Bollard Group LLC grew its stake in American Electric Power Company Inc (NYSE:AEP) by 3.4% in the first quarter, HoldingsChannel reports. The firm owned 389,727 shares of the utilities provider’s stock after acquiring an additional 12,786 shares during the quarter. American Electric Power makes up approximately 1.2% of Bollard Group LLC’s investment portfolio, making the stock its 13th biggest position. Bollard Group LLC’s holdings in American Electric Power were worth $32,640,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. QUANTRES ASSET MANAGEMENT Ltd grew its position in American Electric Power by 186.2% in the first quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 8,300 shares of the utilities provider’s stock worth $695,000 after acquiring an additional 5,400 shares during the period. Cetera Advisor Networks LLC grew its position in American Electric Power by 14.7% in the first quarter. Cetera Advisor Networks LLC now owns 26,278 shares of the utilities provider’s stock worth $2,204,000 after acquiring an additional 3,377 shares during the period. State Treasurer State of Michigan grew its position in American Electric Power by 0.7% in the first quarter. State Treasurer State of Michigan now owns 142,181 shares of the utilities provider’s stock worth $11,908,000 after acquiring an additional 1,000 shares during the period. Commonwealth Bank of Australia grew its position in American Electric Power by 124.6% in the fourth quarter. Commonwealth Bank of Australia now owns 3,681,416 shares of the utilities provider’s stock worth $275,134,000 after acquiring an additional 2,042,518 shares during the period. Finally, Orrstown Financial Services Inc. grew its position in American Electric Power by 1,778.1% in the first quarter. Orrstown Financial Services Inc. now owns 6,949 shares of the utilities provider’s stock worth $582,000 after acquiring an additional 6,579 shares during the period. Institutional investors and hedge funds own 73.59% of the company’s stock.
Several brokerages recently weighed in on AEP. Morgan Stanley increased their price objective on American Electric Power from $87.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 16th. UBS Group increased their price objective on American Electric Power from $89.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Wolfe Research set a $89.00 price target on American Electric Power and gave the stock a “buy” rating in a research note on Friday, April 26th. Wells Fargo & Co upped their price target on American Electric Power from $89.00 to $93.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Finally, Goldman Sachs Group cut American Electric Power from a “buy” rating to a “neutral” rating and set a $78.00 price target on the stock. in a research note on Monday, April 8th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $81.80.
NYSE:AEP opened at $86.12 on Monday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.37 and a current ratio of 0.49. American Electric Power Company Inc has a 52 week low of $62.71 and a 52 week high of $89.01. The firm has a market cap of $42.48 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 3.69 and a beta of 0.16.
American Electric Power (NYSE:AEP) last released its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.09. American Electric Power had a return on equity of 10.81% and a net margin of 12.64%. The company had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.23 billion. During the same period in the prior year, the firm earned $0.96 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. As a group, analysts anticipate that American Electric Power Company Inc will post 4.13 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Thursday, May 9th. American Electric Power’s payout ratio is currently 67.85%.
In other news, EVP Paul Chodak III sold 1,303 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $86.52, for a total value of $112,735.56. Following the sale, the executive vice president now directly owns 8,152 shares in the company, valued at $705,311.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Brian X. Tierney sold 4,392 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $86.02, for a total value of $377,799.84. Following the completion of the sale, the vice president now owns 39,449 shares in the company, valued at $3,393,402.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,885 shares of company stock worth $1,955,499. Insiders own 0.16% of the company’s stock.
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American Electric Power Company 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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