National Pension Service Purchases 26,744 Shares of American Electric Power Co. (AEP)
National Pension Service increased its position in American Electric Power Co. (NYSE:AEP) by 8.6% during the third quarter, Holdings Channel reports. The firm owned 338,258 shares of the company’s stock after buying an additional 26,744 shares during the period. National Pension Service’s holdings in American Electric Power were worth $21,720,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in the company. Brick & Kyle Associates boosted its position in American Electric Power by 18.7% in the second quarter. Brick & Kyle Associates now owns 1,430 shares of the company’s stock worth $100,000 after buying an additional 225 shares during the period. Jackson Grant Investment Advisers Inc. boosted its position in American Electric Power by 0.8% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,447 shares of the company’s stock worth $101,000 after buying an additional 12 shares during the period. Van ECK Associates Corp bought a new position in American Electric Power during the second quarter worth $104,000. Krilogy Financial LLC boosted its position in American Electric Power by 105.2% in the second quarter. Krilogy Financial LLC now owns 1,531 shares of the company’s stock worth $107,000 after buying an additional 785 shares during the period. Finally, Wealthcare Capital Management LLC bought a new position in American Electric Power during the second quarter worth $108,000. 67.52% of the stock is owned by institutional investors.
American Electric Power Co. (NYSE:AEP) traded down 2.19% during midday trading on Wednesday, reaching $59.93. The company’s stock had a trading volume of 818,231 shares. The stock’s 50-day moving average price is $61.65 and its 200-day moving average price is $65.32. American Electric Power Co. has a 12 month low of $54.08 and a 12 month high of $71.32. The firm has a market capitalization of $29.47 billion, a price-to-earnings ratio of 41.73 and a beta of 0.23.
American Electric Power (NYSE:AEP) last announced its quarterly earnings data on Tuesday, November 1st. The company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08. American Electric Power had a return on equity of 10.25% and a net margin of 4.37%. The company earned $4.70 billion during the quarter, compared to the consensus estimate of $4.68 billion. During the same quarter in the prior year, the firm earned $1.06 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. Analysts predict that American Electric Power Co. will post $3.79 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Thursday, November 10th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date is Tuesday, November 8th. This is an increase from American Electric Power’s previous quarterly dividend of $0.56. American Electric Power’s dividend payout ratio is 163.89%.
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A number of equities analysts have recently weighed in on the company. Evercore ISI cut American Electric Power from a “buy” rating to a “hold” rating in a report on Wednesday, November 2nd. SunTrust Banks Inc. boosted their price target on American Electric Power from $74.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, September 26th. Zacks Investment Research cut American Electric Power from a “buy” rating to a “hold” rating in a report on Wednesday, September 14th. RBC Capital Markets reissued a “hold” rating and issued a $67.00 price target (down from $72.00) on shares of American Electric Power in a report on Thursday, October 13th. Finally, Jefferies Group reissued a “hold” rating and issued a $62.00 price target (down from $66.50) on shares of American Electric Power in a report on Monday, November 14th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $68.50.
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 Company’s segments include Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing.
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