Raymond James Trust N.A. cut its holdings in American Electric Power Company, Inc. (NASDAQ:AEP – Get Rating) by 12.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,869 shares of the company’s stock after selling 3,573 shares during the period. Raymond James Trust N.A.’s holdings in American Electric Power were worth $2,386,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of American Electric Power by 5.4% during the first quarter. Vanguard Group Inc. now owns 45,377,335 shares of the company’s stock valued at $4,527,297,000 after buying an additional 2,305,001 shares during the last quarter. State Street Corp raised its position in shares of American Electric Power by 8.8% during the first quarter. State Street Corp now owns 27,777,603 shares of the company’s stock valued at $2,771,371,000 after buying an additional 2,256,671 shares during the last quarter. BlackRock Inc. raised its position in shares of American Electric Power by 4.8% during the fourth quarter. BlackRock Inc. now owns 41,461,321 shares of the company’s stock valued at $3,688,814,000 after buying an additional 1,910,807 shares during the last quarter. Jennison Associates LLC acquired a new position in shares of American Electric Power during the first quarter valued at about $100,500,000. Finally, Marshall Wace LLP raised its position in shares of American Electric Power by 1,477.3% during the fourth quarter. Marshall Wace LLP now owns 1,066,861 shares of the company’s stock valued at $94,919,000 after buying an additional 999,221 shares during the last quarter. 74.70% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research analysts have recently commented on AEP shares. Citigroup upped their price objective on shares of American Electric Power from $94.00 to $99.00 in a research report on Thursday, July 28th. Credit Suisse Group increased their price target on shares of American Electric Power from $103.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, July 28th. Morgan Stanley dropped their price target on shares of American Electric Power from $118.00 to $116.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Evercore ISI increased their price target on shares of American Electric Power to $107.00 in a research report on Monday, August 15th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, American Electric Power currently has an average rating of “Moderate Buy” and an average target price of $105.43.
American Electric Power Stock Performance
American Electric Power (NASDAQ:AEP – Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.01. The company had revenue of $4.60 billion during the quarter, compared to analyst estimates of $3.98 billion. American Electric Power had a net margin of 14.39% and a return on equity of 10.46%. The company’s revenue was up 21.1% on a year-over-year basis. During the same quarter last year, the business posted $1.18 earnings per share. On average, equities analysts forecast that American Electric Power Company, Inc. will post 4.99 earnings per share for the current fiscal year.
American Electric Power Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Wednesday, August 10th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Tuesday, August 9th. American Electric Power’s payout ratio is 61.30%.
American Electric Power Company Profile
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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.
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