Strs Ohio raised its position in American Electric Power Co. (NYSE:AEP) by 3.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 318,556 shares of the company’s stock after buying an additional 9,789 shares during the period. Strs Ohio’s holdings in American Electric Power were worth $22,327,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Zions Bancorporation increased its stake 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 in the last quarter. Tompkins Financial Corp purchased a new stake in shares of American Electric Power during the second quarter worth about $120,000. MCF Advisors LLC increased its stake 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 worth $185,000 after buying an additional 24 shares in the last quarter. CrestPoint Capital Management LLC purchased a new stake in shares of American Electric Power during the second quarter worth about $217,000. Finally, Peregrine Asset Advisers Inc. purchased a new stake in shares of American Electric Power during the first quarter worth about $218,000. 68.74% of the stock is currently owned by institutional investors and hedge funds.
American Electric Power Co. (NYSE:AEP) traded down 1.30% during midday trading on Tuesday, hitting $65.50. 2,229,779 shares of the stock traded hands. American Electric Power Co. has a one year low of $53.30 and a one year high of $71.32. The company’s 50-day moving average is $65.77 and its 200-day moving average is $66.27. The company has a market cap of $32.21 billion, a PE ratio of 16.16 and a beta of 0.24.
American Electric Power (NYSE:AEP) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.05. The business had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $4.01 billion. American Electric Power had a net margin of 12.50% and a return on equity of 9.54%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 earnings per share. Equities research analysts expect that American Electric Power Co. will post $3.69 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Wednesday, August 10th were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.42%. American Electric Power’s payout ratio is 55.17%.
A number of analysts have recently issued reports on AEP shares. Zacks Investment Research downgraded shares of American Electric Power from a “hold” rating to a “sell” rating in a report on Wednesday, June 15th. Morgan Stanley restated a “hold” rating on shares of American Electric Power in a report on Wednesday, June 15th. Jefferies Group raised their price target on shares of American Electric Power from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, June 17th. KeyCorp restated an “outperform” rating and set a $72.50 price target (up previously from $69.00) on shares of American Electric Power in a report on Saturday, July 2nd. Finally, Citigroup Inc. raised their price target on shares of American Electric Power from $61.00 to $68.00 and gave the stock a “neutral” rating in a report on Wednesday, July 20th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. American Electric Power has an average rating of “Buy” and an average price target of $67.61.
About American Electric Power
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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