American International Group Inc. raised its holdings in American Electric Power Company Inc (NYSE:AEP) by 1.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 162,400 shares of the utilities provider’s stock after purchasing an additional 2,427 shares during the quarter. American International Group Inc.’s holdings in American Electric Power were worth $12,934,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. boosted its holdings in shares of American Electric Power by 1.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 30,859 shares of the utilities provider’s stock valued at $2,458,000 after acquiring an additional 345 shares in the last quarter. Radnor Capital Management LLC raised its position in shares of American Electric Power by 3.5% in the 2nd quarter. Radnor Capital Management LLC now owns 9,578 shares of the utilities provider’s stock worth $785,000 after acquiring an additional 325 shares in the last quarter. Cerebellum GP LLC bought a new position in shares of American Electric Power in the 2nd quarter worth about $68,000. Maverick Capital Ltd. bought a new position in shares of American Electric Power in the 1st quarter worth about $165,000. Finally, OPSEU Pension Plan Trust Fund bought a new stake in American Electric Power in the 1st quarter valued at about $2,106,000. 73.16% of the stock is currently owned by hedge funds and other institutional investors.
AEP traded up $0.48 during trading on Tuesday, reaching $78.83. The stock had a trading volume of 2,894,200 shares, compared to its average volume of 2,823,465. The stock has a market cap of $38.87 billion, a PE ratio of 20.48, a PEG ratio of 3.25 and a beta of 0.38. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.30 and a current ratio of 0.42. American Electric Power Company Inc has a one year low of $65.14 and a one year high of $104.97. The business has a 50-day moving average of $84.06 and a 200-day moving average of $84.65.
American Electric Power (NYSE:AEP) last posted its quarterly earnings results on Thursday, August 6th. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.03. American Electric Power had a net margin of 12.56% and a return on equity of 10.24%. The business had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.95 billion. During the same period in the prior year, the business posted $1.00 earnings per share. The company’s revenue was down 2.8% on a year-over-year basis. Equities research analysts forecast that American Electric Power Company Inc will post 4.32 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, August 7th. This represents a $2.80 annualized dividend and a yield of 3.55%. American Electric Power’s payout ratio is 66.04%.
AEP has been the subject of a number of analyst reports. KeyCorp lifted their price target on American Electric Power from $93.00 to $96.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Morgan Stanley upped their price objective on American Electric Power from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. TheStreet upgraded American Electric Power from a “c+” rating to a “b-” rating in a research note on Tuesday, July 21st. UBS Group boosted their target price on shares of American Electric Power from $90.00 to $98.00 and gave the company a “buy” rating in a report on Friday, June 5th. Finally, Bank of America cut shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $80.00 target price on the stock. in a report on Friday, May 15th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $96.17.
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.
Read More: Hold Rating
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