Moors & Cabot Inc. Increases Stake in American Electric Power Company Inc (NYSE:AEP)

Moors & Cabot Inc. increased its holdings in American Electric Power Company Inc (NYSE:AEP) by 5.0% in the second quarter, Holdings Channel.com reports. The firm owned 9,764 shares of the utilities provider’s stock after acquiring an additional 469 shares during the period. Moors & Cabot Inc.’s holdings in American Electric Power were worth $857,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Cornerstone Advisors Inc. boosted its stake in shares of American Electric Power by 47.2% in the 1st quarter. Cornerstone Advisors Inc. now owns 546 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 175 shares in the last quarter. QUANTRES ASSET MANAGEMENT Ltd boosted its position in American Electric Power by 186.2% during the 1st quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 8,300 shares of the utilities provider’s stock valued at $695,000 after buying an additional 5,400 shares during the period. Cetera Advisor Networks LLC boosted its position in American Electric Power by 14.7% during the 1st quarter. Cetera Advisor Networks LLC now owns 26,278 shares of the utilities provider’s stock valued at $2,204,000 after buying an additional 3,377 shares during the period. State Treasurer State of Michigan boosted its position in American Electric Power by 0.7% during the 1st quarter. State Treasurer State of Michigan now owns 142,181 shares of the utilities provider’s stock valued at $11,908,000 after buying an additional 1,000 shares during the period. Finally, ZWJ Investment Counsel Inc. purchased a new stake in American Electric Power during the 1st quarter valued at $319,000. 73.52% of the stock is owned by institutional investors.

In related news, CEO Nicholas K. Akins sold 11,152 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $84.94, for a total value of $947,250.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brian X. Tierney sold 4,392 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $86.02, for a total transaction of $377,799.84. Following the completion of the transaction, the vice president now owns 39,449 shares of the company’s stock, valued at $3,393,402.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,095 shares of company stock valued at $2,512,162. 0.16% of the stock is owned by company insiders.

Several equities research analysts have weighed in on AEP shares. Zacks Investment Research raised shares of General Moly from a “sell” rating to a “hold” rating in a research report on Thursday, July 11th. KeyCorp started coverage on shares of Southern in a research report on Tuesday, June 4th. They set a “sector weight” rating for the company. UBS Group reissued a “buy” rating on shares of Linde in a research report on Friday, July 12th. Wells Fargo & Co set a $95.00 price target on shares of Westinghouse Air Brake Technologies and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Wolfe Research set a $205.00 price target on shares of Raytheon and gave the company a “buy” rating in a research report on Friday, April 26th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. American Electric Power presently has a consensus rating of “Buy” and a consensus price target of $87.45.

NYSE AEP traded up $0.05 during trading on Wednesday, hitting $88.77. The company had a trading volume of 340,474 shares, compared to its average volume of 1,644,121. The company has a current ratio of 0.49, a quick ratio of 0.36 and a debt-to-equity ratio of 1.29. American Electric Power Company Inc has a one year low of $68.92 and a one year high of $91.99. The firm has a market capitalization of $43.85 billion, a P/E ratio of 22.47, a price-to-earnings-growth ratio of 3.79 and a beta of 0.16. The stock has a fifty day simple moving average of $89.87.

American Electric Power (NYSE:AEP) last issued its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.02. American Electric Power had a net margin of 12.53% and a return on equity of 10.69%. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same period in the prior year, the business earned $1.01 EPS. The company’s revenue for the quarter was down 10.0% on a year-over-year basis. As a group, equities research analysts expect that American Electric Power Company Inc will post 4.13 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be paid a $0.67 dividend. The ex-dividend date is Thursday, August 8th. This represents a $2.68 annualized dividend and a dividend yield of 3.02%. American Electric Power’s payout ratio is 67.85%.

American Electric Power Profile

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.

See Also: Liquidity

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

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