Tower Research Capital LLC TRC cut its stake in shares of American Electric Power Company Inc (NYSE:AEP) by 11.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,064 shares of the utilities provider’s stock after selling 1,351 shares during the period. Tower Research Capital LLC TRC’s holdings in American Electric Power were worth $886,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AEP. IMA Wealth Inc. bought a new position in shares of American Electric Power during the second quarter valued at approximately $30,000. JJJ Advisors Inc. bought a new position in American Electric Power in the second quarter worth approximately $31,000. Glassman Wealth Services grew its stake in American Electric Power by 138.0% in the first quarter. Glassman Wealth Services now owns 388 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 225 shares in the last quarter. Weaver Consulting Group bought a new position in American Electric Power in the first quarter worth approximately $32,000. Finally, Tarbox Family Office Inc. grew its stake in American Electric Power by 38.9% in the second quarter. Tarbox Family Office Inc. now owns 436 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 122 shares in the last quarter. Institutional investors own 73.76% of the company’s stock.
Shares of NYSE:AEP traded up $0.51 during trading on Monday, reaching $92.05. 1,075,293 shares of the company’s stock traded hands, compared to its average volume of 2,022,946. American Electric Power Company Inc has a fifty-two week low of $68.92 and a fifty-two week high of $93.23. The company has a quick ratio of 0.36, a current ratio of 0.49 and a debt-to-equity ratio of 1.29. The firm has a market cap of $45.44 billion, a PE ratio of 23.30, a P/E/G ratio of 3.93 and a beta of 0.11. The company has a 50-day simple moving average of $90.19 and a 200-day simple moving average of $87.11.
American Electric Power (NYSE:AEP) last posted its earnings results on Thursday, July 25th. The utilities provider reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.02. American Electric Power had a return on equity of 10.69% and a net margin of 12.53%. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same period last year, the firm earned $1.01 EPS. The company’s quarterly revenue was down 10.0% on a year-over-year basis. On average, equities research analysts forecast that American Electric Power Company Inc will post 4.13 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend was Thursday, August 8th. American Electric Power’s dividend payout ratio (DPR) is 67.85%.
In other American Electric Power news, VP Brian X. Tierney sold 4,458 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $89.73, for a total value of $400,016.34. Following the transaction, the vice president now directly owns 39,745 shares of the company’s stock, valued at approximately $3,566,318.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charles E. Zebula sold 1,216 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $90.98, for a total transaction of $110,631.68. Following the completion of the transaction, the insider now directly owns 7,420 shares in the company, valued at $675,071.60. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.
Several research analysts recently issued reports on AEP shares. KeyCorp started coverage on American Electric Power in a research note on Tuesday, June 4th. They issued a “sector weight” rating on the stock. Bank of America reiterated a “buy” rating and set a $98.00 price objective (up previously from $93.00) on shares of American Electric Power in a report on Tuesday, July 9th. Zacks Investment Research upgraded American Electric Power from a “sell” rating to a “hold” rating and set a $96.00 price objective for the company in a report on Thursday, July 11th. SunTrust Banks increased their price objective on American Electric Power from $98.00 to $99.00 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, Morgan Stanley decreased their price objective on American Electric Power from $93.00 to $91.00 and set an “equal weight” rating for the company in a report on Friday, August 16th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. American Electric Power has an average rating of “Buy” and a consensus target price of $89.82.
American Electric Power 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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