Old Mutual Global Investors UK Ltd. lowered its position in American Electric Power Co. (NYSE:AEP) by 42.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,550 shares of the company’s stock after selling 45,732 shares during the period. Old Mutual Global Investors UK Ltd.’s holdings in American Electric Power were worth $4,314,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in the company. MCF Advisors LLC raised its stake in American Electric Power by 0.9% in the first quarter. MCF Advisors LLC now owns 2,793 shares of the company’s stock worth $185,000 after buying an additional 24 shares during the period. Ancora Inverness LLC raised its stake in American Electric Power by 0.8% in the first quarter. Ancora Inverness LLC now owns 6,347 shares of the company’s stock worth $421,000 after buying an additional 48 shares during the period. Cape Cod Five Cents Savings Bank raised its stake in American Electric Power by 1.1% in the second quarter. Cape Cod Five Cents Savings Bank now owns 5,022 shares of the company’s stock worth $352,000 after buying an additional 57 shares during the period. Cribstone Capital Management LLC raised its stake in American Electric Power by 1.7% in the second quarter. Cribstone Capital Management LLC now owns 4,058 shares of the company’s stock worth $284,000 after buying an additional 69 shares during the period. Finally, Alpha Windward LLC raised its stake in American Electric Power by 3.6% in the second quarter. Alpha Windward LLC now owns 3,252 shares of the company’s stock worth $228,000 after buying an additional 113 shares during the period. Institutional investors and hedge funds own 68.74% of the company’s stock.
American Electric Power Co. (NYSE:AEP) traded up 0.09% on Friday, reaching $66.66. The company’s stock had a trading volume of 2,031,124 shares. The firm has a market cap of $32.78 billion, a P/E ratio of 16.45 and a beta of 0.24. American Electric Power Co. has a 12 month low of $53.30 and a 12 month high of $71.32. The firm’s 50 day moving average is $65.86 and its 200-day moving average is $66.21.
American Electric Power (NYSE:AEP) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. American Electric Power had a net margin of 12.50% and a return on equity of 9.54%. The company earned $3.90 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the previous year, the business earned $0.88 earnings per share. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities research analysts anticipate that American Electric Power Co. will post $3.69 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Wednesday, August 10th were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.36%. American Electric Power’s payout ratio is 55.17%.
A number of equities research analysts recently commented on the company. Zacks Investment Research upgraded American Electric Power from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Tuesday, September 13th. Jefferies Group lowered American Electric Power from a “buy” rating to a “hold” rating and decreased their price target for the stock from $77.00 to $67.00 in a research report on Tuesday. They noted that the move was a valuation call. KeyCorp restated an “outperform” rating and set a $72.50 price target (up from $69.00) on shares of American Electric Power in a research report on Saturday, July 2nd. Morgan Stanley restated a “hold” rating on shares of American Electric Power in a research report on Wednesday, June 15th. Finally, Goldman Sachs Group Inc. upgraded American Electric Power from a “neutral” rating to a “buy” rating and increased their price target for the stock from $71.00 to $73.00 in a research report on Tuesday, July 26th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target 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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