TD Asset Management Inc. grew its stake in American Electric Power Company, Inc. (NYSE:AEP) by 8.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 356,839 shares of the utilities provider’s stock after buying an additional 28,117 shares during the quarter. TD Asset Management Inc. owned approximately 0.07% of American Electric Power worth $29,164,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of AEP. Assenagon Asset Management S.A. increased its position in American Electric Power by 1.1% in the second quarter. Assenagon Asset Management S.A. now owns 30,859 shares of the utilities provider’s stock worth $2,458,000 after buying an additional 345 shares in the last quarter. FDx Advisors Inc. purchased a new stake in American Electric Power in the second quarter worth about $231,000. Cerebellum GP LLC purchased a new stake in American Electric Power in the second quarter worth about $68,000. Creative Financial Designs Inc. ADV increased its position in 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 buying an additional 278 shares in the last quarter. Finally, Retirement Systems of Alabama increased its position in American Electric Power by 0.8% in the second quarter. Retirement Systems of Alabama now owns 281,337 shares of the utilities provider’s stock worth $22,406,000 after buying an additional 2,255 shares in the last quarter. Institutional investors and hedge funds own 73.16% of the company’s stock.
In other news, EVP Paul Chodak III sold 2,024 shares of the firm’s stock in a transaction that occurred on Thursday, November 12th. The stock was sold at an average price of $90.67, for a total value of $183,516.08. Following the completion of the sale, the executive vice president now directly owns 6,580 shares of the company’s stock, valued at approximately $596,608.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is owned by company insiders.
Shares of American Electric Power stock opened at $82.49 on Friday. The stock has a 50 day moving average of $89.63 and a 200 day moving average of $83.84. American Electric Power Company, Inc. has a 12 month low of $65.14 and a 12 month high of $104.97. The firm has a market cap of $40.95 billion, a PE ratio of 21.43, a PEG ratio of 3.39 and a beta of 0.30. The company has a current ratio of 0.42, a quick ratio of 0.30 and a debt-to-equity ratio of 1.31.
American Electric Power (NYSE:AEP) last posted its quarterly earnings data on Thursday, October 22nd. The utilities provider reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.03. The business had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.21 billion. American Electric Power had a return on equity of 10.24% and a net margin of 12.56%. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period last year, the company earned $1.46 EPS. As a group, equities research analysts forecast that American Electric Power Company, Inc. will post 4.32 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Tuesday, November 10th will be paid a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 3.59%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Monday, November 9th. American Electric Power’s dividend payout ratio (DPR) is presently 69.81%.
A number of analysts have commented on AEP shares. Morgan Stanley upped their price target on American Electric Power from $106.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 17th. Wolfe Research reiterated a “peer perform” rating on shares of American Electric Power in a research report on Monday, November 16th. Barclays increased their target price on American Electric Power from $93.00 to $107.00 and gave the stock an “overweight” rating in a research report on Wednesday. Royal Bank of Canada increased their target price on American Electric Power from $94.00 to $98.00 and gave the stock an “outperform” rating in a research report on Monday, October 26th. Finally, KeyCorp increased their target price on American Electric Power from $96.00 to $97.00 and gave the stock an “overweight” rating in a research report on Monday, October 19th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $97.88.
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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.
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