Doyle Wealth Management boosted its position in shares of American Electric Power Company, Inc. (NYSE:AEP) by 9.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,946 shares of the utilities provider’s stock after buying an additional 937 shares during the period. Doyle Wealth Management’s holdings in American Electric Power were worth $760,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of AEP. Ledyard National Bank increased its stake in shares of American Electric Power by 52.6% in the second quarter. Ledyard National Bank now owns 1,450 shares of the utilities provider’s stock valued at $101,000 after buying an additional 500 shares during the last quarter. Point72 Asia Hong Kong Ltd acquired a new position in American Electric Power during the first quarter valued at approximately $105,000. Chicago Partners Investment Group LLC boosted its position in American Electric Power by 0.3% in the first quarter. Chicago Partners Investment Group LLC now owns 1,599 shares of the utilities provider’s stock valued at $107,000 after buying an additional 5 shares during the period. Zions Bancorporation boosted its position in American Electric Power by 1.3% in the first quarter. Zions Bancorporation now owns 1,680 shares of the utilities provider’s stock valued at $113,000 after buying an additional 21 shares during the period. Finally, Thompson Davis & CO. Inc. boosted its position in American Electric Power by 0.3% in the first quarter. Thompson Davis & CO. Inc. now owns 1,741 shares of the utilities provider’s stock valued at $117,000 after buying an additional 6 shares during the period. 70.77% of the stock is owned by hedge funds and other institutional investors.
Shares of American Electric Power Company, Inc. (NYSE:AEP) traded up 0.22% during midday trading on Friday, hitting $72.16. The stock had a trading volume of 2,871,369 shares. The company’s 50 day moving average price is $70.00 and its 200-day moving average price is $68.41. American Electric Power Company, Inc. has a 1-year low of $57.89 and a 1-year high of $72.97. The firm has a market capitalization of $35.49 billion, a PE ratio of 62.10 and a beta of 0.30.
American Electric Power (NYSE:AEP) last released its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.82 by $0.07. American Electric Power had a return on equity of 10.32% and a net margin of 3.60%. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the prior year, the firm earned $0.95 earnings per share. Equities analysts predict that American Electric Power Company, Inc. will post $3.66 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 10th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $2.36 dividend on an annualized basis and a yield of 3.27%. American Electric Power’s dividend payout ratio (DPR) is currently 203.45%.
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Several research firms recently commented on AEP. Goldman Sachs Group, Inc. (The) cut American Electric Power from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $68.00 to $70.00 in a research note on Monday, June 26th. Royal Bank Of Canada restated a “hold” rating and set a $71.00 price objective on shares of American Electric Power in a research note on Wednesday, August 2nd. Jefferies Group LLC upped their price objective on American Electric Power from $68.00 to $70.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Morgan Stanley upped their price objective on American Electric Power from $71.00 to $73.00 and gave the company an “equal weight” rating in a research note on Thursday, August 10th. Finally, BidaskClub lowered American Electric Power from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $72.17.
American Electric Power 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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