Westpac Banking Corp cut its stake in American Electric Power Company Inc (NYSE:AEP) by 19.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,028 shares of the utilities provider’s stock after selling 6,942 shares during the period. Westpac Banking Corp’s holdings in American Electric Power were worth $2,136,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Meeder Asset Management Inc. boosted its holdings in American Electric Power by 188.7% in the third quarter. Meeder Asset Management Inc. now owns 5,333 shares of the utilities provider’s stock worth $375,000 after purchasing an additional 3,486 shares during the period. Raymond James Trust N.A. boosted its holdings in shares of American Electric Power by 3.4% during the third 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 boosted its holdings in shares of American Electric Power by 6.5% during the third 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 during the second quarter valued at $2,148,000. Finally, Commonwealth Equity Services Inc raised its stake in shares of American Electric Power by 1.2% during the third quarter. Commonwealth Equity Services Inc now owns 207,463 shares of the utilities provider’s stock valued at $14,572,000 after purchasing an additional 2,385 shares in the last quarter. Hedge funds and other institutional investors own 70.74% of the company’s stock.
A number of equities research analysts recently weighed in on the stock. UBS Group began coverage on shares of American Electric Power in a research note on Friday, February 2nd. They set a “buy” rating and a $76.00 price objective on the stock. Royal Bank of Canada reiterated a “hold” rating and issued a $74.00 price target on shares of American Electric Power in a research report on Monday, October 30th. SunTrust Banks set a $75.00 price target on shares of American Electric Power and gave the stock a “buy” rating in a research report on Monday. Macquarie upgraded American Electric Power from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $75.00 to $76.00 in a report on Monday, January 22nd. Finally, Zacks Investment Research downgraded American Electric Power from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $74.36.
Shares of American Electric Power Company Inc (NYSE AEP) traded down $0.28 during trading on Wednesday, reaching $65.30. The company’s stock had a trading volume of 5,750,270 shares, compared to its average volume of 4,090,000. The company has a market capitalization of $32,120.00, a PE ratio of 17.05, a P/E/G ratio of 3.09 and a beta of 0.18. The company has a quick ratio of 0.43, a current ratio of 0.49 and a debt-to-equity ratio of 1.04. American Electric Power Company Inc has a 52-week low of $62.69 and a 52-week high of $78.07.
American Electric Power (NYSE:AEP) last announced its earnings results on Thursday, January 25th. The utilities provider reported $0.85 earnings per share (EPS) 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 firm had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the prior year, the business earned $0.67 earnings per share. The company’s revenue was up .0% on a year-over-year basis. analysts expect that American Electric Power Company Inc will post 3.89 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 9th will be issued 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%.
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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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