Profund Advisors LLC increased its holdings in shares of American Electric Power Company Inc (NYSE:AEP) by 11.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,407 shares of the utilities provider’s stock after buying an additional 4,279 shares during the period. Profund Advisors LLC’s holdings in American Electric Power were worth $3,732,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in AEP. 6 Meridian raised its stake in shares of American Electric Power by 1.8% during the second quarter. 6 Meridian now owns 6,357 shares of the utilities provider’s stock valued at $559,000 after purchasing an additional 111 shares during the period. Atlantic Trust LLC lifted its holdings in American Electric Power by 4.1% in the 2nd quarter. Atlantic Trust LLC now owns 2,952 shares of the utilities provider’s stock valued at $260,000 after acquiring an additional 117 shares during the last quarter. Tarbox Family Office Inc. lifted its holdings in American Electric Power by 38.9% in the 2nd quarter. Tarbox Family Office Inc. now owns 436 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 122 shares during the last quarter. Intrust Bank NA lifted its holdings in American Electric Power by 0.7% in the 1st quarter. Intrust Bank NA now owns 19,137 shares of the utilities provider’s stock valued at $1,603,000 after acquiring an additional 127 shares during the last quarter. Finally, Executive Wealth Management LLC raised its holdings in American Electric Power by 20.3% during the 2nd quarter. Executive Wealth Management LLC now owns 813 shares of the utilities provider’s stock worth $72,000 after buying an additional 137 shares during the period. 73.88% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Brian X. Tierney sold 4,458 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $89.73, for a total transaction of $400,016.34. Following the sale, the vice president now directly owns 39,745 shares of the company’s stock, valued at approximately $3,566,318.85. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Charles E. Zebula sold 1,216 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $90.98, for a total transaction of $110,631.68. Following the sale, the insider now directly owns 7,420 shares in the company, valued at $675,071.60. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.
American Electric Power (NYSE:AEP) last issued its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $4.13 billion. During the same period last year, the company posted $1.01 earnings per share. American Electric Power’s revenue was down 10.0% compared to the same quarter last year. Research analysts anticipate that American Electric Power Company Inc will post 4.13 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a dividend of $0.67 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.93%. American Electric Power’s dividend payout ratio is currently 67.85%.
A number of equities analysts have recently weighed in on the company. Morgan Stanley dropped their target price on American Electric Power from $93.00 to $91.00 and set an “equal weight” rating on the stock in a report on Friday, August 16th. Bank of America reaffirmed a “buy” rating and set a $98.00 price target (up from $93.00) on shares of American Electric Power in a research report on Tuesday, July 9th. UBS Group raised their target price on American Electric Power from $94.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Zacks Investment Research raised American Electric Power from a “sell” rating to a “hold” rating and set a $96.00 price target for the company in a report on Thursday, July 11th. Finally, SunTrust Banks raised their price target on American Electric Power from $98.00 to $99.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $89.82.
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.
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