Gradient Investments LLC Purchases New Position in American Electric Power Company Inc (AEP)
Gradient Investments LLC purchased a new position in American Electric Power Company Inc (NYSE:AEP) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,273 shares of the utilities provider’s stock, valued at approximately $167,000.
A number of other hedge funds also recently bought and sold shares of the stock. Advisory Services Network LLC increased its stake in American Electric Power by 6.5% in the 2nd quarter. Advisory Services Network LLC now owns 2,672 shares of the utilities provider’s stock worth $186,000 after buying an additional 164 shares during the period. WFG Advisors LP increased its stake in American Electric Power by 36.3% in the 2nd quarter. WFG Advisors LP now owns 2,039 shares of the utilities provider’s stock worth $142,000 after buying an additional 543 shares during the period. Alps Advisors Inc. increased its stake in American Electric Power by 22.8% in the 3rd quarter. Alps Advisors Inc. now owns 3,684 shares of the utilities provider’s stock worth $259,000 after buying an additional 683 shares during the period. Moors & Cabot Inc. increased its stake in American Electric Power by 7.6% in the 3rd quarter. Moors & Cabot Inc. now owns 10,070 shares of the utilities provider’s stock worth $709,000 after buying an additional 715 shares during the period. Finally, Eqis Capital Management Inc. increased its stake in American Electric Power by 9.2% in the 3rd quarter. Eqis Capital Management Inc. now owns 8,920 shares of the utilities provider’s stock worth $627,000 after buying an additional 748 shares during the period. 70.74% of the stock is currently owned by institutional investors.
AEP has been the topic of several recent analyst reports. Morgan Stanley raised shares of American Electric Power from an “equal weight” rating to an “overweight” rating and set a $83.00 price target on the stock in a research note on Wednesday, December 13th. ValuEngine downgraded shares of American Electric Power from a “buy” rating to a “hold” rating in a research note on Tuesday, December 26th. Guggenheim downgraded shares of American Electric Power from a “neutral” rating to a “sell” rating in a research note on Tuesday, January 2nd. Zacks Investment Research downgraded shares of American Electric Power from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $78.00 price target on shares of American Electric Power in a research note on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company. American Electric Power currently has a consensus rating of “Buy” and a consensus target price of $74.36.
American Electric Power (NYSE:AEP) last posted its earnings results on Thursday, January 25th. The utilities provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.04. The business had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.92 billion. American Electric Power had a net margin of 12.39% and a return on equity of 10.05%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter last year, the firm posted $0.67 EPS. equities research analysts expect that American Electric Power Company Inc will post 3.89 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 9th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Thursday, February 8th. American Electric Power’s dividend payout ratio (DPR) is 64.08%.
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About American Electric Power
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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