American Electric Power Company Inc (AEP) Shares Bought by M&T Bank Corp

M&T Bank Corp grew its position in American Electric Power Company Inc (NYSE:AEP) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 713,268 shares of the utilities provider’s stock after acquiring an additional 14,541 shares during the period. M&T Bank Corp’s holdings in American Electric Power were worth $52,474,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of AEP. JPMorgan Chase & Co. raised its stake in shares of American Electric Power by 70.2% in the third quarter. JPMorgan Chase & Co. now owns 6,696,615 shares of the utilities provider’s stock valued at $472,110,000 after acquiring an additional 2,762,164 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of American Electric Power by 29.1% in the third quarter. Wells Fargo & Company MN now owns 10,029,371 shares of the utilities provider’s stock valued at $704,464,000 after acquiring an additional 2,260,303 shares during the last quarter. APG Asset Management N.V. raised its stake in shares of American Electric Power by 153.2% in the third quarter. APG Asset Management N.V. now owns 3,376,206 shares of the utilities provider’s stock valued at $237,145,000 after acquiring an additional 2,042,700 shares during the last quarter. Jennison Associates LLC raised its stake in shares of American Electric Power by 60.0% in the fourth quarter. Jennison Associates LLC now owns 3,125,059 shares of the utilities provider’s stock valued at $229,911,000 after acquiring an additional 1,172,085 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of American Electric Power by 36.4% in the third quarter. Ameriprise Financial Inc. now owns 4,140,524 shares of the utilities provider’s stock valued at $290,796,000 after acquiring an additional 1,103,849 shares during the last quarter. Institutional investors own 71.12% of the company’s stock.

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of American Electric Power to $75.00 and gave the company a “neutral” rating in a research note on Thursday, October 12th. Morgan Stanley upgraded shares of American Electric Power from an “equal weight” rating to an “overweight” rating and set a $83.00 target price for the company in a research note on Wednesday, December 13th. Deutsche Bank cut shares of American Electric Power from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. ValuEngine cut shares of American Electric Power from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Finally, Zacks Investment Research cut shares of American Electric Power from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. American Electric Power currently has an average rating of “Buy” and a consensus target price of $75.43.

Shares of American Electric Power Company Inc (NYSE AEP) opened at $63.67 on Friday. The company has a market cap of $31,702.01, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 3.08 and a beta of 0.18. American Electric Power Company Inc has a 1 year low of $62.69 and a 1 year high of $78.07. The company has a current ratio of 0.49, a quick ratio of 0.43 and a debt-to-equity ratio of 1.04.

American Electric Power (NYSE:AEP) last issued its earnings results on Thursday, January 25th. The utilities provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.81 by $0.04. The company had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.92 billion. American Electric Power had a net margin of 12.39% and a return on equity of 10.05%. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS. equities research analysts forecast that American Electric Power Company Inc will post 3.89 earnings per share for the current fiscal 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 dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend is Thursday, February 8th. American Electric Power’s payout ratio is 64.08%.

COPYRIGHT VIOLATION NOTICE: “American Electric Power Company Inc (AEP) Shares Bought by M&T Bank Corp” was reported by Community Financial News and is the sole property of of Community Financial News. If you are reading this story on another website, it was illegally stolen and republished in violation of US and international trademark & copyright laws. The correct version of this story can be read at https://www.com-unik.info/2018/02/09/american-electric-power-company-inc-aep-shares-bought-by-mt-bank-corp.html.

American Electric Power Company 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.

Want to see what other hedge funds are holding AEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Electric Power Company Inc (NYSE:AEP).

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

Receive News & Ratings for American Electric Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Electric Power and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit