Signition LP Buys Shares of 5,867 American Electric Power Company Inc (AEP)
Signition LP bought a new position in American Electric Power Company Inc (NYSE:AEP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,867 shares of the utilities provider’s stock, valued at approximately $432,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Chicago Partners Investment Group LLC acquired a new stake in American Electric Power in the third quarter worth $113,000. Bank of Nova Scotia Trust Co. acquired a new stake in American Electric Power in the third quarter worth $140,000. WFG Advisors LP increased its position in American Electric Power by 36.3% in the second quarter. WFG Advisors LP now owns 2,039 shares of the utilities provider’s stock worth $142,000 after buying an additional 543 shares during the period. TCI Wealth Advisors Inc. increased its position in American Electric Power by 54.4% in the third quarter. TCI Wealth Advisors Inc. now owns 2,261 shares of the utilities provider’s stock worth $159,000 after buying an additional 797 shares during the period. Finally, Gradient Investments LLC acquired a new stake in American Electric Power in the fourth quarter worth $167,000. 70.74% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have weighed in on the company. Morgan Stanley set a $71.00 target price on American Electric Power and gave the stock a “buy” rating in a research report on Tuesday. Zacks Investment Research lowered American Electric Power from a “hold” rating to a “sell” rating in a research report on Tuesday. SunTrust Banks set a $75.00 target price on American Electric Power and gave the stock a “buy” rating in a research report on Monday. UBS Group assumed coverage on American Electric Power in a research report on Friday, February 2nd. They issued a “buy” rating and a $76.00 target price on the stock. Finally, Macquarie raised American Electric Power from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $75.00 to $76.00 in a research report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $74.36.
American Electric Power (NYSE:AEP) last issued its quarterly earnings results on Thursday, January 25th. The utilities provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.04. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.92 billion. American Electric Power had a return on equity of 10.05% and a net margin of 12.39%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period last year, the company earned $0.67 earnings per share. sell-side analysts predict that American Electric Power Company Inc will post 3.89 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 9th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date is Thursday, February 8th. American Electric Power’s dividend payout ratio (DPR) is 64.75%.
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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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