Mackay Shields LLC Takes $10.04 Million Position in American Electric Power Company Inc (AEP)

Mackay Shields LLC acquired a new position in shares of American Electric Power Company Inc (NYSE:AEP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 134,358 shares of the utilities provider’s stock, valued at approximately $10,042,000.

A number of other hedge funds also recently added to or reduced their stakes in AEP. Oregon Public Employees Retirement Fund increased its position in American Electric Power by 7,281.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,970,039 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 3,916,258 shares in the last quarter. Commonwealth Bank of Australia increased its position in American Electric Power by 124.6% during the 4th quarter. Commonwealth Bank of Australia now owns 3,681,416 shares of the utilities provider’s stock worth $275,134,000 after purchasing an additional 2,042,518 shares in the last quarter. Capital Research Global Investors increased its position in American Electric Power by 9.1% during the 3rd quarter. Capital Research Global Investors now owns 18,496,658 shares of the utilities provider’s stock worth $1,311,043,000 after purchasing an additional 1,548,554 shares in the last quarter. BlackRock Inc. increased its position in American Electric Power by 3.9% in the 4th quarter. BlackRock Inc. now owns 36,683,081 shares of the utilities provider’s stock valued at $2,741,691,000 after acquiring an additional 1,381,916 shares during the period. Finally, Bridgeway Capital Management Inc. acquired a new position in American Electric Power in the 3rd quarter valued at approximately $61,120,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

Shares of NYSE AEP opened at $83.81 on Friday. American Electric Power Company Inc has a 52-week low of $62.71 and a 52-week high of $84.27. The company has a quick ratio of 0.37, a current ratio of 0.48 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $41.34 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 3.53 and a beta of 0.17.

American Electric Power (NYSE:AEP) last posted its quarterly earnings data on Thursday, January 24th. The utilities provider reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.01. American Electric Power had a net margin of 11.91% and a return on equity of 10.32%. The company had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same period in the prior year, the company posted $0.85 earnings per share. American Electric Power’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, research analysts expect that American Electric Power Company Inc will post 4.11 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 8th were given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 3.20%. The ex-dividend date was Thursday, February 7th. American Electric Power’s dividend payout ratio (DPR) is presently 67.85%.

AEP has been the subject of several recent research reports. Zacks Investment Research cut shares of American Electric Power from a “hold” rating to a “sell” rating in a research report on Friday, January 4th. Guggenheim cut shares of American Electric Power from a “buy” rating to a “neutral” rating in a research report on Monday, January 7th. They noted that the move was a valuation call. JPMorgan Chase & Co. set a $78.00 price target on shares of American Electric Power and gave the company a “hold” rating in a research report on Friday, January 25th. Finally, Mizuho cut shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $72.00 price target for the company. in a research report on Thursday, January 3rd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $78.21.

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About American Electric Power

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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

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

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