ING Groep NV purchased a new position in shares of American Electric Power Co. (NYSE:AEP) during the second quarter, Holdings Channel reports. The institutional investor purchased 16,068 shares of the company’s stock, valued at approximately $1,126,000.
Several other hedge funds and other institutional investors have also made changes to their positions in AEP. Tompkins Financial Corp acquired a new position in shares of American Electric Power during the second quarter worth about $120,000. Zions Bancorporation increased its position in shares of 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. Headinvest LLC acquired a new position in shares of American Electric Power during the second quarter worth about $202,000. CrestPoint Capital Management LLC acquired a new position in shares of American Electric Power during the second quarter worth about $217,000. Finally, Torch Wealth Management LLC increased its position in shares of American Electric Power by 0.7% in the second quarter. Torch Wealth Management LLC now owns 3,171 shares of the company’s stock worth $222,000 after buying an additional 21 shares during the last quarter. 68.74% of the stock is currently owned by hedge funds and other institutional investors.
Shares of American Electric Power Co. (NYSE:AEP) traded down 0.74% during trading on Friday, reaching $61.79. The company had a trading volume of 3,345,269 shares. The stock’s 50-day moving average price is $64.90 and its 200-day moving average price is $66.16. The company has a market capitalization of $30.38 billion, a PE ratio of 15.25 and a beta of 0.23. 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 released its quarterly earnings data on Thursday, July 28th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates 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 had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the prior year, the firm posted $0.88 earnings per share. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities analysts expect that American Electric Power Co. will post $3.69 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Wednesday, August 10th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.63%. American Electric Power’s dividend payout ratio is presently 55.17%.
A number of brokerages have recently issued reports on AEP. Barclays PLC upped their price target on American Electric Power from $75.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, July 29th. Citigroup Inc. upped their price objective on American Electric Power from $61.00 to $68.00 and gave the company a “neutral” rating in a research report on Wednesday, July 20th. Zacks Investment Research cut American Electric Power from a “buy” rating to a “hold” rating in a research report on Wednesday, September 14th. Morgan Stanley reiterated a “hold” rating on shares of American Electric Power in a research report on Wednesday, June 15th. Finally, Jefferies Group cut American Electric Power from a “buy” rating to a “hold” rating and reduced their price objective for the company from $77.00 to $67.00 in a research report on Tuesday, September 20th. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $67.39.
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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