American Electric Power Company Inc (AEP) Stake Increased by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC grew its holdings in American Electric Power Company Inc (NYSE:AEP) by 79.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,100 shares of the utilities provider’s stock after buying an additional 30,100 shares during the quarter. Lord Abbett & CO. LLC’s holdings in American Electric Power were worth $4,671,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. NuWave Investment Management LLC increased its position in shares of American Electric Power by 977.2% in the first quarter. NuWave Investment Management LLC now owns 1,465 shares of the utilities provider’s stock valued at $101,000 after buying an additional 1,329 shares in the last quarter. Icon Wealth Partners LLC purchased a new stake in shares of American Electric Power in the fourth quarter valued at approximately $117,000. Optimum Investment Advisors purchased a new stake in shares of American Electric Power in the first quarter valued at approximately $141,000. Jacobi Capital Management LLC increased its position in shares of American Electric Power by 367.9% in the first quarter. Jacobi Capital Management LLC now owns 2,438 shares of the utilities provider’s stock valued at $166,000 after buying an additional 1,917 shares in the last quarter. Finally, Bristol John W & Co. Inc. NY purchased a new stake in shares of American Electric Power in the first quarter valued at approximately $168,000. Institutional investors and hedge funds own 72.25% of the company’s stock.

A number of analysts have recently commented on the company. Morgan Stanley cut their price objective on American Electric Power from $71.00 to $67.00 and set an “overweight” rating for the company in a research report on Wednesday, June 13th. ValuEngine cut American Electric Power from a “hold” rating to a “sell” rating in a research report on Wednesday, June 6th. Argus cut their price objective on American Electric Power from $84.00 to $79.00 and set a “buy” rating for the company in a research report on Thursday, May 24th. KeyCorp boosted their price objective on American Electric Power from $69.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, April 18th. Finally, JPMorgan Chase & Co. cut their price objective on American Electric Power from $70.00 to $69.00 and set a “neutral” rating for the company in a research report on Tuesday, April 10th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $73.71.

Shares of AEP opened at $67.35 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.44 and a quick ratio of 0.34. American Electric Power Company Inc has a one year low of $62.71 and a one year high of $78.07. The company has a market cap of $33.23 billion, a P/E ratio of 18.30, a PEG ratio of 3.06 and a beta of 0.18.

American Electric Power (NYSE:AEP) last issued 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 firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $4 billion. During the same quarter in the previous year, the firm posted $0.96 earnings per share. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. equities analysts predict that American Electric Power Company Inc will post 3.88 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 8th. Shareholders of record on Thursday, May 10th were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date was Wednesday, May 9th. American Electric Power’s dividend payout ratio (DPR) is currently 67.39%.

In other American Electric Power news, EVP Mark C. Mccullough sold 721 shares of the business’s stock in a transaction on Friday, May 4th. The stock was sold at an average price of $69.63, for a total transaction of $50,203.23. Following the transaction, the executive vice president now owns 7,386 shares of the company’s stock, valued at $514,287.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.16% of the company’s stock.

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.

Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

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