Arizona State Retirement System cut its position in shares of American Electric Power Company Inc (NYSE:AEP) by 8.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 141,743 shares of the utilities provider’s stock after selling 13,111 shares during the period. Arizona State Retirement System’s holdings in American Electric Power were worth $11,871,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Morgan Stanley boosted its stake in shares of American Electric Power by 24.0% during the 3rd quarter. Morgan Stanley now owns 3,695,743 shares of the utilities provider’s stock worth $261,954,000 after purchasing an additional 714,473 shares during the period. QUANTRES ASSET MANAGEMENT Ltd boosted its position in American Electric Power by 186.2% in the 1st quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 8,300 shares of the utilities provider’s stock valued at $695,000 after buying an additional 5,400 shares during the period. Commonwealth Bank of Australia boosted its position in American Electric Power by 124.6% in the 4th quarter. Commonwealth Bank of Australia now owns 3,681,416 shares of the utilities provider’s stock valued at $275,134,000 after buying an additional 2,042,518 shares during the period. Orrstown Financial Services Inc. boosted its position in American Electric Power by 1,778.1% in the 1st quarter. Orrstown Financial Services Inc. now owns 6,949 shares of the utilities provider’s stock valued at $582,000 after buying an additional 6,579 shares during the period. Finally, First Midwest Bank Trust Division boosted its position in American Electric Power by 0.8% in the 4th quarter. First Midwest Bank Trust Division now owns 21,327 shares of the utilities provider’s stock valued at $1,594,000 after buying an additional 176 shares during the period. 73.99% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on AEP shares. JPMorgan Chase & Co. set a $78.00 price objective on shares of American Electric Power and gave the company a “hold” rating in a research report on Friday, January 25th. Morgan Stanley boosted their price objective on shares of American Electric Power from $81.00 to $84.00 and gave the company an “overweight” rating in a research report on Tuesday, February 12th. Wolfe Research set a $89.00 price objective on shares of American Electric Power and gave the company a “buy” rating in a research report on Friday, April 26th. Wells Fargo & Co boosted their price target on shares of American Electric Power from $89.00 to $93.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Finally, Goldman Sachs Group lowered shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $78.00 price target for the company. in a report on Monday, April 8th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $81.63.
Shares of NYSE AEP traded up $0.68 during trading hours on Wednesday, hitting $87.29. 1,765,852 shares of the stock were exchanged, compared to its average volume of 2,643,009. The company has a quick ratio of 0.37, a current ratio of 0.49 and a debt-to-equity ratio of 1.19. The firm has a market cap of $42.72 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 3.68 and a beta of 0.17. American Electric Power Company Inc has a 12 month low of $62.71 and a 12 month high of $87.37.
American Electric Power (NYSE:AEP) last posted its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.19 EPS for the quarter, topping the consensus estimate of $1.10 by $0.09. American Electric Power had a net margin of 12.64% and a return on equity of 10.81%. The firm had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.23 billion. During the same quarter in the previous year, the business posted $0.96 EPS. American Electric Power’s revenue was up 2.5% on a year-over-year basis. On average, equities research analysts anticipate that American Electric Power Company Inc will post 4.12 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.67 per share. The ex-dividend date is Thursday, May 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.07%. American Electric Power’s payout ratio is 67.85%.
In other American Electric Power news, CEO Nicholas K. Akins sold 11,152 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $84.94, for a total transaction of $947,250.88. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David Matthew Feinberg sold 4,535 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $85.72, for a total transaction of $388,740.20. Following the completion of the sale, the executive vice president now directly owns 9,674 shares in the company, valued at $829,255.28. The disclosure for this sale can be found here. Insiders have sold a total of 21,582 shares of company stock worth $1,842,763 in the last 90 days. 0.16% of the stock is currently owned by company insiders.
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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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.
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