Huber Capital Management LLC Sells 4,500 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Huber Capital Management LLC decreased its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 16.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 22,100 shares of the company’s stock after selling 4,500 shares during the quarter. Huber Capital Management LLC’s holdings in American Electric Power were worth $1,869,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of American Electric Power by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 41,511,648 shares of the company’s stock worth $3,511,470,000 after buying an additional 390,025 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of American Electric Power by 3.4% during the 2nd quarter. Franklin Resources Inc. now owns 13,044,280 shares of the company’s stock worth $1,103,404,000 after purchasing an additional 424,769 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of American Electric Power by 3.0% during the 2nd quarter. Geode Capital Management LLC now owns 7,827,164 shares of the company’s stock worth $660,031,000 after purchasing an additional 226,075 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of American Electric Power by 6.9% during the 1st quarter. Ameriprise Financial Inc. now owns 7,323,391 shares of the company’s stock worth $620,283,000 after purchasing an additional 472,691 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its stake in shares of American Electric Power by 1.1% during the 1st quarter. Nuveen Asset Management LLC now owns 6,086,778 shares of the company’s stock worth $515,550,000 after purchasing an additional 68,026 shares during the last quarter. 73.60% of the stock is currently owned by institutional investors and hedge funds.

In other American Electric Power news, CEO Nicholas K. Akins sold 2,100 shares of the firm’s stock in a transaction on Wednesday, September 1st. The shares were sold at an average price of $89.76, for a total value of $188,496.00. Following the completion of the transaction, the chief executive officer now directly owns 98,672 shares of the company’s stock, valued at approximately $8,856,798.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.14% of the stock is owned by company insiders.

American Electric Power stock traded up $0.73 during mid-day trading on Thursday, reaching $84.19. The company’s stock had a trading volume of 106,956 shares, compared to its average volume of 2,874,208. American Electric Power Company, Inc. has a 12-month low of $74.80 and a 12-month high of $94.21. The company has a market capitalization of $42.12 billion, a P/E ratio of 17.72, a PEG ratio of 3.30 and a beta of 0.27. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.33 and a current ratio of 0.44. The firm’s fifty day moving average price is $86.90 and its two-hundred day moving average price is $86.45.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Wednesday, July 21st. The company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. American Electric Power had a net margin of 14.78% and a return on equity of 11.02%. The business had revenue of $3.80 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same period in the previous year, the business earned $1.08 EPS. American Electric Power’s revenue was up 8.6% compared to the same quarter last year. On average, research analysts predict that American Electric Power Company, Inc. will post 4.7 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 10th. Shareholders of record on Tuesday, August 10th were issued a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 3.52%. The ex-dividend date was Monday, August 9th. American Electric Power’s payout ratio is 66.67%.

Several equities research analysts have recently issued reports on the stock. Bank of America upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating and set a $86.88 price target for the company in a research note on Monday, July 26th. Wells Fargo & Company decreased their price target on shares of American Electric Power from $96.00 to $93.00 and set an “equal weight” rating for the company in a research note on Friday, July 23rd. Finally, Morgan Stanley decreased their price target on shares of American Electric Power from $110.00 to $108.00 and set an “overweight” rating for the company in a research note on Friday, September 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, American Electric Power currently has a consensus rating of “Buy” and a consensus price target of $94.99.

American Electric Power Profile

American Electric Power Co, Inc engages in the business of generation, transmission and distribution of electricity. It operates through the following segments: Vertically Integrated Utilities, Transmission & Distribution Utilities, AEP Transmission Holdco and Generation & Marketing. The Vertically Integrated Utilities segment engages in the generation, transmission and distribution of electricity for sale to retail and wholesale customers through assets owned and operated by its subsidiaries.

Further Reading: Earnings Reports

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Institutional Ownership by Quarter for American Electric Power (NASDAQ:AEP)

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