Gabelli Funds LLC Has $57.42 Million Holdings in American Electric Power Company, Inc. (AEP)
Gabelli Funds LLC decreased its holdings in American Electric Power Company, Inc. (NYSE:AEP) by 0.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 817,500 shares of the utilities provider’s stock after selling 2,000 shares during the quarter. Gabelli Funds LLC owned 0.17% of American Electric Power worth $57,421,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the business. Ledyard National Bank increased its holdings in American Electric Power by 52.6% in the 2nd quarter. Ledyard National Bank now owns 1,450 shares of the utilities provider’s stock valued at $101,000 after buying an additional 500 shares during the period. Point72 Asia Hong Kong Ltd acquired a new position in shares of American Electric Power in the 1st quarter worth approximately $105,000. Zions Bancorporation lifted its position in shares of American Electric Power by 1.3% during the 1st quarter. Zions Bancorporation now owns 1,680 shares of the utilities provider’s stock valued at $113,000 after acquiring an additional 21 shares during the period. Smithfield Trust Co. lifted its position in shares of American Electric Power by 8.1% during the 2nd quarter. Smithfield Trust Co. now owns 1,677 shares of the utilities provider’s stock valued at $117,000 after acquiring an additional 125 shares during the period. Finally, Thompson Davis & CO. Inc. raised its holdings in American Electric Power by 0.3% during the second quarter. Thompson Davis & CO. Inc. now owns 1,747 shares of the utilities provider’s stock worth $121,000 after buying an additional 6 shares during the last quarter. Institutional investors and hedge funds own 72.06% of the company’s stock.
American Electric Power Company, Inc. (NYSE AEP) traded up $0.79 during midday trading on Tuesday, reaching $74.53. The company had a trading volume of 520,946 shares, compared to its average volume of 2,050,000. American Electric Power Company, Inc. has a 52 week low of $57.89 and a 52 week high of $74.92. The company has a market cap of $36,660.00, a P/E ratio of 21.29, a price-to-earnings-growth ratio of 4.30 and a beta of 0.29. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.56 and a quick ratio of 0.43.
American Electric Power (NYSE:AEP) last released its quarterly earnings results on Thursday, October 26th. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.06). The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.42 billion. American Electric Power had a net margin of 12.21% and a return on equity of 9.67%. The company’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.30 earnings per share. equities research analysts anticipate that American Electric Power Company, Inc. will post 3.63 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 10th will be paid a dividend of $0.62 per share. This is an increase from American Electric Power’s previous quarterly dividend of $0.59. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend is Thursday, November 9th. American Electric Power’s payout ratio is currently 61.62%.
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Several analysts have recently issued reports on AEP shares. KeyCorp reiterated a “buy” rating and issued a $73.00 target price on shares of American Electric Power in a research note on Friday, September 1st. BidaskClub raised shares of American Electric Power from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Bank of America Corporation began coverage on shares of American Electric Power in a research note on Tuesday, October 24th. They issued a “buy” rating and a $79.00 target price on the stock. Morgan Stanley raised their target price on shares of American Electric Power from $71.00 to $73.00 and gave the company an “equal weight” rating in a research note on Thursday, August 10th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $71.00 target price on shares of American Electric Power in a research note on Monday, September 4th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $73.91.
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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