American Electric Power Company, Inc. (NASDAQ:AEP) Shares Acquired by Whittier Trust Co.

Whittier Trust Co. boosted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 1.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,613 shares of the company’s stock after purchasing an additional 1,350 shares during the period. Whittier Trust Co.’s holdings in American Electric Power were worth $8,578,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Hodges Capital Management Inc. bought a new position in American Electric Power during the 1st quarter valued at $1,615,000. Quantbot Technologies LP bought a new position in shares of American Electric Power in the 1st quarter worth about $1,731,000. Nordea Investment Management AB lifted its position in shares of American Electric Power by 381.9% in the 1st quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock worth $171,127,000 after buying an additional 1,581,734 shares during the last quarter. Mizuho Markets Americas LLC lifted its position in shares of American Electric Power by 646.9% in the 1st quarter. Mizuho Markets Americas LLC now owns 261,440 shares of the company’s stock worth $22,510,000 after buying an additional 226,435 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of American Electric Power by 21.7% in the 1st quarter. ProShare Advisors LLC now owns 582,692 shares of the company’s stock worth $50,170,000 after buying an additional 103,771 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AEP. Jefferies Financial Group began coverage on shares of American Electric Power in a research report on Friday, September 20th. They issued a “hold” rating and a $107.00 price target on the stock. Scotiabank raised their price target on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Morgan Stanley raised their price target on shares of American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Barclays raised their price target on shares of American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. increased their price objective on shares of American Electric Power from $108.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $98.43.

American Electric Power Stock Down 0.5 %

American Electric Power stock opened at $100.16 on Tuesday. The stock has a market cap of $52.80 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 2.79 and a beta of 0.54. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53. The company’s 50-day moving average price is $100.49 and its two-hundred day moving average price is $93.52. American Electric Power Company, Inc. has a 52 week low of $72.01 and a 52 week high of $105.18.

American Electric Power (NASDAQ:AEP) last released its earnings results on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.23 by $0.02. The firm had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.74 billion. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. American Electric Power’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the company earned $1.13 EPS. On average, analysts expect that American Electric Power Company, Inc. will post 5.6 EPS for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a $0.88 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.52 annualized dividend and a dividend yield of 3.51%. American Electric Power’s dividend payout ratio is currently 65.31%.

American Electric Power Company Profile

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.