Westpac Banking Corp increased its stake in shares of American Electric Power (NYSE:AEP) by 37.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 39,945 shares of the utilities provider’s stock after buying an additional 10,917 shares during the period. Westpac Banking Corp’s holdings in American Electric Power were worth $2,740,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. CHURCHILL MANAGEMENT Corp increased its position in American Electric Power by 630.8% during the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 293,571 shares of the utilities provider’s stock worth $21,598,000 after purchasing an additional 253,402 shares in the last quarter. Nadler Financial Group Inc. bought a new stake in American Electric Power during the 4th quarter worth approximately $205,000. Gofen & Glossberg LLC IL bought a new stake in American Electric Power during the 4th quarter worth approximately $205,000. Banced Corp bought a new stake in American Electric Power during the 4th quarter worth approximately $207,000. Finally, USS Investment Management Ltd bought a new stake in American Electric Power during the 4th quarter worth approximately $6,813,000. 72.00% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Mark C. Mccullough sold 721 shares of American Electric Power stock in a transaction on Friday, May 4th. The shares were sold at an average price of $69.63, for a total value of $50,203.23. Following the sale, the executive vice president now owns 7,386 shares in the company, valued at $514,287.18. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.16% of the company’s stock.
A number of equities research analysts have recently commented on the stock. KeyCorp upped their price objective on shares of American Electric Power from $69.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, April 18th. JPMorgan Chase cut their target price on shares of American Electric Power from $70.00 to $69.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 10th. Deutsche Bank upgraded shares of American Electric Power from a “hold” rating to a “buy” rating and upped their price objective for the stock from $68.25 to $75.00 in a report on Thursday, January 18th. UBS started coverage on shares of American Electric Power in a report on Friday, February 2nd. They set a “buy” rating and a $76.00 price objective on the stock. Finally, Macquarie upgraded shares of American Electric Power from a “neutral” rating to an “outperform” rating and increased their target price for the company from $75.00 to $76.00 in a report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $73.77.
AEP traded down $0.18 on Thursday, reaching $65.97. The company had a trading volume of 42,739 shares, compared to its average volume of 3,275,365. The company has a market capitalization of $32.91 billion, a P/E ratio of 17.98, a P/E/G ratio of 3.03 and a beta of 0.16. American Electric Power has a 52-week low of $65.96 and a 52-week high of $66.88. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.44 and a quick ratio of 0.34.
American Electric Power (NYSE:AEP) last issued its earnings results on Thursday, April 26th. The utilities provider reported $0.96 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.02). American Electric Power had a return on equity of 9.93% and a net margin of 11.41%. The firm had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4 billion. During the same period in the previous year, the firm earned $0.96 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. equities analysts anticipate that American Electric Power will post 3.88 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Investors of record on Thursday, May 10th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.76%. The ex-dividend date is Wednesday, May 9th. American Electric Power’s dividend payout ratio (DPR) is currently 67.39%.
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.
Receive News & Ratings for American Electric Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Electric Power and related companies with MarketBeat.com's FREE daily email newsletter.