Meeder Asset Management Inc. grew its stake in American Electric Power Company Inc (NYSE:AEP) by 212.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,683 shares of the utilities provider’s stock after purchasing an additional 11,350 shares during the quarter. Meeder Asset Management Inc.’s holdings in American Electric Power were worth $1,227,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Chicago Partners Investment Group LLC bought a new stake in shares of American Electric Power in the 3rd quarter valued at $113,000. Bank of Nova Scotia Trust Co. bought a new stake in shares of American Electric Power in the 3rd quarter valued at $140,000. WFG Advisors LP increased its position in shares of American Electric Power by 36.3% in the 2nd quarter. WFG Advisors LP now owns 2,039 shares of the utilities provider’s stock valued at $142,000 after buying an additional 543 shares in the last quarter. TCI Wealth Advisors Inc. increased its position in shares of American Electric Power by 54.4% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 2,261 shares of the utilities provider’s stock valued at $159,000 after buying an additional 797 shares in the last quarter. Finally, Global Trust Asset Management LLC bought a new stake in shares of American Electric Power in the 4th quarter valued at $182,000. 71.12% of the stock is currently owned by institutional investors.
A number of analysts recently commented on AEP shares. Zacks Investment Research upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a research report on Tuesday, January 2nd. SunTrust Banks restated a “buy” rating and issued a $78.00 price objective on shares of American Electric Power in a research report on Tuesday, January 9th. Guggenheim cut shares of American Electric Power from a “neutral” rating to a “sell” rating in a research report on Tuesday, January 2nd. Macquarie upgraded shares of American Electric Power from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $75.00 to $76.00 in a research report on Monday, January 22nd. Finally, Deutsche Bank upgraded shares of American Electric Power from a “hold” rating to a “buy” rating and upped their price objective for the company from $68.25 to $75.00 in a research report on Thursday, January 18th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. American Electric Power presently has an average rating of “Buy” and a consensus price target of $75.43.
American Electric Power (NYSE:AEP) last released its earnings results on Thursday, January 25th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.04. The firm had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.92 billion. American Electric Power had a return on equity of 10.05% and a net margin of 12.39%. The company’s revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 EPS. equities analysts forecast that American Electric Power Company Inc will post 3.89 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 9th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date is Thursday, February 8th. American Electric Power’s dividend payout ratio (DPR) is presently 64.08%.
COPYRIGHT VIOLATION WARNING: “Meeder Asset Management Inc. Has $1.23 Million Stake in American Electric Power Company Inc (AEP)” was posted by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this news story on another website, it was copied illegally and republished in violation of U.S. and international trademark & copyright legislation. The legal version of this news story can be read at https://sportsperspectives.com/2018/02/08/meeder-asset-management-inc-has-1-23-million-stake-in-american-electric-power-company-inc-aep.html.
American Electric Power Profile
American Electric Power Company, Inc (AEP) is a public utility holding company that owns, directly or indirectly, all of the outstanding common stock of its public utility subsidiaries and varying percentages of other subsidiaries. The service areas of the Company’s public utility subsidiaries cover the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.
Want to see what other hedge funds are holding AEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Electric Power Company Inc (NYSE:AEP).
Receive News & Ratings for American Electric Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Electric Power and related companies with MarketBeat.com's FREE daily email newsletter.