 4th. The stock was sold at an average price of $69.63, for a total value of $50,203.23. Following the completion of the transaction, the executive vice president now owns 7,386 shares in the company, valued at $514,287.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.16% of the company’s stock.
American Electric Power Company Profile
American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.
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