Providence Capital Advisors LLC decreased its position in American Electric Power Company Inc (NYSE:AEP) by 29.6% during the 2nd quarter, Holdings Channel reports. The fund owned 13,575 shares of the utilities provider’s stock after selling 5,706 shares during the quarter. Providence Capital Advisors LLC’s holdings in American Electric Power were worth $1,195,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently modified their holdings of the company. Cobblestone Capital Advisors LLC NY increased its position in American Electric Power by 144.2% during the 2nd quarter. Cobblestone Capital Advisors LLC NY now owns 8,468 shares of the utilities provider’s stock worth $745,000 after purchasing an additional 5,000 shares during the period. Achmea Investment Management B.V. acquired a new stake in shares of American Electric Power in the 2nd quarter valued at approximately $4,049,000. Coastal Capital Group Inc. purchased a new stake in shares of American Electric Power in the second quarter valued at approximately $145,000. Cornerstone Advisors Inc. boosted its stake in shares of American Electric Power by 47.2% in the first quarter. Cornerstone Advisors Inc. now owns 546 shares of the utilities provider’s stock valued at $46,000 after buying an additional 175 shares in the last quarter. Finally, Cetera Advisor Networks LLC grew its holdings in American Electric Power by 14.7% during the first quarter. Cetera Advisor Networks LLC now owns 26,278 shares of the utilities provider’s stock worth $2,204,000 after acquiring an additional 3,377 shares during the period. 73.88% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have commented on the stock. Bank of America restated a “buy” rating and set a $98.00 target price (up from $93.00) on shares of American Electric Power in a research report on Tuesday, July 9th. KeyCorp initiated coverage on American Electric Power in a report on Tuesday, June 4th. They issued a “sector weight” rating on the stock. UBS Group raised their price objective on American Electric Power from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Zacks Investment Research raised American Electric Power from a “sell” rating to a “hold” rating and set a $96.00 price objective for the company in a report on Thursday, July 11th. Finally, Morgan Stanley decreased their target price on American Electric Power from $93.00 to $91.00 and set an “equal weight” rating on the stock in a research report on Friday, August 16th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. American Electric Power has a consensus rating of “Buy” and a consensus target price of $89.82.
Shares of AEP traded up $0.60 during mid-day trading on Wednesday, reaching $91.69. 192,673 shares of the company’s stock were exchanged, compared to its average volume of 2,131,210. The company has a quick ratio of 0.36, a current ratio of 0.49 and a debt-to-equity ratio of 1.29. The company has a 50-day simple moving average of $90.10 and a two-hundred day simple moving average of $87.02. American Electric Power Company Inc has a 52-week low of $68.92 and a 52-week high of $93.23. The company has a market cap of $45.12 billion, a price-to-earnings ratio of 23.21, a PEG ratio of 3.91 and a beta of 0.11.
American Electric Power (NYSE:AEP) last posted its earnings results on Thursday, July 25th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $4.13 billion. American Electric Power had a return on equity of 10.69% and a net margin of 12.53%. American Electric Power’s revenue was down 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 EPS. As a group, equities research analysts predict that American Electric Power Company Inc will post 4.13 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were issued a $0.67 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.92%. American Electric Power’s dividend payout ratio (DPR) is 67.85%.
In related news, VP Brian X. Tierney sold 4,458 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $89.73, for a total transaction of $400,016.34. Following the sale, the vice president now owns 39,745 shares in the company, valued at $3,566,318.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Charles E. Zebula sold 1,216 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $90.98, for a total transaction of $110,631.68. Following the sale, the insider now owns 7,420 shares in the company, valued at approximately $675,071.60. The disclosure for this sale can be found here. 0.16% of the stock is owned by corporate insiders.
American Electric Power Company 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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