Moody National Bank Trust Division lessened its position in American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 3.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,931 shares of the company’s stock after selling 528 shares during the quarter. Moody National Bank Trust Division’s holdings in American Electric Power were worth $1,341,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in shares of American Electric Power by 5.1% during the first quarter. Wellington Management Group LLP now owns 24,171,020 shares of the company’s stock worth $2,199,321,000 after acquiring an additional 1,176,207 shares in the last quarter. Morgan Stanley boosted its holdings in American Electric Power by 23.7% in the 4th quarter. Morgan Stanley now owns 13,357,327 shares of the company’s stock valued at $1,268,278,000 after purchasing an additional 2,560,192 shares during the period. Geode Capital Management LLC raised its stake in shares of American Electric Power by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 10,209,355 shares of the company’s stock valued at $967,570,000 after buying an additional 73,877 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of American Electric Power by 2.7% during the 4th quarter. Franklin Resources Inc. now owns 6,364,084 shares of the company’s stock valued at $604,270,000 after acquiring an additional 166,517 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in American Electric Power by 3.8% in the fourth quarter. Wells Fargo & Company MN now owns 4,804,670 shares of the company’s stock valued at $456,203,000 after acquiring an additional 176,310 shares during the period. Institutional investors and hedge funds own 74.68% of the company’s stock.
Analyst Ratings Changes
AEP has been the topic of several research analyst reports. The Goldman Sachs Group initiated coverage on shares of American Electric Power in a research note on Wednesday, June 7th. They set a “buy” rating and a $98.00 price objective on the stock. Royal Bank of Canada cut their price target on American Electric Power from $103.00 to $89.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 6th. UBS Group cut American Electric Power from a “buy” rating to a “neutral” rating and lowered their price target for the company from $105.00 to $92.00 in a research note on Tuesday, June 6th. StockNews.com upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Barclays assumed coverage on shares of American Electric Power in a report on Wednesday, August 23rd. They issued an “overweight” rating and a $88.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $94.97.
American Electric Power Price Performance
Shares of NASDAQ AEP opened at $80.04 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.61 and a debt-to-equity ratio of 1.52. The business’s 50 day moving average price is $81.65 and its two-hundred day moving average price is $85.88. The company has a market cap of $41.23 billion, a PE ratio of 20.74, a price-to-earnings-growth ratio of 2.69 and a beta of 0.46. American Electric Power Company, Inc. has a twelve month low of $75.47 and a twelve month high of $101.15.
American Electric Power (NASDAQ:AEP – Get Free Report) last issued its quarterly earnings data on Thursday, July 27th. The company reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.01). The company had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.70 billion. American Electric Power had a return on equity of 10.44% and a net margin of 10.20%. The company’s revenue was down 5.8% on a year-over-year basis. During the same quarter last year, the business earned $1.20 earnings per share. On average, analysts predict that American Electric Power Company, Inc. will post 5.26 EPS for the current year.
American Electric Power Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Thursday, August 10th were issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend was Wednesday, August 9th. American Electric Power’s dividend payout ratio (DPR) is currently 86.01%.
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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.
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