Duff & Phelps Investment Management Co. lowered its position in shares of American Electric Power Co. (NYSE:AEP) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 941,885 shares of the company’s stock after selling 1,080 shares during the period. Duff & Phelps Investment Management Co.’s holdings in American Electric Power were worth $66,017,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the stock. Zions Bancorporation increased its stake in American Electric Power by 7.7% in the first quarter. Zions Bancorporation now owns 1,747 shares of the company’s stock worth $115,000 after buying an additional 125 shares during the last quarter. Tompkins Financial Corp bought a new stake in American Electric Power during the second quarter worth $120,000. Quadrant Capital Group LLC increased its stake in American Electric Power by 1.1% in the second quarter. Quadrant Capital Group LLC now owns 2,841 shares of the company’s stock worth $191,000 after buying an additional 30 shares during the last quarter. Headinvest LLC bought a new stake in American Electric Power during the second quarter worth $202,000. Finally, CrestPoint Capital Management LLC bought a new stake in American Electric Power during the second quarter worth $217,000. Hedge funds and other institutional investors own 68.66% of the company’s stock.
Shares of American Electric Power Co. (NYSE:AEP) traded down 0.28% during midday trading on Wednesday, hitting $63.19. The company had a trading volume of 2,351,365 shares. The company has a market capitalization of $31.07 billion, a P/E ratio of 15.59 and a beta of 0.23. The firm’s 50 day moving average is $64.19 and its 200 day moving average is $66.00. American Electric Power Co. has a 52 week low of $53.30 and a 52 week high of $71.32.
American Electric Power (NYSE:AEP) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.05. American Electric Power had a return on equity of 9.54% and a net margin of 12.50%. The firm earned $3.90 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the company posted $0.88 earnings per share. The company’s revenue was up 2.6% compared to the same quarter last year. Equities research analysts anticipate that American Electric Power Co. will post $3.69 EPS for the current year.
AEP has been the subject of several recent analyst reports. SunTrust Banks Inc. upped their price objective on American Electric Power from $74.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, September 26th. Zacks Investment Research downgraded American Electric Power from a “buy” rating to a “hold” rating in a research report on Wednesday, September 14th. RBC Capital Markets restated a “hold” rating and set a $67.00 price objective (down from $72.00) on shares of American Electric Power in a research report on Thursday, October 13th. KeyCorp restated an “outperform” rating and set a $72.50 price objective (up from $69.00) on shares of American Electric Power in a research report on Saturday, July 2nd. Finally, Citigroup Inc. upped their price objective on American Electric Power from $61.00 to $68.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 20th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. American Electric Power has an average rating of “Buy” and an average target price of $68.17.
American Electric Power Company Profile
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 Company’s segments include Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing.
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