Stephens Inc. AR decreased its position in American Electric Power (NYSE:AEP) by 10.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,738 shares of the utilities provider’s stock after selling 4,742 shares during the quarter. Stephens Inc. AR’s holdings in American Electric Power were worth $2,657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. NuWave Investment Management LLC increased its stake in American Electric Power by 977.2% in the 1st quarter. NuWave Investment Management LLC now owns 1,465 shares of the utilities provider’s stock worth $101,000 after acquiring an additional 1,329 shares during the last quarter. IFG Advisory LLC bought a new stake in American Electric Power in the 4th quarter worth approximately $231,000. Icon Wealth Partners LLC bought a new stake in American Electric Power in the 4th quarter worth approximately $117,000. Gradient Investments LLC bought a new stake in American Electric Power in the 4th quarter worth approximately $167,000. Finally, Global Trust Asset Management LLC bought a new stake in American Electric Power in the 4th quarter worth approximately $182,000. 71.85% of the stock is currently owned by institutional investors and hedge funds.
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A number of analysts have issued reports on AEP shares. Zacks Investment Research downgraded American Electric Power from a “hold” rating to a “sell” rating in a research note on Tuesday, February 13th. SunTrust Banks reaffirmed a “buy” rating and issued a $78.00 price objective on shares of American Electric Power in a research note on Tuesday, January 9th. Morgan Stanley set a $71.00 price objective on American Electric Power and gave the stock a “buy” rating in a research note on Thursday, March 8th. Macquarie raised American Electric Power from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $75.00 to $76.00 in a research note on Monday, January 22nd. Finally, Deutsche Bank raised American Electric Power from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $68.25 to $75.00 in a research note on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. American Electric Power presently has an average rating of “Buy” and an average price target of $73.77.
NYSE AEP opened at $68.78 on Tuesday. The company has a market cap of $34.18 billion, a PE ratio of 18.96, a P/E/G ratio of 3.14 and a beta of 0.16. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.34 and a current ratio of 0.44. American Electric Power has a fifty-two week low of $63.32 and a fifty-two week high of $78.07.
American Electric Power (NYSE:AEP) last released its earnings results on Thursday, April 26th. The utilities provider reported $0.96 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by ($0.02). The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $4 billion. American Electric Power had a net margin of 11.41% and a return on equity of 9.93%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.96 EPS. equities analysts expect that American Electric Power will post 3.88 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 8th. Stockholders of record on Thursday, May 10th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Wednesday, May 9th. American Electric Power’s dividend payout ratio is currently 67.39%.
In other American Electric Power news, EVP Mark C. Mccullough sold 721 shares of the company’s stock in a transaction on Friday, May 4th. The stock was sold at an average price of $69.63, for a total value of $50,203.23. Following the transaction, the executive vice president now owns 7,386 shares of the company’s stock, valued at approximately $514,287.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company’s stock.
American Electric Power Company Profile
American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.