Whittier Trust Co. raised its stake in American Electric Power Co. (NYSE:AEP) by 3.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 129,433 shares of the company’s stock after buying an additional 4,339 shares during the period. Whittier Trust Co.’s holdings in American Electric Power were worth $9,072,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Tompkins Financial Corp acquired a new position in American Electric Power during the second quarter valued at $120,000. Zions Bancorporation boosted its position in American Electric Power by 7.7% in the first quarter. Zions Bancorporation now owns 1,747 shares of the company’s stock valued at $115,000 after buying an additional 125 shares in the last quarter. Quadrant Capital Group LLC boosted its position in American Electric Power by 1.1% in the second quarter. Quadrant Capital Group LLC now owns 2,841 shares of the company’s stock valued at $191,000 after buying an additional 30 shares in the last quarter. Headinvest LLC acquired a new position in American Electric Power during the second quarter valued at $202,000. Finally, CrestPoint Capital Management LLC acquired a new position in American Electric Power during the second quarter valued at $217,000. 68.74% of the stock is owned by institutional investors and hedge funds.
Shares of American Electric Power Co. (NYSE:AEP) remained flat at $62.18 on Wednesday. 3,825,763 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $65.28 and its 200 day moving average price is $66.24. American Electric Power Co. has a 52-week low of $53.30 and a 52-week high of $71.32. The firm has a market capitalization of $30.57 billion, a P/E ratio of 15.35 and a beta of 0.23.
American Electric Power (NYSE:AEP) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.05. The firm earned $3.90 billion during the quarter, compared to the consensus estimate of $4.01 billion. American Electric Power had a net margin of 12.50% and a return on equity of 9.54%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the business posted $0.88 earnings per share. Analysts forecast that American Electric Power Co. will post $3.69 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Wednesday, August 10th were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.60%. American Electric Power’s payout ratio is 55.17%.
Several equities analysts have commented on AEP shares. Barclays PLC upped their price target on American Electric Power from $75.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, July 29th. Citigroup Inc. upped their price target on American Electric Power from $61.00 to $68.00 and gave the company a “neutral” rating in a report on Wednesday, July 20th. Zacks Investment Research cut American Electric Power from a “buy” rating to a “hold” rating in a report on Wednesday, September 14th. Morgan Stanley reaffirmed a “hold” rating on shares of American Electric Power in a report on Wednesday, June 15th. Finally, Jefferies Group cut American Electric Power from a “buy” rating to a “hold” rating and cut their price target for the company from $77.00 to $67.00 in a report on Tuesday, September 20th. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $67.39.
American Electric Power Company 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 Company’s segments include Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing.
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