Teachers Advisors LLC Cuts Stake in American Electric Power Company Inc (AEP)
Teachers Advisors LLC lessened its position in shares of American Electric Power Company Inc (NYSE:AEP) by 1.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,372,263 shares of the utilities provider’s stock after selling 24,879 shares during the quarter. Teachers Advisors LLC’s holdings in American Electric Power were worth $100,957,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in AEP. Chicago Partners Investment Group LLC acquired a new position in shares of American Electric Power during the 3rd quarter worth $113,000. Icon Wealth Partners LLC acquired a new position in American Electric Power in the 4th quarter valued at about $117,000. Bank of Nova Scotia Trust Co. acquired a new position in American Electric Power in the 3rd quarter valued at about $140,000. Gradient Investments LLC acquired a new position in American Electric Power in the 4th quarter valued at about $167,000. Finally, Global Trust Asset Management LLC acquired a new position in American Electric Power in the 4th quarter valued at about $182,000. 71.69% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently weighed in on AEP. 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. Morgan Stanley raised shares of American Electric Power from an “equal weight” rating to an “overweight” rating and set a $83.00 price objective for the company in a research note on Wednesday, December 13th. ValuEngine raised shares of American Electric Power from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Guggenheim downgraded shares of American Electric Power from a “neutral” rating to a “sell” rating in a research note on Tuesday, January 2nd. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $78.00 price objective on shares of American Electric Power in a research note on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $74.36.
American Electric Power (NYSE:AEP) last issued its earnings results on Thursday, January 25th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.04. American Electric Power had a return on equity of 10.05% and a net margin of 12.39%. The business had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the previous year, the business earned $0.67 EPS. The company’s revenue for the quarter was up .0% on a year-over-year basis. research analysts expect that American Electric Power Company Inc will post 3.89 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Friday, February 9th were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend was Thursday, February 8th. American Electric Power’s dividend payout ratio is presently 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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