Choreo LLC Increases Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Choreo LLC increased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 183.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,534 shares of the company’s stock after purchasing an additional 13,940 shares during the period. Choreo LLC’s holdings in American Electric Power were worth $1,880,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in AEP. Nomura Holdings Inc. acquired a new stake in shares of American Electric Power in the 4th quarter valued at about $175,667,000. Mitsubishi UFJ Trust & Banking Corp grew its position in American Electric Power by 542.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock worth $193,541,000 after purchasing an additional 1,927,234 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of American Electric Power by 381.9% in the first quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock valued at $171,127,000 after acquiring an additional 1,581,734 shares in the last quarter. National Bank of Canada FI boosted its holdings in shares of American Electric Power by 221.9% in the first quarter. National Bank of Canada FI now owns 1,715,346 shares of the company’s stock valued at $157,140,000 after acquiring an additional 1,182,451 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of American Electric Power by 67.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,586,250 shares of the company’s stock valued at $210,055,000 after acquiring an additional 1,043,885 shares in the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AEP has been the subject of a number of research reports. Scotiabank raised their target price on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Morgan Stanley increased their price objective on American Electric Power from $95.00 to $102.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Barclays lifted their target price on shares of American Electric Power from $91.00 to $96.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. LADENBURG THALM/SH SH raised American Electric Power from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $73.00 to $86.00 in a research report on Thursday, June 6th. Finally, BMO Capital Markets upped their price objective on shares of American Electric Power from $105.00 to $109.00 and gave the stock an “outperform” rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $95.15.

American Electric Power Trading Down 0.2 %

Shares of AEP stock opened at $103.05 on Thursday. American Electric Power Company, Inc. has a 12-month low of $69.38 and a 12-month high of $104.41. The company has a market capitalization of $54.32 billion, a P/E ratio of 19.12, a P/E/G ratio of 2.92 and a beta of 0.54. The firm has a 50-day moving average price of $96.75 and a 200 day moving average price of $90.05. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The company had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the previous year, the firm posted $1.13 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. Research analysts forecast that American Electric Power Company, Inc. will post 5.59 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 3.42%. The ex-dividend date was Friday, August 9th. American Electric Power’s dividend payout ratio is 65.31%.

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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.