American Electric Power Company, Inc. (AEP) Holdings Trimmed by Pictet Asset Management Ltd.

Pictet Asset Management Ltd. trimmed its holdings in shares of American Electric Power Company, Inc. (NYSE:AEP) by 9.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,943,213 shares of the utilities provider’s stock after selling 317,603 shares during the period. Pictet Asset Management Ltd. owned 0.60% of American Electric Power worth $206,731,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ledyard National Bank boosted its position in shares of American Electric Power by 52.6% in the 2nd quarter. Ledyard National Bank now owns 1,450 shares of the utilities provider’s stock worth $101,000 after purchasing an additional 500 shares during the last quarter. Point72 Asia Hong Kong Ltd bought a new position in shares of American Electric Power in the 1st quarter worth $105,000. Zions Bancorporation boosted its position in shares of American Electric Power by 1.3% in the 1st quarter. Zions Bancorporation now owns 1,680 shares of the utilities provider’s stock worth $113,000 after purchasing an additional 21 shares during the last quarter. Smithfield Trust Co. boosted its position in shares of American Electric Power by 8.1% in the 2nd quarter. Smithfield Trust Co. now owns 1,677 shares of the utilities provider’s stock worth $117,000 after purchasing an additional 125 shares during the last quarter. Finally, Thompson Davis & CO. Inc. boosted its position in shares of American Electric Power by 0.3% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,747 shares of the utilities provider’s stock worth $121,000 after purchasing an additional 6 shares during the last quarter. 71.37% of the stock is owned by institutional investors.

American Electric Power Company, Inc. (NYSE AEP) traded up $1.35 during midday trading on Tuesday, reaching $76.13. The company’s stock had a trading volume of 2,280,700 shares, compared to its average volume of 2,329,096. The company has a quick ratio of 0.43, a current ratio of 0.56 and a debt-to-equity ratio of 1.01. American Electric Power Company, Inc. has a 12-month low of $57.89 and a 12-month high of $76.30. The company has a market capitalization of $36,779.82, a PE ratio of 21.49, a PEG ratio of 4.34 and a beta of 0.29.

American Electric Power (NYSE:AEP) last released its earnings results on Thursday, October 26th. The utilities provider reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.06). The business had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.42 billion. American Electric Power had a return on equity of 9.67% and a net margin of 12.21%. The firm’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.30 earnings per share. equities research analysts expect that American Electric Power Company, Inc. will post 3.62 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 10th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, November 9th. This is an increase from American Electric Power’s previous quarterly dividend of $0.59. This represents a $2.48 annualized dividend and a dividend yield of 3.26%. American Electric Power’s dividend payout ratio is 64.92%.

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Several research analysts have weighed in on AEP shares. Zacks Investment Research upgraded American Electric Power from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Mizuho downgraded American Electric Power from a “buy” rating to a “neutral” rating and lowered their target price for the company from $74.00 to $73.00 in a research report on Friday, September 22nd. Morgan Stanley reaffirmed an “equal weight” rating on shares of American Electric Power in a research report on Friday, September 8th. Bank of America Corporation assumed coverage on American Electric Power in a research report on Tuesday, October 24th. They set a “buy” rating and a $79.00 price target on the stock. Finally, Jefferies Group LLC reissued a “hold” rating and set a $70.00 price target on shares of American Electric Power in a research report on Wednesday, July 19th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $73.91.

American Electric Power 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.

Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

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