Community Trust & Investment Co. grew its position in American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 8.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,283 shares of the company’s stock after buying an additional 2,860 shares during the quarter. Community Trust & Investment Co.’s holdings in American Electric Power were worth $3,139,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also modified their holdings of the company. ASB Consultores LLC increased its holdings in American Electric Power by 4.7% in the fourth quarter. ASB Consultores LLC now owns 2,561 shares of the company’s stock valued at $243,000 after buying an additional 114 shares during the last quarter. Buckingham Capital Management Inc. raised its position in shares of American Electric Power by 0.4% during the 1st quarter. Buckingham Capital Management Inc. now owns 29,229 shares of the company’s stock worth $2,660,000 after acquiring an additional 114 shares in the last quarter. Jaffetilchin Investment Partners LLC lifted its stake in American Electric Power by 2.0% during the first quarter. Jaffetilchin Investment Partners LLC now owns 6,010 shares of the company’s stock worth $592,000 after purchasing an additional 117 shares during the last quarter. Marino Stram & Associates LLC boosted its holdings in American Electric Power by 1.0% in the first quarter. Marino Stram & Associates LLC now owns 11,985 shares of the company’s stock valued at $1,091,000 after purchasing an additional 119 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in American Electric Power by 0.4% in the third quarter. Thrivent Financial for Lutherans now owns 28,284 shares of the company’s stock valued at $2,445,000 after purchasing an additional 119 shares during the last quarter. 74.68% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on AEP. The Goldman Sachs Group began coverage on shares of American Electric Power in a research report on Wednesday, June 7th. They set a “buy” rating and a $98.00 price objective for the company. StockNews.com raised American Electric Power from a “sell” rating to a “hold” rating in a report on Saturday. Morgan Stanley cut their target price on American Electric Power from $101.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 23rd. Royal Bank of Canada decreased their target price on American Electric Power from $103.00 to $89.00 and set an “outperform” rating for the company in a research report on Wednesday, September 6th. Finally, Mizuho cut their price target on American Electric Power from $94.00 to $93.00 in a research report on Thursday, July 6th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, American Electric Power currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.83.
American Electric Power Stock Performance
American Electric Power stock traded up $0.15 during trading hours on Tuesday, reaching $80.38. 348,528 shares of the stock were exchanged, compared to its average volume of 2,904,072. The stock has a market cap of $41.41 billion, a P/E ratio of 20.78, a P/E/G ratio of 2.71 and a beta of 0.46. The firm’s 50 day moving average is $81.57 and its 200 day moving average is $85.71. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.48 and a current ratio of 0.61. American Electric Power Company, Inc. has a 52-week low of $75.47 and a 52-week high of $101.12.
American Electric Power (NASDAQ:AEP – Get Free Report) last announced its quarterly earnings data on Thursday, July 27th. The company reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.01). American Electric Power had a net margin of 10.20% and a return on equity of 10.44%. The firm had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the previous year, the business earned $1.20 EPS. American Electric Power’s revenue for the quarter was down 5.8% on a year-over-year basis. Analysts predict that American Electric Power Company, Inc. will post 5.26 EPS for the current fiscal year.
American Electric Power Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Thursday, August 10th were issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend was Wednesday, August 9th. American Electric Power’s dividend payout ratio (DPR) is currently 86.01%.
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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.
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