Hartford Investment Management Co. Buys 8,273 Shares of American Electric Power Company Inc (AEP)

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Hartford Investment Management Co. grew its holdings in American Electric Power Company Inc (NYSE:AEP) by 13.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 67,996 shares of the utilities provider’s stock after buying an additional 8,273 shares during the quarter. Hartford Investment Management Co.’s holdings in American Electric Power were worth $5,082,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Orrstown Financial Services Inc. acquired a new stake in shares of American Electric Power in the 4th quarter valued at approximately $28,000. Arlington Partners LLC acquired a new stake in shares of American Electric Power in the 4th quarter valued at approximately $30,000. Quantamental Technologies LLC acquired a new stake in shares of American Electric Power in the 4th quarter valued at approximately $30,000. Mondrian Investment Partners LTD acquired a new stake in shares of American Electric Power in the 4th quarter valued at approximately $38,000. Finally, Mackey Komara & Dankovich LLC acquired a new stake in shares of American Electric Power in the 4th quarter valued at approximately $49,000. 72.71% of the stock is owned by institutional investors and hedge funds.

AEP has been the subject of several recent analyst reports. Morgan Stanley set a $80.00 price target on American Electric Power and gave the company a “buy” rating in a report on Thursday, October 11th. Bank of America raised their price objective on American Electric Power from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, October 26th. Guggenheim downgraded American Electric Power from a “buy” rating to a “neutral” rating in a research note on Monday, January 7th. They noted that the move was a valuation call. Mizuho downgraded American Electric Power from a “buy” rating to a “neutral” rating and set a $72.00 price objective for the company. in a research note on Thursday, January 3rd. They noted that the move was a valuation call. Finally, Barclays raised their price objective on American Electric Power from $81.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, November 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. American Electric Power has a consensus rating of “Buy” and a consensus price target of $77.21.

NYSE AEP traded down $0.56 during mid-day trading on Thursday, hitting $78.65. The stock had a trading volume of 372,621 shares, compared to its average volume of 2,488,696. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.48 and a quick ratio of 0.46. The company has a market capitalization of $39.06 billion, a P/E ratio of 19.91, a PEG ratio of 3.33 and a beta of 0.17. American Electric Power Company Inc has a 52-week low of $62.71 and a 52-week high of $81.05.

American Electric Power (NYSE:AEP) last released its quarterly earnings results on Thursday, January 24th. The utilities provider reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.01. The company had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.97 billion. American Electric Power had a return on equity of 10.33% and a net margin of 11.91%. American Electric Power’s revenue was up .0% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 earnings per share. On average, research analysts expect that American Electric Power Company Inc will post 4.12 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 8th. Investors of record on Friday, February 8th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Thursday, February 7th. American Electric Power’s payout ratio is currently 67.85%.

In other news, insider Paul Chodak III sold 847 shares of the company’s stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $76.47, for a total transaction of $64,770.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the insider now owns 581 shares of the company’s stock, valued at $45,056.55. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

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

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