Verition Fund Management LLC acquired a new stake in American Electric Power (NYSE:AEP) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 142,453 shares of the utilities provider’s stock, valued at approximately $10,480,000. American Electric Power comprises approximately 1.0% of Verition Fund Management LLC’s holdings, making the stock its 10th biggest position.
A number of other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in American Electric Power by 2.3% in the fourth quarter. BlackRock Inc. now owns 33,713,494 shares of the utilities provider’s stock valued at $2,480,302,000 after buying an additional 763,950 shares during the last quarter. Wells Fargo & Company MN increased its holdings in American Electric Power by 15.2% in the fourth quarter. Wells Fargo & Company MN now owns 11,555,836 shares of the utilities provider’s stock valued at $850,164,000 after buying an additional 1,526,465 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in American Electric Power by 70.2% in the third quarter. JPMorgan Chase & Co. now owns 6,696,615 shares of the utilities provider’s stock valued at $472,110,000 after buying an additional 2,762,164 shares during the last quarter. Renaissance Technologies LLC increased its holdings in American Electric Power by 4.9% in the fourth quarter. Renaissance Technologies LLC now owns 5,227,300 shares of the utilities provider’s stock valued at $384,572,000 after buying an additional 245,600 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in American Electric Power by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 4,891,154 shares of the utilities provider’s stock valued at $359,044,000 after buying an additional 161,176 shares during the last quarter. 71.71% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently commented on AEP. UBS began coverage on American Electric Power in a report on Friday, February 2nd. They set a “buy” rating and a $76.00 target price for the company. Macquarie raised American Electric Power from a “neutral” rating to an “outperform” rating and upped their target price for the company from $75.00 to $76.00 in a report on Monday, January 22nd. SunTrust Banks set a $75.00 target price on American Electric Power and gave the company a “buy” rating in a report on Monday, February 12th. Zacks Investment Research lowered American Electric Power from a “hold” rating to a “sell” rating in a report on Tuesday, February 13th. Finally, Morgan Stanley lowered their target price on American Electric Power from $77.00 to $71.00 and set a “buy” rating for the company in a report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $74.43.
Shares of NYSE AEP opened at $68.53 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.51 and a quick ratio of 0.40. The company has a market cap of $33,918.87, a PE ratio of 18.84, a price-to-earnings-growth ratio of 3.29 and a beta of 0.17. American Electric Power has a 12-month low of $63.32 and a 12-month high of $78.07.
American Electric Power (NYSE:AEP) last released its earnings results 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. The firm had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.92 billion. American Electric Power had a return on equity of 10.05% and a net margin of 12.39%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 earnings per share. analysts predict that American Electric Power will post 3.89 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Friday, February 9th were given a $0.62 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.48 dividend on an annualized basis and a yield of 3.62%. American Electric Power’s dividend payout ratio (DPR) is 67.39%.
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American Electric Power 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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