1 North Wealth Services LLC acquired a new stake in American Electric Power Company Inc (NYSE:AEP) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,344 shares of the utilities provider’s stock, valued at approximately $100,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AEP. Orrstown Financial Services Inc. bought a new position in American Electric Power during the 4th quarter worth about $28,000. Arlington Partners LLC bought a new position in American Electric Power during the 4th quarter worth about $30,000. Quantamental Technologies LLC bought a new position in American Electric Power during the 4th quarter worth about $30,000. Mondrian Investment Partners LTD bought a new position in American Electric Power during the 4th quarter worth about $38,000. Finally, Mackey Komara & Dankovich LLC bought a new position in American Electric Power during the 4th quarter worth about $49,000. Institutional investors and hedge funds own 73.49% of the company’s stock.
A number of research firms have issued reports on AEP. ValuEngine upgraded American Electric Power from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Barclays increased their target price on American Electric Power from $81.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, November 19th. Morgan Stanley increased their target price on American Electric Power from $81.00 to $84.00 and gave the stock an “overweight” rating in a report on Tuesday. Zacks Investment Research cut American Electric Power from a “buy” rating to a “hold” rating in a report on Thursday, November 29th. Finally, Bank of America increased their target price on American Electric Power from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, October 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $77.50.
Shares of NYSE AEP opened at $79.55 on Thursday. The stock has a market capitalization of $39.60 billion, a PE ratio of 20.14, a P/E/G ratio of 3.37 and a beta of 0.17. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.48 and a quick ratio of 0.46. American Electric Power Company Inc has a fifty-two week low of $62.71 and a fifty-two week high of $81.05.
American Electric Power (NYSE:AEP) last announced its quarterly earnings data on Thursday, January 24th. The utilities provider reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.01. The company had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.97 billion. American Electric Power had a return on equity of 10.33% and a net margin of 11.91%. American Electric Power’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 EPS. As a group, sell-side analysts forecast that American Electric Power Company Inc will post 4.12 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 8th. Stockholders of record on Friday, February 8th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Thursday, February 7th. American Electric Power’s payout ratio is 67.85%.
In other news, insider Lisa M. Barton sold 881 shares of the firm’s stock in a transaction dated Tuesday, November 20th. The stock was sold at an average price of $77.55, for a total value of $68,321.55. Following the completion of the transaction, the insider now owns 581 shares in the company, valued at approximately $45,056.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is owned by company insiders.
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About American Electric Power
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.
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