Swiss National Bank Reduces Position in American Electric Power Co. (AEP)
Swiss National Bank cut its stake in shares of American Electric Power Co. (NYSE:AEP) by 1.1% during the third quarter, Holdings Channel reports. The firm owned 1,361,689 shares of the company’s stock after selling 14,600 shares during the period. Swiss National Bank’s holdings in American Electric Power were worth $87,434,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in AEP. Brick & Kyle Associates increased its stake in American Electric Power by 18.7% in the second quarter. Brick & Kyle Associates now owns 1,430 shares of the company’s stock valued at $100,000 after buying an additional 225 shares during the period. Smithfield Trust Co. increased its stake in American Electric Power by 14.8% in the third quarter. Smithfield Trust Co. now owns 1,552 shares of the company’s stock worth $100,000 after buying an additional 200 shares during the last quarter. Jackson Grant Investment Advisers Inc. increased its stake 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 last quarter. Van ECK Associates Corp bought a new stake in American Electric Power during the second quarter worth $104,000. Finally, Krilogy Financial LLC increased its stake 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 last quarter. Institutional investors and hedge funds own 67.52% of the company’s stock.
Shares of American Electric Power Co. (NYSE:AEP) opened at 60.90 on Tuesday. American Electric Power Co. has a 52-week low of $54.08 and a 52-week high of $71.32. The firm has a 50 day moving average price of $61.65 and a 200-day moving average price of $65.32. The company has a market cap of $29.95 billion, a price-to-earnings ratio of 42.41 and a beta of 0.23.
American Electric Power (NYSE:AEP) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $1.30 EPS for the quarter, topping the Zacks’ consensus estimate 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 firm earned $4.70 billion during the quarter, compared to analyst estimates of $4.68 billion. During the same period last year, the company earned $1.06 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities research analysts anticipate that American Electric Power Co. will post $3.79 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Thursday, November 10th will be paid a dividend of $0.59 per share. This is a positive change from American Electric Power’s previous quarterly dividend of $0.56. The ex-dividend date is Tuesday, November 8th. This represents a $2.36 annualized dividend and a yield of 3.95%. American Electric Power’s dividend payout ratio (DPR) is currently 163.89%.
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A number of analysts have recently weighed in on AEP shares. KeyCorp set a $72.50 target price on American Electric Power and gave the company a “buy” rating in a research report on Monday, September 12th. Zacks Investment Research upgraded American Electric Power from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research report on Tuesday, September 13th. Jefferies Group reiterated a “hold” rating and set a $67.00 target price on shares of American Electric Power in a research report on Tuesday, October 25th. Citigroup Inc. upped their target price on American Electric Power from $68.00 to $69.00 and gave the company a “neutral” rating in a research report on Thursday, September 8th. Finally, Royal Bank Of Canada cut their target price on American Electric Power from $72.00 to $67.00 and set a “sector perform” rating for the company in a research report on Thursday, October 13th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target 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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