Nationwide Fund Advisors Sells 2,970 Shares of American Electric Power Company Inc (NYSE:AEP)

Nationwide Fund Advisors lessened its stake in American Electric Power Company Inc (NYSE:AEP) by 0.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 411,110 shares of the utilities provider’s stock after selling 2,970 shares during the period. Nationwide Fund Advisors owned 0.08% of American Electric Power worth $28,876,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Ledyard National Bank boosted its stake in American Electric Power by 52.6% in the 2nd quarter. Ledyard National Bank now owns 1,450 shares of the utilities provider’s stock worth $101,000 after purchasing an additional 500 shares in the last quarter. Smithfield Trust Co. boosted its stake 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 purchasing an additional 125 shares in the last quarter. Thompson Davis & CO. Inc. boosted its stake 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 purchasing an additional 6 shares in the last quarter. Enterprise Financial Services Corp boosted its stake 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 purchasing an additional 120 shares in the last quarter. Finally, Vantage Investment Advisors LLC boosted its stake 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 purchasing an additional 17 shares in the last quarter. 71.01% of the stock is currently owned by institutional investors.

Shares of American Electric Power Company Inc (NYSE:AEP) opened at $77.39 on Tuesday. American Electric Power Company Inc has a one year low of $57.90 and a one year high of $78.07. The company has a current ratio of 0.56, a quick ratio of 0.43 and a debt-to-equity ratio of 1.01. The stock has a market cap of $37,993.23, a price-to-earnings ratio of 22.19, a price-to-earnings-growth ratio of 4.50 and a beta of 0.30.

American Electric Power (NYSE:AEP) last announced 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 firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.42 billion. American Electric Power had a net margin of 12.21% and a return on equity of 9.67%. The company’s revenue was down 12.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.30 EPS. sell-side analysts forecast that American Electric Power Company Inc will post 3.61 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 10th will be given a dividend of $0.62 per share. This is a boost from American Electric Power’s previous quarterly dividend of $0.59. The ex-dividend date is Thursday, November 9th. This represents a $2.48 annualized dividend and a dividend yield of 3.20%. American Electric Power’s payout ratio is presently 64.92%.

Several analysts have commented on AEP shares. ValuEngine upgraded shares of American Electric Power from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Bank of America started coverage on shares of American Electric Power in a report on Tuesday, October 24th. They set a “buy” rating and a $79.00 target price for the company. KeyCorp reaffirmed a “buy” rating and set a $73.00 target price on shares of American Electric Power in a report on Friday, September 1st. BidaskClub raised shares of American Electric Power from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Finally, Morgan Stanley boosted their price target on shares of American Electric Power from $71.00 to $73.00 and gave the stock an “equal weight” rating in a report on Thursday, August 10th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $73.91.

WARNING: This news story was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this news story on another site, it was stolen and reposted in violation of U.S. & international copyright laws. The correct version of this news story can be read at https://www.dispatchtribunal.com/2017/12/05/nationwide-fund-advisors-has-28-88-million-position-in-american-electric-power-company-inc-aep.html.

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.

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.

Leave a Reply