Seminole Management Co. Inc. purchased a new stake in shares of American Electric Power Co. (NYSE:AEP) during the second quarter, Holdings Channel reports. The fund purchased 11,100 shares of the company’s stock, valued at approximately $778,000.
Several other institutional investors also recently made changes to their positions in AEP. Zions Bancorporation boosted 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 valued at $115,000 after buying an additional 125 shares during the period. Tompkins Financial Corp bought a new position in shares of American Electric Power during the second quarter valued at $120,000. MCF Advisors LLC boosted its position in shares of American Electric Power by 0.9% in the first quarter. MCF Advisors LLC now owns 2,793 shares of the company’s stock valued at $185,000 after buying an additional 24 shares during the period. Headinvest LLC bought a new position in shares of American Electric Power during the second quarter valued at $202,000. Finally, CrestPoint Capital Management LLC bought a new position in shares of American Electric Power during the second quarter valued at $217,000. Institutional investors own 68.74% of the company’s stock.
American Electric Power Co. (NYSE:AEP) traded up 0.09% during midday trading on Friday, hitting $66.66. The stock had a trading volume of 2,031,124 shares. The company has a market capitalization of $32.78 billion, a PE ratio of 16.45 and a beta of 0.24. American Electric Power Co. has a 1-year low of $53.30 and a 1-year high of $71.32. The stock’s 50-day moving average is $65.91 and its 200-day moving average is $66.19.
American Electric Power (NYSE:AEP) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.95 EPS for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.05. The business had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $4.01 billion. American Electric Power had a return on equity of 9.54% and a net margin of 12.50%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the firm earned $0.88 earnings per share. Equities research analysts forecast 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. Shareholders of record on Wednesday, August 10th were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.36%. American Electric Power’s dividend payout ratio is presently 55.17%.
Several equities analysts have recently weighed in on the company. 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 restated a “hold” rating on shares of American Electric Power in a research report on Wednesday, June 15th. Citigroup Inc. boosted their target price 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. KeyCorp restated an “outperform” rating and set a $72.50 target price (up from $69.00) on shares of American Electric Power in a research report on Saturday, July 2nd. Finally, Barclays PLC boosted their target price on American Electric Power from $75.00 to $77.00 and gave the stock an “overweight” rating in a research report on Friday, July 29th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. American Electric Power currently has a consensus rating of “Buy” and a consensus 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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