Rothschild & Co. Asset Management US Inc. lowered its position in shares of American Electric Power Company, Inc. (NYSE:AEP) by 31.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 361,069 shares of the utilities provider’s stock after selling 162,866 shares during the quarter. Rothschild & Co. Asset Management US Inc. owned about 0.07% of American Electric Power worth $29,510,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV raised its stake in American Electric Power by 278.0% during the second quarter. Creative Financial Designs Inc. ADV now owns 378 shares of the utilities provider’s stock valued at $30,000 after buying an additional 278 shares in the last quarter. Rockbridge Investment Management LCC bought a new position in American Electric Power in the 2nd quarter worth approximately $31,000. Weaver Consulting Group grew its holdings in American Electric Power by 75.6% in the 2nd quarter. Weaver Consulting Group now owns 418 shares of the utilities provider’s stock worth $33,000 after buying an additional 180 shares in the last quarter. Tortoise Investment Management LLC grew its holdings in American Electric Power by 131.2% in the 2nd quarter. Tortoise Investment Management LLC now owns 497 shares of the utilities provider’s stock worth $40,000 after buying an additional 282 shares in the last quarter. Finally, Old North State Trust LLC acquired a new stake in American Electric Power in the third quarter worth approximately $51,000. Hedge funds and other institutional investors own 73.16% of the company’s stock.
A number of brokerages have recently commented on AEP. Royal Bank of Canada increased their price objective on American Electric Power from $94.00 to $98.00 and gave the company an “outperform” rating in a research report on Monday, October 26th. Morgan Stanley increased their target price on American Electric Power from $106.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday. TheStreet upgraded American Electric Power from a “c+” rating to a “b-” rating in a report on Tuesday, July 21st. KeyCorp increased their target price on American Electric Power from $96.00 to $97.00 and gave the company an “overweight” rating in a report on Monday, October 19th. Finally, Wolfe Research restated a “peer perform” rating on shares of American Electric Power in a report on Monday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $96.31.
In other American Electric Power news, EVP Paul Chodak III sold 2,024 shares of the stock in a transaction on Thursday, November 12th. The shares were sold at an average price of $90.67, for a total transaction of $183,516.08. Following the transaction, the executive vice president now directly owns 6,580 shares of the company’s stock, valued at $596,608.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.16% of the company’s stock.
American Electric Power stock traded down $1.19 during mid-day trading on Tuesday, hitting $88.02. 65,081 shares of the company’s stock were exchanged, compared to its average volume of 3,160,007. The company has a current ratio of 0.42, a quick ratio of 0.30 and a debt-to-equity ratio of 1.31. The stock has a market cap of $44.28 billion, a P/E ratio of 23.17, a P/E/G ratio of 3.39 and a beta of 0.30. American Electric Power Company, Inc. has a 1-year low of $65.14 and a 1-year high of $104.97. The stock has a 50 day moving average of $89.26 and a two-hundred day moving average of $83.79.
American Electric Power (NYSE:AEP) last posted its earnings results on Thursday, October 22nd. The utilities provider reported $1.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.03. The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.21 billion. American Electric Power had a net margin of 12.56% and a return on equity of 10.24%. The business’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.46 earnings per share. As a group, research analysts predict that American Electric Power Company, Inc. will post 4.32 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Tuesday, November 10th will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 3.36%. This is an increase from American Electric Power’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Monday, November 9th. American Electric Power’s dividend payout ratio is presently 69.81%.
About American Electric Power
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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.
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