Hugh Johnson Advisors LLC raised its position in shares of American Electric Power Company Inc (NYSE:AEP) by 115.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,285 shares of the utilities provider’s stock after purchasing an additional 4,436 shares during the quarter. Hugh Johnson Advisors LLC’s holdings in American Electric Power were worth $582,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Bouchey Financial Group Ltd purchased a new position in American Electric Power in the 2nd quarter worth approximately $206,000. Pennsylvania Trust Co grew its position in American Electric Power by 24.5% in the 2nd quarter. Pennsylvania Trust Co now owns 6,859 shares of the utilities provider’s stock valued at $476,000 after acquiring an additional 1,350 shares during the last quarter. CHURCHILL MANAGEMENT Corp grew its position in American Electric Power by 5.1% in the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 42,370 shares of the utilities provider’s stock valued at $2,943,000 after acquiring an additional 2,062 shares during the last quarter. Arvest Bank Trust Division grew its position in shares of American Electric Power by 57.9% during the 2nd quarter. Arvest Bank Trust Division now owns 5,508 shares of the utilities provider’s stock worth $383,000 after buying an additional 2,020 shares in the last quarter. Finally, NEXT Financial Group Inc grew its position in shares of American Electric Power by 2.7% during the 2nd quarter. NEXT Financial Group Inc now owns 20,187 shares of the utilities provider’s stock worth $1,402,000 after buying an additional 522 shares in the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.
A number of equities analysts have recently issued reports on the company. ValuEngine raised American Electric Power from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Royal Bank Of Canada reiterated a “hold” rating and issued a $74.00 price target on shares of American Electric Power in a research note on Monday, October 30th. Bank of America initiated coverage on American Electric Power in a research note on Tuesday, October 24th. They issued a “buy” rating and a $79.00 price target for the company. Deutsche Bank cut American Electric Power from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Finally, J P Morgan Chase & Co raised their price objective on American Electric Power to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, October 12th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $73.91.
American Electric Power Company Inc (NYSE:AEP) opened at $76.27 on Wednesday. American Electric Power Company Inc has a 1 year low of $59.01 and a 1 year high of $78.07. The company has a market capitalization of $38,067.01, a P/E ratio of 22.24, a P/E/G ratio of 4.51 and a beta of 0.30. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.43 and a current ratio of 0.56.
American Electric Power (NYSE:AEP) last posted its earnings results on Thursday, October 26th. The utilities provider reported $1.10 EPS for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.06). The business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.42 billion. American Electric Power had a net margin of 12.21% and a return on equity of 9.67%. American Electric Power’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.30 EPS. analysts forecast that American Electric Power Company Inc will post 3.61 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 10th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.25%. This is a boost from American Electric Power’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Thursday, November 9th. American Electric Power’s payout ratio is presently 64.92%.
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American Electric Power Company 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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