Dupont Capital Management Corp lessened its stake in American Electric Power Company, Inc. (NYSE:AEP) by 3.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,927 shares of the utilities provider’s stock after selling 447 shares during the quarter. Dupont Capital Management Corp’s holdings in American Electric Power were worth $975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently bought and sold shares of AEP. Private Trust Co. NA raised its position in shares of American Electric Power by 3.1% in the 2nd quarter. Private Trust Co. NA now owns 5,674 shares of the utilities provider’s stock worth $468,000 after purchasing an additional 170 shares during the last quarter. Cullinan Associates Inc. raised its position in American Electric Power by 146.0% in the 2nd quarter. Cullinan Associates Inc. now owns 52,400 shares of the utilities provider’s stock worth $4,173,000 after buying an additional 31,100 shares during the last quarter. DNB Asset Management AS raised its position in American Electric Power by 39.5% in the 2nd quarter. DNB Asset Management AS now owns 24,000 shares of the utilities provider’s stock worth $1,911,000 after buying an additional 6,800 shares during the last quarter. Envestnet Asset Management Inc. raised its position in American Electric Power by 31.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 360,282 shares of the utilities provider’s stock worth $28,693,000 after buying an additional 86,690 shares during the last quarter. Finally, Richard P Slaughter Associates Inc raised its position in American Electric Power by 1.0% in the 2nd quarter. Richard P Slaughter Associates Inc now owns 12,706 shares of the utilities provider’s stock worth $1,012,000 after buying an additional 125 shares during the last quarter. 73.16% of the stock is owned by hedge funds and other institutional investors.
AEP stock opened at $90.15 on Thursday. American Electric Power Company, Inc. has a 1-year low of $65.14 and a 1-year high of $104.97. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.42 and a quick ratio of 0.30. The company has a market capitalization of $44.75 billion, a price-to-earnings ratio of 23.42, a PEG ratio of 3.39 and a beta of 0.30. The business has a 50 day simple moving average of $86.70 and a two-hundred day simple moving average of $83.41.
American Electric Power (NYSE:AEP) last posted its quarterly earnings results on Thursday, October 22nd. The utilities provider reported $1.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.03. American Electric Power had a return on equity of 10.24% and a net margin of 12.56%. The business had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the prior year, the company posted $1.46 EPS. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. Sell-side analysts anticipate that American Electric Power Company, Inc. will post 4.32 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Tuesday, November 10th will be paid a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 3.28%. This is an increase from American Electric Power’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Monday, November 9th. American Electric Power’s dividend payout ratio is presently 66.04%.
A number of brokerages have weighed in on AEP. Morgan Stanley boosted their target price on American Electric Power from $99.00 to $106.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 20th. TheStreet raised shares of American Electric Power from a “c+” rating to a “b-” rating in a research report on Tuesday, July 21st. KeyCorp upped their price target on shares of American Electric Power from $96.00 to $97.00 and gave the company an “overweight” rating in a research report on Monday, October 19th. Finally, Royal Bank of Canada upped their price target on shares of American Electric Power from $94.00 to $98.00 and gave the company an “outperform” rating in a research report on Monday, October 26th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $96.19.
American Electric Power 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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.
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