Mirae Asset Global Investments Co. Ltd. cut its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 2.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 429,513 shares of the company’s stock after selling 10,097 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in American Electric Power were worth $36,165,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of the stock. Simplicity Solutions LLC increased its stake in American Electric Power by 12.7% in the 2nd quarter. Simplicity Solutions LLC now owns 21,695 shares of the company’s stock worth $1,827,000 after buying an additional 2,446 shares in the last quarter. Private Advisor Group LLC purchased a new stake in shares of American Electric Power during the first quarter worth about $4,175,000. U.S. Capital Wealth Advisors LLC raised its stake in American Electric Power by 134.3% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 102,298 shares of the company’s stock valued at $8,613,000 after purchasing an additional 58,631 shares during the period. Perpetual Ltd purchased a new position in American Electric Power in the 1st quarter worth approximately $521,000. Finally, Envestnet Asset Management Inc. boosted its stake in American Electric Power by 141.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,912,783 shares of the company’s stock worth $86,726,000 after purchasing an additional 1,119,687 shares during the period. Institutional investors own 74.68% of the company’s stock.
Analyst Upgrades and Downgrades
AEP has been the topic of several recent analyst reports. Guggenheim reduced their price objective on shares of American Electric Power from $96.00 to $85.00 in a research report on Monday, October 9th. Bank of America decreased their price target on shares of American Electric Power from $91.00 to $77.00 in a research note on Thursday, October 12th. Royal Bank of Canada cut their price objective on American Electric Power from $103.00 to $89.00 and set an “outperform” rating for the company in a research report on Wednesday, September 6th. JPMorgan Chase & Co. decreased their target price on American Electric Power from $96.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, October 12th. Finally, Morgan Stanley cut their price target on American Electric Power from $97.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday, October 25th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.37.
American Electric Power Trading Up 0.0 %
AEP stock opened at $77.39 on Monday. American Electric Power Company, Inc. has a twelve month low of $69.38 and a twelve month high of $100.32. The stock has a market capitalization of $40.70 billion, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 3.00 and a beta of 0.49. The company has a quick ratio of 0.44, a current ratio of 0.60 and a debt-to-equity ratio of 1.45. The firm’s fifty day simple moving average is $76.38 and its two-hundred day simple moving average is $80.86.
American Electric Power (NASDAQ:AEP – Get Free Report) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $1.77 EPS for the quarter, missing the consensus estimate of $1.85 by ($0.08). The firm had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.37 billion. American Electric Power had a net margin of 11.72% and a return on equity of 10.73%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.62 earnings per share. As a group, analysts anticipate that American Electric Power Company, Inc. will post 5.27 earnings per share for the current year.
American Electric Power Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 10th will be paid a dividend of $0.88 per share. This is a positive change from American Electric Power’s previous quarterly dividend of $0.83. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date of this dividend is Thursday, November 9th. American Electric Power’s dividend payout ratio (DPR) is currently 80.73%.
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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.
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