Point72 Asia Hong Kong Ltd raised its position in American Electric Power Company Inc (NYSE:AEP) by 423.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 5,075 shares of the utilities provider’s stock after buying an additional 4,105 shares during the quarter. Point72 Asia Hong Kong Ltd’s holdings in American Electric Power were worth $348,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. NuWave Investment Management LLC increased its stake in American Electric Power by 977.2% in the 1st quarter. NuWave Investment Management LLC now owns 1,465 shares of the utilities provider’s stock valued at $101,000 after buying an additional 1,329 shares during the period. Icon Wealth Partners LLC acquired a new position in American Electric Power in the 4th quarter valued at $117,000. Optimum Investment Advisors purchased a new stake in shares of American Electric Power during the 1st quarter worth $141,000. Gradient Investments LLC purchased a new stake in shares of American Electric Power during the 4th quarter worth $167,000. Finally, Jacobi Capital Management LLC boosted its position in shares of American Electric Power by 367.9% during the 1st quarter. Jacobi Capital Management LLC now owns 2,438 shares of the utilities provider’s stock worth $166,000 after purchasing an additional 1,917 shares in the last quarter. 72.32% of the stock is currently owned by institutional investors.
In related news, EVP Mark C. Mccullough sold 721 shares of the business’s stock in a transaction dated Friday, May 4th. The shares were sold at an average price of $69.63, for a total value of $50,203.23. Following the sale, the executive vice president now directly owns 7,386 shares in the company, valued at approximately $514,287.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is owned by insiders.
American Electric Power (NYSE:AEP) last released its quarterly earnings data on Thursday, April 26th. The utilities provider reported $0.96 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.02). American Electric Power had a return on equity of 9.93% and a net margin of 11.41%. The business had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4 billion. During the same quarter in the prior year, the firm earned $0.96 earnings per share. American Electric Power’s quarterly revenue was up 2.6% on a year-over-year basis. analysts forecast that American Electric Power Company Inc will post 3.88 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 8th. Investors of record on Thursday, May 10th were given a $0.62 dividend. The ex-dividend date of this dividend was Wednesday, May 9th. This represents a $2.48 annualized dividend and a dividend yield of 3.91%. American Electric Power’s dividend payout ratio is presently 67.39%.
AEP has been the topic of several research analyst reports. Morgan Stanley set a $71.00 target price on shares of American Electric Power and gave the stock a “buy” rating in a research report on Thursday, March 8th. Guggenheim upgraded shares of American Electric Power from a “sell” rating to a “neutral” rating in a research report on Tuesday, February 20th. JPMorgan Chase & Co. decreased their target price on shares of American Electric Power from $70.00 to $69.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 10th. SunTrust Banks set a $76.00 target price on shares of American Electric Power and gave the stock a “buy” rating in a research report on Monday, March 19th. Finally, KeyCorp boosted their target price on shares of American Electric Power from $69.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 18th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $73.71.
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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.
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