Seelaus Asset Management LLC reduced its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP – Get Rating) by 9.7% in the first quarter, Holdings Channel reports. The fund owned 5,600 shares of the company’s stock after selling 600 shares during the quarter. Seelaus Asset Management LLC’s holdings in American Electric Power were worth $559,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of AEP. WBH Advisory Inc. lifted its position in American Electric Power by 3.7% in the fourth quarter. WBH Advisory Inc. now owns 7,265 shares of the company’s stock worth $646,000 after buying an additional 262 shares during the last quarter. Russell Investments Group Ltd. lifted its position in American Electric Power by 24.3% in the fourth quarter. Russell Investments Group Ltd. now owns 360,062 shares of the company’s stock worth $32,030,000 after buying an additional 70,425 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its position in American Electric Power by 17.6% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 57,510 shares of the company’s stock worth $5,117,000 after buying an additional 8,625 shares during the last quarter. National Pension Service lifted its position in American Electric Power by 1.9% in the third quarter. National Pension Service now owns 870,032 shares of the company’s stock worth $70,629,000 after buying an additional 16,408 shares during the last quarter. Finally, Eastover Investment Advisors LLC lifted its position in American Electric Power by 2.4% in the fourth quarter. Eastover Investment Advisors LLC now owns 50,994 shares of the company’s stock worth $4,537,000 after buying an additional 1,219 shares during the last quarter. Hedge funds and other institutional investors own 73.26% of the company’s stock.
A number of brokerages recently issued reports on AEP. Wells Fargo & Company upgraded American Electric Power from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $93.00 to $101.00 in a research report on Monday, February 28th. Seaport Res Ptn downgraded American Electric Power from a “buy” rating to a “neutral” rating in a research report on Monday, March 14th. Royal Bank of Canada lifted their target price on American Electric Power from $101.00 to $106.00 and gave the stock an “outperform” rating in a research report on Monday, March 7th. StockNews.com started coverage on American Electric Power in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Credit Suisse Group started coverage on American Electric Power in a research report on Monday, April 25th. They set an “outperform” rating and a $113.00 target price for the company. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $103.98.
AEP stock opened at $90.31 on Thursday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.61 and a quick ratio of 0.54. The company has a market capitalization of $46.38 billion, a P/E ratio of 17.27, a PEG ratio of 2.90 and a beta of 0.34. The business has a 50-day moving average price of $99.02 and a 200 day moving average price of $94.36. American Electric Power Company, Inc. has a 1-year low of $80.22 and a 1-year high of $104.81.
American Electric Power (NASDAQ:AEP – Get Rating) last posted its quarterly earnings results on Thursday, April 28th. The company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.19 by $0.03. American Electric Power had a net margin of 15.34% and a return on equity of 10.65%. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same quarter in the previous year, the business posted $1.15 EPS. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, analysts anticipate that American Electric Power Company, Inc. will post 5.01 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Tuesday, May 10th were issued a $0.78 dividend. The ex-dividend date of this dividend was Monday, May 9th. This represents a $3.12 annualized dividend and a dividend yield of 3.45%. American Electric Power’s dividend payout ratio is currently 59.66%.
American Electric Power Profile (Get Rating)
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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