3,073 Shares in American Electric Power Company Inc (NYSE:AEP) Bought by Financial Management Professionals Inc.

Financial Management Professionals Inc. bought a new position in American Electric Power Company Inc (NYSE:AEP) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,073 shares of the utilities provider’s stock, valued at approximately $288,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Cobblestone Capital Advisors LLC NY grew its position in American Electric Power by 144.2% in the 2nd quarter. Cobblestone Capital Advisors LLC NY now owns 8,468 shares of the utilities provider’s stock worth $745,000 after purchasing an additional 5,000 shares during the last quarter. Achmea Investment Management B.V. acquired a new stake in American Electric Power in the 2nd quarter worth $4,049,000. Coastal Capital Group Inc. acquired a new stake in American Electric Power in the 2nd quarter worth $145,000. ZWJ Investment Counsel Inc. acquired a new stake in American Electric Power in the 1st quarter worth $319,000. Finally, Corient Capital Partners LLC grew its position in American Electric Power by 7.8% in the 2nd quarter. Corient Capital Partners LLC now owns 29,395 shares of the utilities provider’s stock worth $2,587,000 after purchasing an additional 2,135 shares during the last quarter. Hedge funds and other institutional investors own 73.76% of the company’s stock.

AEP has been the topic of several recent research reports. ValuEngine lowered shares of American Electric Power from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Mizuho lifted their target price on shares of American Electric Power from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. UBS Group lifted their target price on shares of American Electric Power from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Morgan Stanley lifted their target price on shares of American Electric Power from $91.00 to $97.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Bank of America reiterated a “buy” rating and set a $98.00 target price (up from $93.00) on shares of American Electric Power in a research report on Tuesday, July 9th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $92.45.

In other American Electric Power news, VP Brian X. Tierney sold 4,458 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $89.73, for a total value of $400,016.34. Following the transaction, the vice president now directly owns 39,745 shares in the company, valued at $3,566,318.85. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Charles E. Zebula sold 1,216 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $90.98, for a total transaction of $110,631.68. Following the completion of the transaction, the insider now owns 7,420 shares in the company, valued at $675,071.60. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

Shares of American Electric Power stock traded down $0.27 during trading on Friday, hitting $92.34. 1,817,196 shares of the company’s stock traded hands, compared to its average volume of 2,438,040. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.49 and a quick ratio of 0.36. The firm’s fifty day moving average price is $92.21 and its 200 day moving average price is $88.59. American Electric Power Company Inc has a twelve month low of $70.31 and a twelve month high of $94.89. The company has a market cap of $45.71 billion, a PE ratio of 23.38, a PEG ratio of 3.96 and a beta of 0.09.

American Electric Power (NYSE:AEP) last issued its earnings results on Thursday, July 25th. The utilities provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.02. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $4.13 billion. American Electric Power had a net margin of 12.53% and a return on equity of 10.69%. The firm’s revenue was down 10.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.01 EPS. As a group, equities research analysts anticipate that American Electric Power Company Inc will post 4.13 earnings per share for the current year.

About American Electric Power

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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