Forsta AP Fonden cut its stake in American Electric Power Company Inc (NYSE:AEP) by 4.7% in the 4th quarter, Holdings Channel reports. The firm owned 96,116 shares of the utilities provider’s stock after selling 4,700 shares during the quarter. Forsta AP Fonden’s holdings in American Electric Power were worth $7,071,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. IFG Advisory LLC purchased a new stake in shares of American Electric Power in the fourth quarter worth approximately $231,000. Chicago Partners Investment Group LLC purchased a new stake in shares of American Electric Power in the third quarter worth approximately $113,000. Bank of Nova Scotia Trust Co. purchased a new stake in shares of American Electric Power in the third quarter worth approximately $140,000. WFG Advisors LP raised its stake in shares of American Electric Power by 36.3% in the second quarter. WFG Advisors LP now owns 2,039 shares of the utilities provider’s stock worth $142,000 after purchasing an additional 543 shares during the last quarter. Finally, TCI Wealth Advisors Inc. raised its stake in shares of American Electric Power by 54.4% in the third quarter. TCI Wealth Advisors Inc. now owns 2,261 shares of the utilities provider’s stock worth $159,000 after purchasing an additional 797 shares during the last quarter. 70.74% of the stock is owned by hedge funds and other institutional investors.
Several analysts have recently commented on the company. Zacks Investment Research downgraded American Electric Power from a “hold” rating to a “sell” rating in a research note on Tuesday. Morgan Stanley decreased their price target on American Electric Power from $77.00 to $71.00 and set a “buy” rating for the company in a research report on Tuesday. UBS Group assumed coverage on American Electric Power in a research report on Friday, February 2nd. They set a “buy” rating and a $76.00 price target for the company. SunTrust Banks set a $75.00 price target on American Electric Power and gave the company a “buy” rating in a research report on Monday. Finally, Mizuho raised American Electric Power from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 17th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company’s stock. American Electric Power presently has a consensus rating of “Buy” and an average target price of $74.36.
American Electric Power (NYSE:AEP) last announced its quarterly earnings data on Thursday, January 25th. The utilities provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.04. American Electric Power had a return on equity of 10.05% and a net margin of 12.39%. The business had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period in the prior year, the company earned $0.67 earnings per share. American Electric Power’s revenue was up .0% compared to the same quarter last year. equities research analysts predict that American Electric Power Company Inc will post 3.89 EPS for the current year.
The company also recently disclosed 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 annualized dividend and a yield of 3.80%. The ex-dividend date is Thursday, February 8th. American Electric Power’s dividend payout ratio (DPR) is 64.08%.
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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.
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