Martingale Asset Management L P Trims Position in American Electric Power Company Inc (AEP)

Martingale Asset Management L P decreased its position in shares of American Electric Power Company Inc (NYSE:AEP) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 404,353 shares of the utilities provider’s stock after selling 7,893 shares during the period. Martingale Asset Management L P owned 0.08% of American Electric Power worth $29,749,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AEP. BlackRock Inc. lifted its position in shares of American Electric Power by 2.3% in the fourth quarter. BlackRock Inc. now owns 33,713,494 shares of the utilities provider’s stock worth $2,480,302,000 after buying an additional 763,950 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of American Electric Power by 15.2% in the fourth quarter. Wells Fargo & Company MN now owns 11,555,836 shares of the utilities provider’s stock worth $850,164,000 after buying an additional 1,526,465 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of American Electric Power by 70.2% in the third quarter. JPMorgan Chase & Co. now owns 6,696,615 shares of the utilities provider’s stock worth $472,110,000 after buying an additional 2,762,164 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of American Electric Power by 36.4% in the third quarter. Ameriprise Financial Inc. now owns 4,140,524 shares of the utilities provider’s stock worth $290,796,000 after buying an additional 1,103,849 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in shares of American Electric Power by 3.4% in the third quarter. Legal & General Group Plc now owns 3,714,801 shares of the utilities provider’s stock worth $260,924,000 after buying an additional 122,579 shares during the last quarter. 70.47% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Company Inc (NYSE AEP) opened at $65.68 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.49 and a quick ratio of 0.43. The company has a market capitalization of $32,257.85, a PE ratio of 17.92, a PEG ratio of 3.13 and a beta of 0.18. American Electric Power Company Inc has a 12 month low of $63.32 and a 12 month high of $78.07.

American Electric Power (NYSE:AEP) last posted its quarterly earnings data on Thursday, January 25th. The utilities provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.04. The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.92 billion. American Electric Power had a return on equity of 10.05% and a net margin of 12.39%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the previous year, the company posted $0.67 earnings per share. research analysts predict that American Electric Power Company Inc will post 3.89 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 9th will be paid a $0.62 dividend. The ex-dividend date is Thursday, February 8th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.78%. American Electric Power’s payout ratio is presently 64.08%.

A number of brokerages have weighed in on AEP. UBS Group began coverage on American Electric Power in a research report on Friday, February 2nd. They issued a “buy” rating and a $76.00 price target for the company. SunTrust Banks set a $75.00 price target on American Electric Power and gave the stock a “buy” rating in a research report on Monday, February 12th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $74.00 price target on shares of American Electric Power in a research report on Monday, October 30th. Macquarie raised American Electric Power from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $75.00 to $76.00 in a research report on Monday, January 22nd. Finally, Guggenheim raised American Electric Power from a “sell” rating to a “neutral” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $74.36.

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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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