US Bancorp DE trimmed its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 4.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 238,423 shares of the company’s stock after selling 11,817 shares during the quarter. US Bancorp DE’s holdings in American Electric Power were worth $20,075,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Jaffetilchin Investment Partners LLC grew its stake in shares of 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 acquiring an additional 117 shares during the last quarter. Carmel Capital Partners LLC increased its stake in American Electric Power by 4.4% during the 2nd quarter. Carmel Capital Partners LLC now owns 2,846 shares of the company’s stock valued at $240,000 after purchasing an additional 119 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of American Electric Power by 0.4% in the third quarter. Thrivent Financial for Lutherans now owns 28,284 shares of the company’s stock worth $2,445,000 after buying an additional 119 shares during the last quarter. Horizon Bancorp Inc. IN lifted its stake in shares of American Electric Power by 66.7% during the first quarter. Horizon Bancorp Inc. IN now owns 300 shares of the company’s stock worth $27,000 after buying an additional 120 shares during the period. Finally, Gateway Wealth Partners LLC increased its position in shares of American Electric Power by 2.5% in the 1st quarter. Gateway Wealth Partners LLC now owns 5,268 shares of the company’s stock valued at $479,000 after acquiring an additional 127 shares during the period. Institutional investors own 74.68% of the company’s stock.
Analyst Upgrades and Downgrades
AEP has been the topic of a number of research reports. Guggenheim cut their price objective on American Electric Power from $96.00 to $85.00 in a report on Monday, October 9th. JPMorgan Chase & Co. decreased their target price on shares of American Electric Power from $96.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday, October 12th. 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 report on Wednesday, September 6th. Morgan Stanley dropped their target price on American Electric Power from $97.00 to $93.00 and set an “overweight” rating on the stock in a report on Wednesday, October 25th. Finally, Cfra lowered their price objective on American Electric Power from $99.00 to $94.00 and set a “buy” rating on the stock in a research report on Monday, September 18th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, American Electric Power has an average rating of “Moderate Buy” and a consensus price target of $91.37.
American Electric Power Stock Up 0.0 %
AEP stock opened at $77.39 on Friday. American Electric Power Company, Inc. has a one year low of $69.38 and a one year high of $100.32. The firm has a market cap of $40.70 billion, a PE ratio of 17.75, a PEG ratio of 3.00 and a beta of 0.49. The firm’s 50 day moving average price is $76.38 and its 200-day moving average price is $80.95. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.44 and a current ratio of 0.60.
American Electric Power (NASDAQ:AEP – Get Free Report) last posted its earnings results on Thursday, November 2nd. The company reported $1.77 earnings per share for the quarter, missing the consensus estimate of $1.85 by ($0.08). American Electric Power had a net margin of 11.72% and a return on equity of 10.73%. The company had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter last year, the business posted $1.62 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities research analysts anticipate that American Electric Power Company, Inc. will post 5.27 EPS for the current year.
American Electric Power Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 10th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $3.52 dividend on an annualized basis and a yield of 4.55%. This is a boost from American Electric Power’s previous quarterly dividend of $0.83. American Electric Power’s payout ratio is currently 80.73%.
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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.
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