American Electric Power Company Inc (AEP) Position Lowered by Municipal Employees Retirement System of Michigan
Municipal Employees Retirement System of Michigan lowered its stake in American Electric Power Company Inc (NYSE:AEP) by 49.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,710 shares of the utilities provider’s stock after selling 12,280 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in American Electric Power were worth $935,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of AEP. Chicago Partners Investment Group LLC bought a new position in American Electric Power in the third quarter valued at about $113,000. Icon Wealth Partners LLC bought a new position in American Electric Power in the fourth quarter valued at about $117,000. Bank of Nova Scotia Trust Co. bought a new position in American Electric Power in the third quarter valued at about $140,000. Gradient Investments LLC bought a new position in American Electric Power in the fourth quarter valued at about $167,000. Finally, Global Trust Asset Management LLC bought a new position in American Electric Power in the fourth quarter valued at about $182,000. Institutional investors own 71.61% of the company’s stock.
A number of research analysts have issued reports on AEP shares. Morgan Stanley upgraded American Electric Power from an “equal weight” rating to an “overweight” rating and set a $83.00 target price on the stock in a research report on Wednesday, December 13th. ValuEngine cut American Electric Power from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Guggenheim cut American Electric Power from a “neutral” rating to a “sell” rating in a research report on Tuesday, January 2nd. Zacks Investment Research cut American Electric Power from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $78.00 target price on shares of American Electric Power in a research report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $74.43.
American Electric Power (NYSE:AEP) last released its quarterly earnings results on Thursday, January 25th. The utilities provider reported $0.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.04. The company had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.92 billion. American Electric Power had a return on equity of 10.05% and a net margin of 12.39%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.67 earnings per share. research analysts anticipate that American Electric Power Company Inc will post 3.89 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Friday, February 9th were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend was Thursday, February 8th. American Electric Power’s dividend payout ratio (DPR) is currently 64.08%.
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American Electric Power 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 service areas of the Company’s public utility subsidiaries cover the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.
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