Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of American Electric Power Company Inc (NYSE:AEP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 12,189 shares of the utilities provider’s stock, valued at approximately $971,000.
Other large investors also recently added to or reduced their stakes in the company. Capital Advisory Group Advisory Services LLC bought a new stake in American Electric Power during the first quarter valued at about $28,000. CVA Family Office LLC bought a new position in shares of American Electric Power in the first quarter worth about $28,000. Creative Financial Designs Inc. ADV boosted its stake in shares of American Electric Power by 278.0% in the second quarter. Creative Financial Designs Inc. ADV now owns 378 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 278 shares during the period. Weaver Consulting Group boosted its stake in shares of American Electric Power by 75.6% in the second quarter. Weaver Consulting Group now owns 418 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 180 shares during the period. Finally, Balentine LLC bought a new position in shares of American Electric Power in the first quarter worth about $36,000. 73.16% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on AEP. KeyCorp upped their price objective on American Electric Power from $93.00 to $96.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Seaport Global Securities began coverage on American Electric Power in a research note on Wednesday, May 20th. They issued a “buy” rating and a $86.00 price objective for the company. Bank of America lowered American Electric Power from a “buy” rating to a “neutral” rating and set a $80.00 price objective for the company. in a research note on Friday, May 15th. TheStreet raised American Electric Power from a “c+” rating to a “b-” rating in a research note on Tuesday, July 21st. Finally, UBS Group boosted their target price on American Electric Power from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $96.17.
AEP stock traded down $0.33 during midday trading on Monday, reaching $78.02. 130,392 shares of the company traded hands, compared to its average volume of 3,305,695. American Electric Power Company Inc has a 52-week low of $65.14 and a 52-week high of $104.97. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.30 and a current ratio of 0.42. The business has a 50 day moving average of $84.38 and a 200-day moving average of $84.99. The firm has a market capitalization of $38.87 billion, a price-to-earnings ratio of 20.35, a P/E/G ratio of 3.25 and a beta of 0.38.
American Electric Power (NYSE:AEP) last released its earnings results on Thursday, August 6th. The utilities provider reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.03. The firm had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.95 billion. American Electric Power had a return on equity of 10.24% and a net margin of 12.56%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.00 earnings per share. Research analysts anticipate that American Electric Power Company Inc will post 4.32 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.59%. American Electric Power’s dividend payout ratio is 66.04%.
American Electric Power Company 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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