Commonwealth Bank of Australia Boosts Stake in American Electric Power Company Inc (AEP)

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Commonwealth Bank of Australia grew its position in shares of American Electric Power Company Inc (NYSE:AEP) by 127.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,638,898 shares of the utilities provider’s stock after acquiring an additional 918,394 shares during the quarter. American Electric Power comprises approximately 1.1% of Commonwealth Bank of Australia’s holdings, making the stock its 21st largest holding. Commonwealth Bank of Australia owned 0.33% of American Electric Power worth $116,151,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Xact Kapitalforvaltning AB raised its position in shares of American Electric Power by 3.5% during the second quarter. Xact Kapitalforvaltning AB now owns 52,871 shares of the utilities provider’s stock valued at $3,661,000 after buying an additional 1,803 shares during the last quarter. FormulaFolio Investments LLC raised its position in shares of American Electric Power by 23.0% during the second quarter. FormulaFolio Investments LLC now owns 3,985 shares of the utilities provider’s stock valued at $276,000 after buying an additional 745 shares during the last quarter. Asset Planning Services Inc. LA ADV raised its position in shares of American Electric Power by 4.2% during the second quarter. Asset Planning Services Inc. LA ADV now owns 68,180 shares of the utilities provider’s stock valued at $4,721,000 after buying an additional 2,775 shares during the last quarter. Calamos Advisors LLC raised its position in American Electric Power by 57.6% in the second quarter. Calamos Advisors LLC now owns 117,467 shares of the utilities provider’s stock worth $8,135,000 after purchasing an additional 42,949 shares in the last quarter. Finally, Amalgamated Bank raised its position in American Electric Power by 3.5% in the second quarter. Amalgamated Bank now owns 63,496 shares of the utilities provider’s stock worth $4,397,000 after purchasing an additional 2,166 shares in the last quarter. Hedge funds and other institutional investors own 72.08% of the company’s stock.

Several research analysts recently issued reports on AEP shares. Scotiabank started coverage on shares of American Electric Power in a research report on Tuesday, July 24th. They issued a “hold” rating and a $72.00 price target for the company. Wells Fargo & Co increased their price target on shares of American Electric Power from $77.00 to $81.00 and gave the stock an “outperform” rating in a research report on Monday, September 17th. Morgan Stanley set a $80.00 price target on shares of American Electric Power and gave the stock a “buy” rating in a research report on Thursday, October 11th. Guggenheim raised shares of American Electric Power from a “neutral” rating to a “buy” rating in a research report on Monday, September 10th. They noted that the move was a valuation call. Finally, Bank of America increased their price target on shares of American Electric Power from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, October 26th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $76.03.

NYSE AEP opened at $76.43 on Wednesday. The company has a market cap of $37.57 billion and a PE ratio of 20.77. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.56 and a quick ratio of 0.46. American Electric Power Company Inc has a 1-year low of $62.71 and a 1-year high of $78.07.

American Electric Power (NYSE:AEP) last posted its quarterly earnings data on Thursday, October 25th. The utilities provider reported $1.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.05. The company had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.26 billion. American Electric Power had a net margin of 12.14% and a return on equity of 10.78%. During the same quarter last year, the business posted $1.10 earnings per share. Equities analysts predict that American Electric Power Company Inc will post 3.96 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 9th will be issued a dividend of $0.67 per share. This is a positive change from American Electric Power’s previous quarterly dividend of $0.62. The ex-dividend date is Thursday, November 8th. This represents a $2.68 annualized dividend and a dividend yield of 3.51%. American Electric Power’s dividend payout ratio (DPR) is presently 72.83%.

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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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Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

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