Raymond James Trust N.A. raised its holdings in American Electric Power Company Inc (NYSE:AEP) by 6.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 27,595 shares of the utilities provider’s stock after acquiring an additional 1,680 shares during the period. Raymond James Trust N.A.’s holdings in American Electric Power were worth $2,030,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of AEP. Chicago Partners Investment Group LLC purchased a new stake in American Electric Power in the 3rd quarter valued at about $113,000. Bank of Nova Scotia Trust Co. purchased a new stake in shares of American Electric Power during the 3rd quarter worth about $140,000. WFG Advisors LP grew its holdings in shares of American Electric Power by 36.3% during the 2nd quarter. WFG Advisors LP now owns 2,039 shares of the utilities provider’s stock worth $142,000 after purchasing an additional 543 shares during the period. TCI Wealth Advisors Inc. grew its holdings in shares of American Electric Power by 54.4% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 2,261 shares of the utilities provider’s stock worth $159,000 after purchasing an additional 797 shares during the period. Finally, Global Trust Asset Management LLC purchased a new stake in shares of American Electric Power during the 4th quarter worth about $182,000. Institutional investors own 71.12% of the company’s stock.
A number of analysts have recently issued reports on AEP shares. Bank of America started coverage on American Electric Power in a report on Tuesday, October 24th. They set a “buy” rating and a $79.00 target price for the company. ValuEngine upgraded American Electric Power from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. Deutsche Bank upgraded American Electric Power from a “hold” rating to a “buy” rating and boosted their target price for the stock from $68.25 to $75.00 in a report on Thursday, January 18th. Mizuho upgraded American Electric Power from a “neutral” rating to a “buy” rating in a report on Wednesday, January 17th. Finally, SunTrust Banks restated a “buy” rating and issued a $78.00 price target on shares of American Electric Power in a report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $75.43.
American Electric Power (NYSE:AEP) last released its quarterly earnings results on Thursday, January 25th. The utilities provider reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.04. The firm had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.92 billion. American Electric Power had a return on equity of 10.05% and a net margin of 12.39%. American Electric Power’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.67 EPS. equities analysts forecast that American Electric Power Company Inc will post 3.89 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 9th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date is Thursday, February 8th. American Electric Power’s payout ratio is 64.08%.
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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