Duality Advisers LP acquired a new position in American Electric Power Company Inc (NYSE:AEP) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 21,482 shares of the utilities provider’s stock, valued at approximately $1,711,000.
Other hedge funds have also added to or reduced their stakes in the company. Sciencast Management LP increased its holdings in shares of American Electric Power by 7.2% in the 2nd quarter. Sciencast Management LP now owns 23,264 shares of the utilities provider’s stock worth $1,978,000 after purchasing an additional 1,557 shares in the last quarter. Pacer Advisors Inc. bought a new stake in American Electric Power in the 2nd quarter worth about $3,308,000. GWM Advisors LLC raised its position in American Electric Power by 4.3% in the 2nd quarter. GWM Advisors LLC now owns 39,892 shares of the utilities provider’s stock worth $3,177,000 after buying an additional 1,660 shares during the last quarter. Stratos Wealth Advisors LLC lifted its stake in American Electric Power by 86.5% during the 2nd quarter. Stratos Wealth Advisors LLC now owns 6,545 shares of the utilities provider’s stock valued at $521,000 after acquiring an additional 3,036 shares during the period. Finally, Stratos Wealth Partners LTD. boosted its holdings in shares of American Electric Power by 14.1% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 26,638 shares of the utilities provider’s stock valued at $2,122,000 after acquiring an additional 3,301 shares during the last quarter. 74.57% of the stock is currently owned by institutional investors and hedge funds.
AEP stock opened at $86.88 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.45 and a quick ratio of 0.35. The business has a 50-day moving average price of $83.21 and a 200 day moving average price of $87.41. American Electric Power Company Inc has a 1-year low of $65.14 and a 1-year high of $104.97. The company has a market capitalization of $43.06 billion, a P/E ratio of 23.29, a PEG ratio of 3.56 and a beta of 0.36.
American Electric Power (NYSE:AEP) last posted its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.02 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.07). American Electric Power had a return on equity of 10.15% and a net margin of 12.08%. The firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter last year, the firm earned $1.19 EPS. The company’s revenue was down 9.8% compared to the same quarter last year. On average, analysts anticipate that American Electric Power Company Inc will post 4.29 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $2.80 dividend on an annualized basis and a yield of 3.22%. American Electric Power’s dividend payout ratio is currently 66.04%.
AEP has been the topic of a number of research analyst reports. Royal Bank of Canada restated a “buy” rating and set a $92.00 price objective on shares of American Electric Power in a research report on Wednesday, April 8th. Morgan Stanley increased their price target on American Electric Power from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, July 17th. TheStreet raised American Electric Power from a “c+” rating to a “b-” rating in a report on Tuesday, July 21st. Bank of America cut American Electric Power from a “buy” rating to a “neutral” rating and set a $80.00 price objective for the company. in a research report on Friday, May 15th. Finally, UBS Group raised their target price on American Electric Power from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $96.17.
In other American Electric Power news, EVP Mark C. Mccullough sold 2,244 shares of American Electric Power stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $81.19, for a total transaction of $182,190.36. Following the completion of the transaction, the executive vice president now owns 10,530 shares in the company, valued at approximately $854,930.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nicholas K. Akins sold 16,519 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $81.90, for a total value of $1,352,906.10. Following the completion of the transaction, the chief executive officer now directly owns 134,743 shares of the company’s stock, valued at approximately $11,035,451.70. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by corporate insiders.
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.
Recommended Story: Buy-Side Analysts
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.