Tokio Marine Asset Management Co. Ltd. decreased its position in shares of American Electric Power Co. (NYSE:AEP) by 3.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,675 shares of the company’s stock after selling 584 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in American Electric Power were worth $1,029,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the stock. Bank of Montreal Can purchased a new stake in shares of American Electric Power during the second quarter worth approximately $261,970,000. State Street Corp raised its stake in shares of American Electric Power by 7.5% in the first quarter. State Street Corp now owns 25,117,238 shares of the company’s stock worth $1,667,787,000 after buying an additional 1,758,073 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in shares of American Electric Power during the first quarter worth approximately $84,599,000. Renaissance Technologies LLC raised its stake in shares of American Electric Power by 64.3% in the first quarter. Renaissance Technologies LLC now owns 2,332,500 shares of the company’s stock worth $154,878,000 after buying an additional 912,500 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of American Electric Power by 10.1% in the first quarter. JPMorgan Chase & Co. now owns 7,370,135 shares of the company’s stock worth $489,376,000 after buying an additional 678,053 shares during the last quarter. 68.74% of the stock is currently owned by hedge funds and other institutional investors.
Shares of American Electric Power Co. (NYSE:AEP) traded down 2.09% during midday trading on Tuesday, reaching $62.18. The company’s stock had a trading volume of 3,586,483 shares. The stock has a 50-day moving average price of $65.28 and a 200-day moving average price of $66.24. American Electric Power Co. has a 52-week low of $53.30 and a 52-week high of $71.32. The stock has a market cap of $30.57 billion, a price-to-earnings ratio of 15.35 and a beta of 0.23.
American Electric Power (NYSE:AEP) last issued its earnings results on Thursday, July 28th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.05. The company earned $3.90 billion during the quarter, compared to analysts’ expectations of $4.01 billion. American Electric Power had a return on equity of 9.54% and a net margin of 12.50%. American Electric Power’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.88 EPS. Equities research analysts anticipate that American Electric Power Co. will post $3.69 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Wednesday, August 10th were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.60%. American Electric Power’s dividend payout ratio is presently 55.17%.
AEP has been the topic of a number of recent research reports. Citigroup Inc. lifted their price target on American Electric Power from $68.00 to $69.00 and gave the company a “neutral” rating in a research note on Thursday, September 8th. KeyCorp reissued an “outperform” rating and set a $72.50 price target (up from $69.00) on shares of American Electric Power in a research note on Saturday, July 2nd. Hilliard Lyons downgraded American Electric Power from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. Jefferies Group raised their price objective on American Electric Power from $75.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Finally, Goldman Sachs Group Inc. upgraded American Electric Power from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $71.00 to $73.00 in a research report on Tuesday, July 26th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $67.39.
About American Electric Power
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 Company’s segments include Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing.
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