Wedge Capital Management L L P NC grew its position in shares of American Electric Power Company Inc (NYSE:AEP) by 13.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 231,729 shares of the utilities provider’s stock after acquiring an additional 27,666 shares during the quarter. Wedge Capital Management L L P NC’s holdings in American Electric Power were worth $21,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently bought and sold shares of AEP. Prestige Wealth Management Group LLC raised its stake in shares of American Electric Power by 195.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 410 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 271 shares during the period. Kings Point Capital Management purchased a new position in shares of American Electric Power during the second quarter worth about $39,000. Venturi Wealth Management LLC purchased a new position in shares of American Electric Power during the third quarter worth about $43,000. Massmutual Trust Co. FSB ADV grew its holdings in shares of American Electric Power by 34.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 778 shares of the utilities provider’s stock worth $68,000 after purchasing an additional 200 shares in the last quarter. Finally, Cerebellum GP LLC purchased a new position in shares of American Electric Power during the third quarter worth about $68,000. 73.81% of the stock is currently owned by hedge funds and other institutional investors.
AEP stock opened at $96.60 on Thursday. American Electric Power Company Inc has a fifty-two week low of $74.56 and a fifty-two week high of $96.67. The business’s 50-day moving average is $93.20 and its two-hundred day moving average is $91.74. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.36 and a current ratio of 0.48. The company has a market cap of $46.92 billion, a price-to-earnings ratio of 24.46, a P/E/G ratio of 3.82 and a beta of 0.07.
American Electric Power (NYSE:AEP) last posted its quarterly earnings data on Thursday, October 24th. The utilities provider reported $1.46 EPS for the quarter, topping the consensus estimate of $1.32 by $0.14. The firm had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $5.08 billion. American Electric Power had a return on equity of 11.09% and a net margin of 13.52%. During the same quarter last year, the company earned $1.26 earnings per share. Equities analysts predict that American Electric Power Company Inc will post 4.18 earnings per share for the current year.
AEP has been the subject of several research reports. UBS Group upped their target price on American Electric Power from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. Royal Bank of Canada raised American Electric Power from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $96.00 to $103.00 in a research note on Wednesday. Mizuho downgraded American Electric Power from a “buy” rating to a “neutral” rating in a research report on Friday, January 3rd. Scotiabank upgraded American Electric Power from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $93.00 to $102.00 in a research report on Friday, December 20th. Finally, Morgan Stanley decreased their target price on American Electric Power from $95.00 to $92.00 and set an “equal weight” rating for the company in a report on Tuesday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $97.42.
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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