Tiedemann Advisors LLC Reduces Position in American Electric Power Company Inc (NYSE:AEP)

Tiedemann Advisors LLC decreased its stake in American Electric Power Company Inc (NYSE:AEP) by 1.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,953 shares of the utilities provider’s stock after selling 612 shares during the period. Tiedemann Advisors LLC’s holdings in American Electric Power were worth $3,781,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AEP. GQG Partners LLC boosted its holdings in shares of American Electric Power by 16,538.4% in the 1st quarter. GQG Partners LLC now owns 979,837 shares of the utilities provider’s stock valued at $81,819,000 after buying an additional 973,948 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of American Electric Power by 8.0% in the 4th quarter. Geode Capital Management LLC now owns 5,942,257 shares of the utilities provider’s stock valued at $443,292,000 after buying an additional 438,632 shares in the last quarter. USS Investment Management Ltd acquired a new position in shares of American Electric Power in the 1st quarter valued at $31,189,000. Ardevora Asset Management LLP acquired a new position in shares of American Electric Power in the 2nd quarter valued at $30,346,000. Finally, First Trust Advisors LP boosted its holdings in shares of American Electric Power by 37.9% in the 2nd quarter. First Trust Advisors LP now owns 969,673 shares of the utilities provider’s stock valued at $85,341,000 after buying an additional 266,342 shares in the last quarter. Institutional investors and hedge funds own 73.88% of the company’s stock.

NYSE:AEP traded down $0.68 during trading hours on Friday, reaching $91.34. 95,609 shares of the company’s stock were exchanged, compared to its average volume of 2,207,312. The firm has a market capitalization of $45.39 billion, a price-to-earnings ratio of 23.13, a P/E/G ratio of 3.89 and a beta of 0.11. The company has a 50-day moving average of $90.15 and a 200 day moving average of $87.07. The company has a quick ratio of 0.36, a current ratio of 0.49 and a debt-to-equity ratio of 1.29. American Electric Power Company Inc has a 1-year low of $68.92 and a 1-year high of $93.23.

American Electric Power (NYSE:AEP) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.00 earnings per share for the quarter, topping the Zacks’ 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 firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $4.13 billion. During the same quarter in the prior year, the business earned $1.01 EPS. American Electric Power’s quarterly revenue was down 10.0% compared to the same quarter last year. Research analysts forecast that American Electric Power Company Inc will post 4.13 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 2.93%. The ex-dividend date was Thursday, August 8th. American Electric Power’s dividend payout ratio (DPR) is presently 67.85%.

Several brokerages have recently issued reports on AEP. Bank of America restated a “buy” rating and issued a $98.00 target price (up previously from $93.00) on shares of American Electric Power in a report on Tuesday, July 9th. Morgan Stanley lowered their target price on shares of American Electric Power from $93.00 to $91.00 and set an “equal weight” rating for the company in a report on Friday, August 16th. Zacks Investment Research upgraded shares of American Electric Power from a “sell” rating to a “hold” rating and set a $96.00 price target for the company in a research note on Thursday, July 11th. KeyCorp began coverage on shares of American Electric Power in a research note on Tuesday, June 4th. They set a “sector weight” rating for the company. Finally, UBS Group increased their price target on shares of American Electric Power from $94.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $89.82.

In other news, insider Charles E. Zebula sold 1,216 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $90.98, for a total value of $110,631.68. Following the completion of the sale, the insider now owns 7,420 shares in the company, valued at approximately $675,071.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Brian X. Tierney sold 4,458 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $89.73, for a total transaction of $400,016.34. Following the completion of the sale, the vice president now owns 39,745 shares of the company’s stock, valued at approximately $3,566,318.85. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by company insiders.

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.

Further Reading: Are sell-side analysts objective?

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

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