Morgan Stanley Cuts Stake in American Electric Power Company Inc (AEP)

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Morgan Stanley lessened its holdings in American Electric Power Company Inc (NYSE:AEP) by 8.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,981,270 shares of the utilities provider’s stock after selling 273,237 shares during the quarter. Morgan Stanley owned 0.60% of American Electric Power worth $206,451,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. FormulaFolio Investments LLC raised its position in American Electric Power by 23.0% during the second quarter. FormulaFolio Investments LLC now owns 3,985 shares of the utilities provider’s stock worth $276,000 after acquiring an additional 745 shares in the last quarter. Douglass Winthrop Advisors LLC raised its position in American Electric Power by 5.2% during the second quarter. Douglass Winthrop Advisors LLC now owns 15,941 shares of the utilities provider’s stock worth $1,104,000 after acquiring an additional 782 shares in the last quarter. Valeo Financial Advisors LLC raised its position in American Electric Power by 59.4% during the second quarter. Valeo Financial Advisors LLC now owns 2,145 shares of the utilities provider’s stock worth $152,000 after acquiring an additional 799 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its position in American Electric Power by 1.0% during the first quarter. Mn Services Vermogensbeheer B.V. now owns 77,328 shares of the utilities provider’s stock worth $5,304,000 after acquiring an additional 800 shares in the last quarter. Finally, DnB Asset Management AS raised its position in American Electric Power by 3.1% during the second quarter. DnB Asset Management AS now owns 26,900 shares of the utilities provider’s stock worth $1,863,000 after acquiring an additional 800 shares in the last quarter. 72.52% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have issued reports on AEP. Morgan Stanley upped their price target on shares of American Electric Power from $76.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, September 11th. Guggenheim raised shares of American Electric Power from a “neutral” rating to a “buy” rating in a research report on Monday, September 10th. They noted that the move was a valuation call. Citigroup upped their price target on shares of American Electric Power from $71.00 to $72.00 and gave the stock a “neutral” rating in a research report on Monday, September 10th. Mizuho reaffirmed a “buy” rating and set a $74.50 price target on shares of American Electric Power in a research report on Friday, July 27th. Finally, Goldman Sachs Group raised shares of American Electric Power from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $76.00 to $74.00 in a research report on Thursday, July 19th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $75.47.

NYSE:AEP opened at $72.60 on Friday. American Electric Power Company Inc has a one year low of $62.71 and a one year high of $78.07. The firm has a market capitalization of $35.74 billion, a price-to-earnings ratio of 19.73, a P/E/G ratio of 3.33 and a beta of 0.09. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.40 and a current ratio of 0.50.

American Electric Power (NYSE:AEP) last released its quarterly earnings data on Wednesday, July 25th. The utilities provider reported $1.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.13. American Electric Power had a net margin of 12.09% and a return on equity of 10.50%. The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.85 billion. During the same period in the previous year, the company earned $0.75 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. analysts predict that American Electric Power Company Inc will post 3.89 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 10th. Shareholders of record on Friday, August 10th were issued a $0.62 dividend. The ex-dividend date was Thursday, August 9th. This represents a $2.48 annualized dividend and a dividend yield of 3.42%. American Electric Power’s dividend payout ratio is currently 67.39%.

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

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