Trust Department MB Financial Bank N A lowered its holdings in shares of American Electric Power Company Inc (NYSE:AEP) by 19.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 975 shares of the utilities provider’s stock after selling 236 shares during the quarter. Trust Department MB Financial Bank N A’s holdings in American Electric Power were worth $73,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SevenBridge Financial Group LLC acquired a new stake in American Electric Power in the 3rd quarter valued at approximately $136,000. Private Capital Group LLC raised its position in American Electric Power by 83.9% in the 3rd quarter. Private Capital Group LLC now owns 2,082 shares of the utilities provider’s stock valued at $147,000 after buying an additional 950 shares during the last quarter. Valeo Financial Advisors LLC raised its position in American Electric Power by 59.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,145 shares of the utilities provider’s stock valued at $152,000 after buying an additional 799 shares during the last quarter. Girard Partners LTD. acquired a new stake in American Electric Power in the 3rd quarter valued at approximately $156,000. Finally, Belpointe Asset Management LLC acquired a new stake in American Electric Power in the 3rd quarter valued at approximately $162,000. 72.66% of the stock is currently owned by institutional investors.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research lowered American Electric Power from a “buy” rating to a “hold” rating in a research report on Tuesday, December 11th. Barclays lifted their target price on American Electric Power from $81.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, November 19th. ValuEngine raised American Electric Power from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Guggenheim lowered American Electric Power from a “buy” rating to a “neutral” rating in a research report on Monday. They noted that the move was a valuation call. Finally, Morgan Stanley reissued an “overweight” rating on shares of American Electric Power in a research report on Wednesday, September 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $76.41.
American Electric Power (NYSE:AEP) last released its quarterly earnings results on Thursday, October 25th. The utilities provider reported $1.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.05. The business had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.26 billion. American Electric Power had a return on equity of 10.78% and a net margin of 12.14%. During the same period last year, the firm posted $1.10 EPS. As a group, equities research analysts forecast that American Electric Power Company Inc will post 3.95 earnings per share for the current year.
In related news, insider Lisa M. Barton sold 881 shares of American Electric Power stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $77.55, for a total transaction of $68,321.55. Following the completion of the sale, the insider now directly owns 581 shares of the company’s stock, valued at approximately $45,056.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Paul Chodak III sold 847 shares of American Electric Power stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $76.47, for a total value of $64,770.09. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.
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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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