GAM Holding AG bought a new position in American Electric Power Company Inc (NYSE:AEP) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 5,110 shares of the utilities provider’s stock, valued at approximately $354,000.
Several other institutional investors have also recently added to or reduced their stakes in AEP. First Quadrant L P CA bought a new stake in American Electric Power during the 2nd quarter valued at about $118,000. Optimum Investment Advisors bought a new stake in American Electric Power during the 1st quarter valued at about $141,000. Bristol John W & Co. Inc. NY bought a new stake in American Electric Power during the 1st quarter valued at about $168,000. Adviser Investments LLC lifted its holdings in American Electric Power by 149.7% during the 2nd quarter. Adviser Investments LLC now owns 2,987 shares of the utilities provider’s stock valued at $207,000 after buying an additional 1,791 shares in the last quarter. Finally, Sowell Financial Services LLC bought a new stake in American Electric Power during the 1st quarter valued at about $216,000. Hedge funds and other institutional investors own 72.52% of the company’s stock.
NYSE:AEP opened at $73.33 on Friday. American Electric Power Company Inc has a one year low of $62.71 and a one year high of $78.07. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.50 and a quick ratio of 0.40. The stock has a market capitalization of $36.10 billion, a PE ratio of 19.93, a price-to-earnings-growth ratio of 3.36 and a beta of 0.09.
American Electric Power (NYSE:AEP) last posted its quarterly earnings results on Wednesday, July 25th. The utilities provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.88 by $0.13. American Electric Power had a net margin of 12.09% and a return on equity of 10.50%. The business had revenue of $4 billion during the quarter, compared to analyst estimates of $3.85 billion. During the same quarter in the previous year, the business posted $0.75 EPS. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. research analysts forecast that American Electric Power Company Inc will post 3.89 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Friday, August 10th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Thursday, August 9th. This represents a $2.48 annualized dividend and a dividend yield of 3.38%. American Electric Power’s dividend payout ratio is currently 67.39%.
A number of brokerages recently weighed in on AEP. Zacks Investment Research lowered shares of American Electric Power from a “hold” rating to a “sell” rating in a report on Wednesday, June 27th. ValuEngine upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a report on Tuesday, June 26th. KeyCorp lifted their price objective on shares of American Electric Power from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, July 19th. Scotiabank began coverage on shares of American Electric Power in a report on Tuesday, July 24th. They set a “hold” rating and a $72.00 price objective for the company. Finally, Argus decreased their price objective on shares of American Electric Power from $84.00 to $79.00 and set a “buy” rating for the company in a report on Thursday, May 24th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. American Electric Power currently has a consensus rating of “Buy” and a consensus target price of $75.44.
About American Electric Power
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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