Affinity Investment Advisors LLC Sells 2,400 Shares of American Electric Power Company, Inc. (AEP)
Affinity Investment Advisors LLC cut its stake in American Electric Power Company, Inc. (NYSE:AEP) by 1.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 147,200 shares of the utilities provider’s stock after selling 2,400 shares during the period. Affinity Investment Advisors LLC’s holdings in American Electric Power Company were worth $9,882,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Cranbrook Wealth Management LLC acquired a new stake in American Electric Power Company during the third quarter valued at approximately $110,000. Sowell Financial Services LLC purchased a new position in American Electric Power Company during the fourth quarter valued at $113,000. First Interstate Bank raised its position in American Electric Power Company by 17.2% in the fourth quarter. First Interstate Bank now owns 2,055 shares of the utilities provider’s stock valued at $129,000 after buying an additional 302 shares in the last quarter. Kistler Tiffany Companies LLC raised its position in American Electric Power Company by 19.8% in the first quarter. Kistler Tiffany Companies LLC now owns 2,028 shares of the utilities provider’s stock valued at $136,000 after buying an additional 335 shares in the last quarter. Finally, Pacific Center for Financial Services purchased a new position in American Electric Power Company during the fourth quarter valued at $137,000. 70.91% of the stock is owned by institutional investors.
American Electric Power Company, Inc. (NYSE:AEP) traded down 0.84% on Thursday, hitting $71.79. The stock had a trading volume of 2,172,148 shares. American Electric Power Company, Inc. has a 12-month low of $57.89 and a 12-month high of $72.72. The company has a market capitalization of $35.30 billion, a PE ratio of 50.34 and a beta of 0.31. The company has a 50 day moving average of $70.17 and a 200 day moving average of $66.20.
American Electric Power Company (NYSE:AEP) last issued its quarterly earnings results on Thursday, April 27th. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.97 by $0.01. American Electric Power Company had a return on equity of 10.78% and a net margin of 4.31%. The company had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.85 billion. During the same quarter in the previous year, the business earned $1.02 EPS. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, equities analysts expect that American Electric Power Company, Inc. will post $3.66 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Investors of record on Wednesday, May 10th were paid a $0.59 dividend. The ex-dividend date of this dividend was Monday, May 8th. This represents a $2.36 dividend on an annualized basis and a yield of 3.29%. American Electric Power Company’s dividend payout ratio is 166.20%.
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AEP has been the topic of several analyst reports. BidaskClub downgraded American Electric Power Company from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Jefferies Group LLC boosted their price target on American Electric Power Company from $68.00 to $70.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Zacks Investment Research lowered American Electric Power Company from a “hold” rating to a “sell” rating in a research report on Friday, April 28th. Barclays PLC restated an “overweight” rating and issued a $76.00 price objective (up previously from $71.00) on shares of American Electric Power Company in a report on Sunday, April 23rd. Finally, Mizuho restated a “buy” rating and issued a $72.50 price objective on shares of American Electric Power Company in a report on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $71.60.
In related news, insider Paul Chodak III sold 1,110 shares of American Electric Power Company stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $68.20, for a total value of $75,702.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.15% of the stock is currently owned by insiders.
American Electric Power Company Company Profile
American Electric Power Company, Inc (AEP) is a public utility holding company that owns, directly or indirectly, all of the outstanding common stock of its public utility subsidiaries and varying percentages of other subsidiaries. The service areas of the Company’s public utility subsidiaries cover the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.
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