State of Alaska Department of Revenue lifted its position in American Electric Power Company Inc (NYSE:AEP) by 219.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 65,181 shares of the utilities provider’s stock after buying an additional 44,781 shares during the period. State of Alaska Department of Revenue’s holdings in American Electric Power were worth $4,794,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Chicago Partners Investment Group LLC purchased a new stake in shares of American Electric Power in the third quarter valued at approximately $113,000. Bank of Nova Scotia Trust Co. bought a new position in American Electric Power in the third quarter worth approximately $140,000. WFG Advisors LP raised its stake in American Electric Power by 36.3% in the second quarter. WFG Advisors LP now owns 2,039 shares of the utilities provider’s stock worth $142,000 after buying an additional 543 shares in the last quarter. Quantbot Technologies LP bought a new position in American Electric Power in the second quarter worth approximately $147,000. Finally, TCI Wealth Advisors Inc. raised its stake in American Electric Power by 54.4% in the third quarter. TCI Wealth Advisors Inc. now owns 2,261 shares of the utilities provider’s stock worth $159,000 after buying an additional 797 shares in the last quarter. Hedge funds and other institutional investors own 70.97% of the company’s stock.
AEP has been the subject of a number of recent research reports. Jefferies Group reissued a “hold” rating and issued a $73.00 price objective on shares of American Electric Power in a research note on Tuesday, October 3rd. JPMorgan Chase & Co. boosted their price objective on shares of American Electric Power to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, October 12th. Deutsche Bank downgraded shares of American Electric Power from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Bank of America initiated coverage on shares of American Electric Power in a research note on Tuesday, October 24th. They issued a “buy” rating and a $79.00 price objective for the company. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $74.00 price objective on shares of American Electric Power in a research note on Monday, October 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $75.33.
American Electric Power (NYSE:AEP) last issued its quarterly earnings results on Thursday, October 26th. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.06). The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.42 billion. American Electric Power had a return on equity of 9.67% and a net margin of 12.21%. The business’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.30 earnings per share. equities research analysts anticipate that American Electric Power Company Inc will post 3.62 EPS for the current year.
American Electric Power Profile
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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