MARSHALL WACE ASIA Ltd lowered its stake in shares of American Electric Power Company Inc (NYSE:AEP) by 0.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 71,664 shares of the utilities provider’s stock after selling 454 shares during the period. MARSHALL WACE ASIA Ltd’s holdings in American Electric Power were worth $5,080,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. SevenBridge Financial Group LLC acquired a new stake in shares of American Electric Power in the 3rd quarter valued at $136,000. Private Capital Group LLC raised its holdings in shares of American Electric Power by 83.9% in the 3rd quarter. Private Capital Group LLC now owns 2,082 shares of the utilities provider’s stock valued at $147,000 after purchasing an additional 950 shares in the last quarter. Valeo Financial Advisors LLC raised its holdings in shares of American Electric Power by 59.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,145 shares of the utilities provider’s stock valued at $152,000 after purchasing an additional 799 shares in the last quarter. Girard Partners LTD. acquired a new stake in shares of American Electric Power in the 3rd quarter valued at $156,000. Finally, Belpointe Asset Management LLC acquired a new stake in shares of American Electric Power in the 3rd quarter valued at $162,000. 72.72% of the stock is owned by institutional investors.

In other news, insider Lisa M. Barton sold 881 shares of the business’s stock in a transaction that occurred on Tuesday, November 20th. The shares were sold at an average price of $77.55, for a total value of $68,321.55. Following the completion of the transaction, the insider now owns 581 shares of the company’s stock, valued at $45,056.55. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Paul Chodak III sold 847 shares of the business’s stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $76.47, for a total transaction of $64,770.09. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Shares of NYSE AEP traded up $0.34 on Thursday, hitting $78.76. The company’s stock had a trading volume of 3,118,910 shares, compared to its average volume of 2,991,304. American Electric Power Company Inc has a 12-month low of $62.71 and a 12-month high of $79.31. The company has a market capitalization of $38.67 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 3.56 and a beta of 0.01. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.56 and a quick ratio of 0.46.

American Electric Power (NYSE:AEP) last posted its quarterly earnings data on Thursday, October 25th. The utilities provider reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.05. The business had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.26 billion. American Electric Power had a net margin of 12.14% and a return on equity of 10.78%. During the same quarter in the previous year, the business posted $1.10 earnings per share. On average, analysts forecast that American Electric Power Company Inc will post 3.96 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 9th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date is Thursday, November 8th. This is a positive change from American Electric Power’s previous quarterly dividend of $0.62. American Electric Power’s payout ratio is currently 72.83%.

Several brokerages recently commented on AEP. Morgan Stanley lifted their price target on shares of American Electric Power from $76.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, September 11th. ValuEngine upgraded shares of American Electric Power from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Citigroup lifted their price target on shares of American Electric Power from $71.00 to $72.00 and gave the stock a “neutral” rating in a research note on Monday, September 10th. Barclays lifted their price target on shares of American Electric Power from $81.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, November 19th. Finally, Zacks Investment Research upgraded shares of American Electric Power from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Monday, October 15th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $76.56.

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American Electric Power 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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

See Also: Depreciation

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Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

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