Nomura Holdings Inc. Increases Stock Position in American Electric Power Company Inc (NYSE:AEP)
Nomura Holdings Inc. raised its position in shares of American Electric Power Company Inc (NYSE:AEP) by 52.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 209,381 shares of the utilities provider’s stock after buying an additional 71,740 shares during the quarter. Nomura Holdings Inc.’s holdings in American Electric Power were worth $18,453,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Cobblestone Capital Advisors LLC NY raised its position in shares of American Electric Power by 144.2% in the 2nd quarter. Cobblestone Capital Advisors LLC NY now owns 8,468 shares of the utilities provider’s stock worth $745,000 after purchasing an additional 5,000 shares during the last quarter. Achmea Investment Management B.V. purchased a new position in American Electric Power in the 2nd quarter worth about $4,049,000. Coastal Capital Group Inc. purchased a new position in American Electric Power in the 2nd quarter worth about $145,000. Cornerstone Advisors Inc. raised its position in American Electric Power by 47.2% in the 1st quarter. Cornerstone Advisors Inc. now owns 546 shares of the utilities provider’s stock worth $46,000 after buying an additional 175 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. purchased a new position in American Electric Power in the 1st quarter worth about $319,000. 73.76% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on the company. Zacks Investment Research raised American Electric Power from a “sell” rating to a “hold” rating and set a $96.00 target price for the company in a research report on Thursday, July 11th. Morgan Stanley decreased their target price on American Electric Power from $93.00 to $91.00 and set an “equal weight” rating for the company in a research report on Friday, August 16th. Mizuho boosted their target price on American Electric Power from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Monday. Bank of America reissued a “buy” rating and issued a $98.00 target price (up previously from $93.00) on shares of American Electric Power in a research report on Tuesday, July 9th. Finally, SunTrust Banks boosted their target price on American Electric Power from $98.00 to $99.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $91.91.
Shares of American Electric Power stock traded down $0.04 during trading hours on Friday, reaching $93.14. 1,598,745 shares of the stock traded hands, compared to its average volume of 2,111,903. The company has a 50 day moving average price of $90.58 and a 200 day moving average price of $87.45. The firm has a market capitalization of $46.04 billion, a price-to-earnings ratio of 23.58, a P/E/G ratio of 3.96 and a beta of 0.11. American Electric Power Company Inc has a one year low of $68.92 and a one year high of $93.38. The company has a quick ratio of 0.36, a current ratio of 0.49 and a debt-to-equity ratio of 1.29.
American Electric Power (NYSE:AEP) last released its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.02. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $4.13 billion. American Electric Power had a return on equity of 10.69% and a net margin of 12.53%. The business’s quarterly revenue was down 10.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 EPS. Sell-side analysts anticipate that American Electric Power Company Inc will post 4.14 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a dividend of $0.67 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.88%. American Electric Power’s dividend payout ratio is currently 67.85%.
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.
Further Reading: What does a hold rating mean?
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