American Electric Power Company Inc (NYSE:AEP) Shares Sold by Alps Advisors Inc.

Alps Advisors Inc. lessened its holdings in American Electric Power Company Inc (NYSE:AEP) by 27.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 8,051 shares of the utilities provider’s stock after selling 3,073 shares during the period. Alps Advisors Inc.’s holdings in American Electric Power were worth $754,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Daiwa Securities Group Inc. lifted its position in shares of American Electric Power by 10.1% in the 3rd quarter. Daiwa Securities Group Inc. now owns 21,335 shares of the utilities provider’s stock worth $1,999,000 after purchasing an additional 1,953 shares during the period. Donaldson Capital Management LLC lifted its position in American Electric Power by 15.3% during the third quarter. Donaldson Capital Management LLC now owns 5,533 shares of the utilities provider’s stock valued at $518,000 after acquiring an additional 734 shares during the last quarter. Keybank National Association OH lifted its position in American Electric Power by 1.3% during the third quarter. Keybank National Association OH now owns 69,490 shares of the utilities provider’s stock valued at $6,511,000 after acquiring an additional 884 shares during the last quarter. Eastern Bank lifted its position in American Electric Power by 2.0% during the third quarter. Eastern Bank now owns 33,989 shares of the utilities provider’s stock valued at $3,184,000 after acquiring an additional 668 shares during the last quarter. Finally, Bartlett & Co. LLC lifted its position in American Electric Power by 12.2% during the third quarter. Bartlett & Co. LLC now owns 2,316 shares of the utilities provider’s stock valued at $217,000 after acquiring an additional 251 shares during the last quarter. 73.82% of the stock is owned by hedge funds and other institutional investors.

AEP traded up $1.15 during midday trading on Wednesday, hitting $92.03. 2,792,353 shares of the company traded hands, compared to its average volume of 2,425,422. The company has a current ratio of 0.48, a quick ratio of 0.36 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $45.12 billion, a price-to-earnings ratio of 23.30, a PEG ratio of 3.87 and a beta of 0.06. American Electric Power Company Inc has a 52-week low of $72.25 and a 52-week high of $96.22. The business has a 50 day simple moving average of $91.90 and a two-hundred day simple moving average of $90.69.

American Electric Power (NYSE:AEP) last posted its quarterly earnings results on Thursday, October 24th. The utilities provider reported $1.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.14. American Electric Power had a net margin of 13.52% and a return on equity of 11.09%. The firm had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $5.08 billion. During the same period last year, the firm posted $1.26 earnings per share. Equities research analysts anticipate that American Electric Power Company Inc will post 4.18 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, November 7th. This is an increase from American Electric Power’s previous quarterly dividend of $0.67. This represents a $2.80 dividend on an annualized basis and a yield of 3.04%. American Electric Power’s payout ratio is 70.89%.

A number of research analysts have issued reports on the stock. Mizuho upped their price target on shares of American Electric Power from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. UBS Group upped their price target on shares of American Electric Power from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Morgan Stanley increased their price objective on shares of American Electric Power from $91.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. increased their price objective on shares of American Electric Power from $92.00 to $104.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Wolfe Research set a $101.00 price objective on shares of American Electric Power and gave the stock a “buy” rating in a research note on Friday, October 25th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. American Electric Power presently has a consensus rating of “Hold” and an average target price of $96.40.

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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