TIAA CREF Investment Management LLC boosted its stake in shares of American Electric Power Company Inc (NYSE:AEP) by 2.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,847,748 shares of the utilities provider’s stock after acquiring an additional 100,915 shares during the period. TIAA CREF Investment Management LLC owned 0.78% of American Electric Power worth $283,079,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the business. BlackRock Inc. increased its stake in American Electric Power by 2.3% during the 4th quarter. BlackRock Inc. now owns 33,713,494 shares of the utilities provider’s stock worth $2,480,302,000 after acquiring an additional 763,950 shares during the period. Wells Fargo & Company MN increased its stake in American Electric Power by 15.2% during the 4th quarter. Wells Fargo & Company MN now owns 11,555,836 shares of the utilities provider’s stock worth $850,164,000 after acquiring an additional 1,526,465 shares during the period. JPMorgan Chase & Co. increased its stake in American Electric Power by 70.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,696,615 shares of the utilities provider’s stock worth $472,110,000 after acquiring an additional 2,762,164 shares during the period. Renaissance Technologies LLC increased its stake in American Electric Power by 4.9% during the 4th quarter. Renaissance Technologies LLC now owns 5,227,300 shares of the utilities provider’s stock worth $384,572,000 after acquiring an additional 245,600 shares during the period. Finally, Geode Capital Management LLC increased its stake in American Electric Power by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 4,891,154 shares of the utilities provider’s stock worth $359,044,000 after acquiring an additional 161,176 shares during the period. Hedge funds and other institutional investors own 71.69% of the company’s stock.
Shares of American Electric Power Company Inc (AEP) opened at $66.04 on Wednesday. The company has a current ratio of 0.51, a quick ratio of 0.40 and a debt-to-equity ratio of 1.06. American Electric Power Company Inc has a twelve month low of $63.32 and a twelve month high of $78.07. The firm has a market capitalization of $32,408.41, a price-to-earnings ratio of 17.06, a P/E/G ratio of 3.15 and a beta of 0.22.
American Electric Power (NYSE:AEP) last released its quarterly earnings data on Thursday, January 25th. The utilities provider reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.04. American Electric Power had a return on equity of 10.05% and a net margin of 12.39%. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the business posted $0.67 EPS. American Electric Power’s revenue for the quarter was up .0% on a year-over-year basis. research analysts forecast that American Electric Power Company Inc will post 3.89 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Friday, February 9th were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend was Thursday, February 8th. American Electric Power’s dividend payout ratio (DPR) is 64.08%.
A number of research firms have commented on AEP. Zacks Investment Research lowered American Electric Power from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Morgan Stanley raised American Electric Power from an “equal weight” rating to an “overweight” rating and set a $83.00 target price on the stock in a report on Wednesday, December 13th. ValuEngine raised American Electric Power from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. Guggenheim downgraded American Electric Power from a “neutral” rating to a “sell” rating in a report on Tuesday, January 2nd. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $78.00 target price on shares of American Electric Power in a report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $74.36.
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American Electric Power 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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