Steward Partners Investment Advisory LLC raised its stake in shares of American Electric Power Company Inc (NYSE:AEP) by 7.9% during the 4th quarter, HoldingsChannel reports. The fund owned 18,338 shares of the utilities provider’s stock after acquiring an additional 1,350 shares during the period. Steward Partners Investment Advisory LLC’s holdings in American Electric Power were worth $1,370,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of AEP. FMR LLC increased its holdings in American Electric Power by 413.8% in the 2nd quarter. FMR LLC now owns 2,250,095 shares of the utilities provider’s stock worth $155,819,000 after acquiring an additional 1,812,198 shares during the last quarter. Capital Research Global Investors increased its holdings in American Electric Power by 9.1% in the 3rd quarter. Capital Research Global Investors now owns 18,496,658 shares of the utilities provider’s stock worth $1,311,043,000 after acquiring an additional 1,548,554 shares during the last quarter. Ceredex Value Advisors LLC purchased a new position in American Electric Power during the 3rd quarter valued at about $66,056,000. Commonwealth Bank of Australia grew its holdings in American Electric Power by 127.5% during the 3rd quarter. Commonwealth Bank of Australia now owns 1,638,898 shares of the utilities provider’s stock valued at $116,151,000 after buying an additional 918,394 shares in the last quarter. Finally, Bridgeway Capital Management Inc. purchased a new position in American Electric Power during the 3rd quarter valued at about $61,120,000. Institutional investors and hedge funds own 72.64% of the company’s stock.
NYSE:AEP opened at $76.09 on Friday. The company has a market capitalization of $37.52 billion, a P/E ratio of 18.70, a PEG ratio of 3.24 and a beta of 0.10. American Electric Power Company Inc has a 1-year low of $62.71 and a 1-year high of $81.05. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.10.
American Electric Power (NYSE:AEP) last released its earnings results on Thursday, October 25th. The utilities provider reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.05. The company had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.26 billion. American Electric Power had a return on equity of 10.78% and a net margin of 12.14%. During the same quarter in the previous year, the company posted $1.10 EPS. On average, equities analysts forecast that American Electric Power Company Inc will post 3.95 EPS for the current fiscal year.
In other American Electric Power news, insider Lisa M. Barton sold 881 shares of the business’s stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $77.55, for a total value of $68,321.55. Following the completion of the sale, the insider now owns 581 shares in the company, valued at $45,056.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Chodak III sold 847 shares of the business’s stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $76.47, for a total value of $64,770.09. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.
AEP has been the subject of a number of recent analyst reports. Morgan Stanley set a $80.00 target price on American Electric Power and gave the company a “buy” rating in a report on Thursday, October 11th. Bank of America lifted their target price on American Electric Power from $76.00 to $78.00 and gave the company a “buy” rating in a report on Friday, October 26th. Barclays boosted their price objective on American Electric Power from $81.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, November 19th. ValuEngine raised American Electric Power from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Finally, Zacks Investment Research raised American Electric Power from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Monday, October 15th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. American Electric Power currently has a consensus rating of “Buy” and an average price target of $76.50.
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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