American Electric Power Company Inc (AEP) Stake Lowered by Aspiriant LLC
Aspiriant LLC trimmed its holdings in shares of American Electric Power Company Inc (NYSE:AEP) by 18.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,725 shares of the utilities provider’s stock after selling 1,050 shares during the period. Aspiriant LLC’s holdings in American Electric Power were worth $356,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Orrstown Financial Services Inc. bought a new stake in American Electric Power in the 4th quarter valued at about $28,000. Quantamental Technologies LLC bought a new stake in American Electric Power in the 4th quarter valued at about $30,000. Arlington Partners LLC bought a new stake in American Electric Power in the 4th quarter valued at about $30,000. Mondrian Investment Partners LTD bought a new stake in American Electric Power in the 4th quarter valued at about $38,000. Finally, Mackey Komara & Dankovich LLC bought a new stake in American Electric Power in the 4th quarter valued at about $49,000. Institutional investors own 72.71% of the company’s stock.
In other news, insider Paul Chodak III sold 847 shares of the business’s stock in a transaction dated Wednesday, November 14th. The stock was sold at an average price of $76.47, for a total transaction of $64,770.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lisa M. Barton sold 881 shares of the business’s stock in a transaction dated Tuesday, November 20th. The stock was sold at an average price of $77.55, for a total value of $68,321.55. Following the transaction, the insider now directly owns 581 shares of the company’s stock, valued at approximately $45,056.55. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.
American Electric Power (NYSE:AEP) last announced its quarterly earnings results on Thursday, January 24th. The utilities provider reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.01. American Electric Power had a return on equity of 10.33% and a net margin of 11.91%. The firm had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.97 billion. During the same period in the prior year, the business posted $0.85 earnings per share. The company’s revenue was up .0% on a year-over-year basis. As a group, sell-side analysts predict that American Electric Power Company Inc will post 4.12 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 8th. Stockholders of record on Friday, February 8th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Thursday, February 7th. American Electric Power’s dividend payout ratio is presently 67.85%.
A number of brokerages recently issued reports on AEP. Zacks Investment Research cut American Electric Power from a “buy” rating to a “hold” rating in a research note on Tuesday, December 11th. Barclays boosted their price objective on American Electric Power from $81.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, November 19th. JPMorgan Chase & Co. set a $78.00 price objective on American Electric Power and gave the company a “hold” rating in a research note on Friday, January 25th. ValuEngine upgraded American Electric Power from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Finally, Guggenheim cut American Electric Power from a “buy” rating to a “neutral” rating in a research note on Monday, January 7th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $77.21.
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About American Electric Power
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.
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