Verus Financial Partners Inc. Acquires 169 Shares of American Electric Power Company Inc (AEP)

Verus Financial Partners Inc. grew its holdings in American Electric Power Company Inc (NYSE:AEP) by 5.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,350 shares of the utilities provider’s stock after purchasing an additional 169 shares during the quarter. Verus Financial Partners Inc.’s holdings in American Electric Power were worth $281,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Lathrop Investment Management Corp boosted its stake in shares of American Electric Power by 30.4% in the 1st quarter. Lathrop Investment Management Corp now owns 4,120 shares of the utilities provider’s stock valued at $345,000 after purchasing an additional 960 shares during the last quarter. Eastern Bank boosted its stake in American Electric Power by 2.9% during the 1st quarter. Eastern Bank now owns 32,602 shares of the utilities provider’s stock worth $2,730,000 after acquiring an additional 931 shares during the last quarter. Eqis Capital Management Inc. boosted its stake in American Electric Power by 9.3% during the 1st quarter. Eqis Capital Management Inc. now owns 6,222 shares of the utilities provider’s stock worth $521,000 after acquiring an additional 528 shares during the last quarter. Highland Capital Management LLC boosted its stake in American Electric Power by 55.4% during the 1st quarter. Highland Capital Management LLC now owns 102,380 shares of the utilities provider’s stock worth $8,574,000 after acquiring an additional 36,500 shares during the last quarter. Finally, Gulf International Bank UK Ltd boosted its stake in American Electric Power by 4.1% during the 1st quarter. Gulf International Bank UK Ltd now owns 119,046 shares of the utilities provider’s stock worth $9,970,000 after acquiring an additional 4,650 shares during the last quarter. 73.51% of the stock is currently owned by institutional investors.

AEP stock traded down $0.19 during mid-day trading on Friday, hitting $83.01. 2,268,150 shares of the company were exchanged, compared to its average volume of 2,777,930. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.37 and a current ratio of 0.48. The company has a market capitalization of $40.94 billion, a P/E ratio of 21.02, a price-to-earnings-growth ratio of 3.61 and a beta of 0.17. American Electric Power Company Inc has a 1-year low of $62.71 and a 1-year high of $86.10.

American Electric Power (NYSE:AEP) last announced its earnings results on Thursday, January 24th. The utilities provider reported $0.72 EPS for the quarter, topping the consensus estimate of $0.71 by $0.01. The firm had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.97 billion. American Electric Power had a net margin of 11.91% and a return on equity of 10.32%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the company posted $0.85 EPS. Analysts forecast that American Electric Power Company Inc will post 4.12 earnings per share for the current year.

Several research analysts recently weighed in on AEP shares. Mizuho lowered shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $72.00 price objective on the stock. in a research note on Thursday, January 3rd. They noted that the move was a valuation call. Zacks Investment Research lowered shares of American Electric Power from a “hold” rating to a “sell” rating in a research note on Friday, January 4th. Guggenheim lowered shares of American Electric Power from a “buy” rating to a “neutral” rating in a research note on Monday, January 7th. They noted that the move was a valuation call. JPMorgan Chase & Co. set a $78.00 price objective on shares of American Electric Power and gave the stock a “hold” rating in a research note on Friday, January 25th. Finally, Morgan Stanley lifted their price objective on shares of American Electric Power from $81.00 to $84.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 12th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. American Electric Power presently has a consensus rating of “Buy” and a consensus price target of $79.01.

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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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

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Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

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