American Electric Power Company, (AEP) Recommendation Trimmed to Buy at BidaskClub

Claudine Rigal
Juillet 10, 2017

State Street has an ownership of 25,061,133 stocks of the utilities provider's shares valued $1,682,343,000 after scooping up an extra 153,485 stocks in the previous period. McKinley Carter Wealth Services Inc.'s holdings in American Electric Power Company were worth $242,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its stake in American Electric Power Company by 2.3% in the fourth quarter. Federated Investors Inc. PA now owns 3,805,001 shares of the utilities provider's stock valued at $239,562,000 after buying an additional 60,102 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in American Electric Power Company by 1.9% in the fourth quarter. Finally, Baird Financial Group Inc. raised its stake in shares of American Electric Power Company by 4.4% in the fourth quarter. Insiders own 0.15% of the company's stock. Energy Income Partners LLC acquired a new position in American Electric Power Company during the fourth quarter valued at approximately $81,340,000. Institutional investors and hedge funds own 70.37% of the company's stock. Van ECK Associates Corp raised its position in shares of American Electric Power Company by 24.7% in the fourth quarter. AQR Capital Management LLC now owns 6,620,571 shares of the utilities provider's stock valued at $416,831,000 after buying an additional 125,055 shares during the period. At the time of writing, Shares the company recently traded 50.19% away 52-week low and noted price movement -0.67% away from the 52-week high level. (AEP) traded up 0.19% during mid-day trading on Friday, hitting $69.15. The firm has a market cap of $34.00 billion, a price-to-earnings ratio of 48.49 and a beta of 0.30. The firm has a 50-day moving average price of $70.83 and a 200 day moving average price of $66.67.

American Electric Power Company (NYSE:AEP) last announced its quarterly earnings results on Thursday, April 27th. The utilities provider posted $0.96 Earnings per share for the period, falling below Thomson Reuters' average forecast of $0.97 by $0.01. The company had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.85 billion. American Electric Power Company had a net margin of 4.31% and a return on equity of 10.78%. During the same quarter a year ago, the firm posted $1.02 EPS.

Brokerages have set a 1 year consensus price target of $53.00 for the company and are anticipating that the company will post $0.67 earnings per share for the current quarter, according to Zacks. Investors of record on Wednesday, May 10th were issued a $0.59 dividend. The ex-dividend date was Monday, May 8th. This represents a $2.36 dividend on an annualized basis and a yield of 3.41%. American Electric Power Company's payout ratio is 166.20%.

Shares of the company have shown an EPS growth of 124.90% in the last 5 years. "(AEP)" was first reported by BNB Daily and is the property of of BNB Daily. If you are viewing this article on another domain, it was illegally copied and republished in violation of global copyright legislation. The correct version of this story can be accessed at https://transcriptdaily.com/2017/07/10/american-electric-power-company-inc-aep-stake-lowered-by-mckinley-carter-wealth-services-inc-updated-updated.html.

A number of brokerages recently issued reports on EE. Jefferies Group LLC boosted their target price on shares of American Electric Power Company from $68.00 to $70.00 and gave the stock a "hold" rating in a research note on Friday, April 28th. Zacks Investment Research cut shares of American Electric Power Company from a "hold" rating to a "sell" rating in a research note on Friday, April 28th. (The) cut shares of American Electric Power Company from a "buy" rating to a "neutral" rating and lifted their target price for the company from $68.00 to $70.00 in a research note on Monday, June 26th. Barclays PLC reissued an "overweight" rating and issued a $76.00 price objective (up previously from $71.00) on shares of American Electric Power Company in a research report on Sunday, April 23rd. Mizuho restated a "buy" rating and issued a $72.50 price target on shares of American Electric Power Company in a report on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company's stock. The company has a consensus rating of "Hold" and an average price target of $71.30.

In other news, insider Paul Chodak III sold 1,110 shares of American Electric Power Company stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $52.47, for a total transaction of $183,645.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

American Electric Power Company 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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