American Electric Power Company Inc (AEP) Holdings Cut by Cortland Advisers LLC

Cortland Advisers LLC cut its position in American Electric Power Company Inc (NYSE:AEP) by 3.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 213,532 shares of the utilities provider’s stock after selling 6,704 shares during the period. American Electric Power makes up about 0.7% of Cortland Advisers LLC’s investment portfolio, making the stock its 27th largest holding. Cortland Advisers LLC’s holdings in American Electric Power were worth $14,998,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Smithfield Trust Co. raised its holdings in shares of American Electric Power by 8.1% during the second quarter. Smithfield Trust Co. now owns 1,677 shares of the utilities provider’s stock valued at $117,000 after purchasing an additional 125 shares during the last quarter. Thompson Davis & CO. Inc. raised its holdings in shares of American Electric Power by 0.3% during the second quarter. Thompson Davis & CO. Inc. now owns 1,747 shares of the utilities provider’s stock valued at $121,000 after purchasing an additional 6 shares during the last quarter. Enterprise Financial Services Corp raised its holdings in shares of American Electric Power by 7.2% during the second quarter. Enterprise Financial Services Corp now owns 1,798 shares of the utilities provider’s stock valued at $125,000 after purchasing an additional 120 shares during the last quarter. Vantage Investment Advisors LLC raised its holdings in shares of American Electric Power by 0.9% during the second quarter. Vantage Investment Advisors LLC now owns 1,862 shares of the utilities provider’s stock valued at $129,000 after purchasing an additional 17 shares during the last quarter. Finally, WFG Advisors LP raised its holdings in shares of American Electric Power by 36.3% during the second quarter. WFG Advisors LP now owns 2,039 shares of the utilities provider’s stock valued at $142,000 after purchasing an additional 543 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

AEP has been the subject of several research reports. Morgan Stanley boosted their price objective on shares of American Electric Power from $71.00 to $73.00 and gave the company an “equal weight” rating in a report on Thursday, August 10th. BidaskClub raised shares of American Electric Power from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. KeyCorp reaffirmed a “buy” rating and set a $73.00 target price on shares of American Electric Power in a report on Friday, September 1st. Royal Bank Of Canada reaffirmed a “hold” rating and set a $71.00 target price on shares of American Electric Power in a report on Monday, September 4th. Finally, Mizuho cut shares of American Electric Power from a “buy” rating to a “neutral” rating and reduced their target price for the company from $74.00 to $73.00 in a report on Friday, September 22nd. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $73.91.

Shares of American Electric Power Company Inc (AEP) opened at $77.24 on Friday. American Electric Power Company Inc has a twelve month low of $57.90 and a twelve month high of $77.97. The company has a market cap of $37,993.20, a P/E ratio of 22.20, a price-to-earnings-growth ratio of 4.50 and a beta of 0.30. The company has a current ratio of 0.56, a quick ratio of 0.43 and a debt-to-equity ratio of 1.01.

American Electric Power (NYSE:AEP) last announced its earnings results on Thursday, October 26th. The utilities provider reported $1.10 EPS for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.06). American Electric Power had a net margin of 12.21% and a return on equity of 9.67%. The business had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.42 billion. During the same period in the prior year, the company posted $1.30 earnings per share. The firm’s quarterly revenue was down 12.8% on a year-over-year basis. equities research analysts predict that American Electric Power Company Inc will post 3.61 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 10th will be given a $0.62 dividend. This is a positive change from American Electric Power’s previous quarterly dividend of $0.59. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Thursday, November 9th. American Electric Power’s dividend payout ratio is presently 64.92%.

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About American Electric Power

American Electric Power Company, Inc (AEP) is a public utility holding company that owns, directly or indirectly, all of the outstanding common stock of its public utility subsidiaries and varying percentages of other subsidiaries. The service areas of the Company’s public utility subsidiaries cover the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.

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

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