AMG National Trust Bank bought a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP – Get Rating) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,375 shares of the company’s stock, valued at approximately $292,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Fairfield Bush & CO. purchased a new stake in American Electric Power during the 1st quarter valued at $40,000. Westwood Holdings Group Inc. purchased a new stake in American Electric Power during the 1st quarter valued at $211,000. Cibc World Market Inc. raised its holdings in American Electric Power by 13.1% during the 1st quarter. Cibc World Market Inc. now owns 30,809 shares of the company’s stock valued at $3,074,000 after buying an additional 3,558 shares during the period. Sei Investments Co. raised its holdings in American Electric Power by 17.7% during the 1st quarter. Sei Investments Co. now owns 205,440 shares of the company’s stock valued at $20,569,000 after buying an additional 30,836 shares during the period. Finally, Cetera Investment Advisers raised its holdings in American Electric Power by 1.6% during the 1st quarter. Cetera Investment Advisers now owns 36,515 shares of the company’s stock valued at $3,643,000 after buying an additional 577 shares during the period. 74.33% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of analysts have weighed in on the company. Cfra reduced their target price on American Electric Power from $105.00 to $93.00 and set a “hold” rating on the stock in a research note on Thursday, October 27th. Wells Fargo & Company increased their target price on American Electric Power from $96.00 to $108.00 in a research note on Wednesday, December 14th. Mizuho reduced their target price on American Electric Power from $104.00 to $101.00 and set a “buy” rating on the stock in a research note on Friday, December 16th. Morgan Stanley increased their target price on American Electric Power from $104.00 to $110.00 and gave the stock an “overweight” rating in a research note on Thursday, December 15th. Finally, StockNews.com assumed coverage on American Electric Power in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, American Electric Power currently has a consensus rating of “Moderate Buy” and an average price target of $101.82.
American Electric Power Stock Performance
American Electric Power (NASDAQ:AEP – Get Rating) last announced its quarterly earnings results on Thursday, October 27th. The company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.57 by $0.05. The firm had revenue of $5.50 billion for the quarter, compared to analyst estimates of $4.75 billion. American Electric Power had a return on equity of 10.73% and a net margin of 13.08%. The business’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.43 earnings per share. On average, equities research analysts expect that American Electric Power Company, Inc. will post 5.03 earnings per share for the current fiscal year.
American Electric Power Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 10th. Investors of record on Friday, February 10th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.58%. American Electric Power’s payout ratio is currently 68.74%.
American Electric Power Company Profile
American Electric Power Co, Inc engages in the generation, transmission, and distribution of electricity. It operates through the following segments: Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation and Marketing. The Vertically Integrated Utilities segment covers the generation, transmission, and distribution of electricity for sale to retail and wholesale customers.
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