Majedie Asset Management Ltd Increases Stake in American Electric Power Company, Inc. (AEP)

Majedie Asset Management Ltd boosted its position in American Electric Power Company, Inc. (NYSE:AEP) by 89.2% during the second quarter, Holdings Channel reports. The institutional investor owned 171,710 shares of the utilities provider’s stock after buying an additional 80,972 shares during the period. American Electric Power accounts for about 1.1% of Majedie Asset Management Ltd’s holdings, making the stock its 24th largest position. Majedie Asset Management Ltd’s holdings in American Electric Power were worth $11,929,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Ledyard National Bank increased its stake in American Electric Power by 52.6% in the second quarter. Ledyard National Bank now owns 1,450 shares of the utilities provider’s stock worth $101,000 after buying an additional 500 shares in the last quarter. Point72 Asia Hong Kong Ltd purchased a new stake in American Electric Power during the first quarter worth approximately $105,000. Chicago Partners Investment Group LLC increased its stake in American Electric Power by 0.3% in the first quarter. Chicago Partners Investment Group LLC now owns 1,599 shares of the utilities provider’s stock worth $107,000 after buying an additional 5 shares in the last quarter. Zions Bancorporation increased its stake in American Electric Power by 1.3% in the first quarter. Zions Bancorporation now owns 1,680 shares of the utilities provider’s stock worth $113,000 after buying an additional 21 shares in the last quarter. Finally, Thompson Davis & CO. Inc. increased its stake in American Electric Power by 0.3% in the first quarter. Thompson Davis & CO. Inc. now owns 1,741 shares of the utilities provider’s stock worth $117,000 after buying an additional 6 shares in the last quarter. 70.83% of the stock is currently owned by institutional investors.

American Electric Power Company, Inc. (NYSE:AEP) opened at 71.36 on Friday. American Electric Power Company, Inc. has a one year low of $57.89 and a one year high of $72.97. The stock has a market cap of $35.10 billion, a P/E ratio of 61.41 and a beta of 0.30. The stock’s 50 day moving average price is $69.90 and its 200-day moving average price is $68.03.

American Electric Power (NYSE:AEP) last issued its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.75 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by $0.07. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.70 billion. American Electric Power had a return on equity of 10.32% and a net margin of 3.60%. During the same period in the previous year, the business posted $0.95 EPS. On average, analysts predict that American Electric Power Company, Inc. will post $3.66 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 10th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Tuesday, August 8th. American Electric Power’s payout ratio is presently 203.45%.

ILLEGAL ACTIVITY WARNING: “Majedie Asset Management Ltd Increases Stake in American Electric Power Company, Inc. (AEP)” was first reported by Ticker Report and is owned by of Ticker Report. If you are accessing this story on another site, it was illegally stolen and reposted in violation of United States & international copyright laws. The legal version of this story can be accessed at https://www.tickerreport.com/banking-finance/2801923/majedie-asset-management-ltd-increases-stake-in-american-electric-power-company-inc-aep.html.

A number of research firms have recently commented on AEP. Morgan Stanley boosted their price objective on American Electric Power from $71.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Thursday. BidaskClub raised American Electric Power from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Royal Bank Of Canada reaffirmed a “hold” rating and set a $71.00 target price on shares of American Electric Power in a research report on Wednesday, August 2nd. Zacks Investment Research raised American Electric Power from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $75.00 target price (up from $73.00) on shares of American Electric Power in a research report on Friday, July 28th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $72.17.

In related news, insider Paul Chodak III sold 1,110 shares of the firm’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $68.20, for a total transaction of $75,702.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.15% of the company’s stock.

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 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.

Want to see what other hedge funds are holding AEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Electric Power Company, Inc. (NYSE:AEP).

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

Receive News & Ratings for American Electric Power Company Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Electric Power Company Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.