Livforsakringsbolaget Skandia Omsesidigt lowered its position in American Electric Power Company Inc (NYSE:AEP) by 56.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,478 shares of the utilities provider’s stock after selling 9,500 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in American Electric Power were worth $550,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of AEP. Meeder Asset Management Inc. lifted its position in shares of American Electric Power by 188.7% during the 3rd quarter. Meeder Asset Management Inc. now owns 5,333 shares of the utilities provider’s stock worth $375,000 after buying an additional 3,486 shares during the last quarter. Raymond James Trust N.A. increased its holdings in shares of American Electric Power by 3.4% in the 3rd quarter. Raymond James Trust N.A. now owns 25,915 shares of the utilities provider’s stock valued at $1,820,000 after acquiring an additional 861 shares during the period. California Public Employees Retirement System increased its holdings in shares of American Electric Power by 6.5% in the 3rd quarter. California Public Employees Retirement System now owns 1,234,413 shares of the utilities provider’s stock valued at $86,705,000 after acquiring an additional 75,260 shares during the period. W. E. Donoghue & Co. LLC acquired a new position in shares of American Electric Power in the 2nd quarter valued at $2,148,000. Finally, Commonwealth Equity Services Inc increased its holdings in shares of American Electric Power by 1.2% in the 3rd quarter. Commonwealth Equity Services Inc now owns 207,463 shares of the utilities provider’s stock valued at $14,572,000 after acquiring an additional 2,385 shares during the period. Institutional investors own 70.74% of the company’s stock.
American Electric Power Company Inc (NYSE:AEP) traded down $0.28 during trading hours on Wednesday, hitting $65.30. 5,750,270 shares of the stock were exchanged, compared to its average volume of 4,090,000. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.43 and a current ratio of 0.49. American Electric Power Company Inc has a fifty-two week low of $62.69 and a fifty-two week high of $78.07. The firm has a market cap of $32,120.00, a PE ratio of 17.05, a PEG ratio of 3.09 and a beta of 0.18.
American Electric Power (NYSE:AEP) last posted its quarterly earnings results on Thursday, January 25th. The utilities provider reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.04. American Electric Power had a net margin of 12.39% and a return on equity of 10.05%. The business had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the prior year, the company posted $0.67 EPS. The business’s revenue for the quarter was up .0% on a year-over-year basis. analysts forecast that American Electric Power Company Inc will post 3.89 EPS for the current year.
The business also recently declared 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. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.80%. American Electric Power’s dividend payout ratio (DPR) is presently 64.75%.
AEP has been the topic of a number of recent research reports. Deutsche Bank raised shares of American Electric Power from a “hold” rating to a “buy” rating and lifted their target price for the company from $68.25 to $75.00 in a report on Thursday, January 18th. Mizuho raised shares of American Electric Power from a “neutral” rating to a “buy” rating in a report on Wednesday, January 17th. SunTrust Banks reaffirmed a “buy” rating and issued a $78.00 target price on shares of American Electric Power in a report on Tuesday, January 9th. Bank of America initiated coverage on shares of American Electric Power in a report on Tuesday, October 24th. They issued a “buy” rating and a $79.00 target price on the stock. Finally, ValuEngine raised shares of American Electric Power from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $74.36.
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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.
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