KC Investment Advisors LLC lessened its position in American Electric Power Company Inc (NYSE:AEP) by 12.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,979 shares of the utilities provider’s stock after selling 877 shares during the quarter. KC Investment Advisors LLC’s holdings in American Electric Power were worth $501,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc raised its stake in shares of American Electric Power by 1.6% during the third quarter. Vanguard Group Inc now owns 37,558,524 shares of the utilities provider’s stock valued at $2,662,148,000 after purchasing an additional 584,608 shares in the last quarter. Quantamental Technologies LLC bought a new stake in shares of American Electric Power during the fourth quarter valued at about $30,000. Oppenheimer Asset Management Inc. bought a new stake in shares of American Electric Power during the fourth quarter valued at about $58,000. Advisors Asset Management Inc. raised its stake in shares of American Electric Power by 53.9% during the fourth quarter. Advisors Asset Management Inc. now owns 22,902 shares of the utilities provider’s stock valued at $1,712,000 after purchasing an additional 8,019 shares in the last quarter. Finally, Capital Investment Advisory Services LLC bought a new stake in shares of American Electric Power during the fourth quarter valued at about $95,000. 73.60% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on the stock. Morgan Stanley cut shares of American Electric Power from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $86.00 to $83.20 in a research note on Thursday, April 18th. KeyCorp assumed coverage on shares of American Electric Power in a research note on Tuesday, June 4th. They set a “sector weight” rating on the stock. Zacks Investment Research cut shares of American Electric Power from a “buy” rating to a “hold” rating in a research note on Wednesday, March 20th. JPMorgan Chase & Co. upgraded shares of American Electric Power from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $78.00 to $88.00 in a research note on Tuesday, March 12th. Finally, Goldman Sachs Group cut shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a research note on Monday, April 8th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $81.80.
NYSE:AEP traded down $0.51 during mid-day trading on Tuesday, reaching $88.51. 35,927 shares of the stock were exchanged, compared to its average volume of 2,061,887. The firm has a market cap of $43.91 billion, a P/E ratio of 22.42, a PEG ratio of 3.82 and a beta of 0.16. American Electric Power Company Inc has a 1-year low of $62.71 and a 1-year high of $91.07. The company has a quick ratio of 0.37, a current ratio of 0.49 and a debt-to-equity ratio of 1.19.
American Electric Power (NYSE:AEP) last released its earnings results on Thursday, April 25th. The utilities provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.09. The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.23 billion. American Electric Power had a return on equity of 10.81% and a net margin of 12.64%. American Electric Power’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.96 earnings per share. Sell-side analysts expect that American Electric Power Company Inc will post 4.15 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend was Thursday, May 9th. American Electric Power’s payout ratio is currently 67.85%.
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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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.
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