Gulf International Bank UK Ltd Reduces Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Gulf International Bank UK Ltd decreased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 0.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 98,893 shares of the company’s stock after selling 375 shares during the quarter. Gulf International Bank UK Ltd’s holdings in American Electric Power were worth $8,365,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of AEP. Geode Capital Management LLC grew its holdings in shares of American Electric Power by 1.8% during the first quarter. Geode Capital Management LLC now owns 7,601,089 shares of the company’s stock worth $641,893,000 after buying an additional 137,644 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of American Electric Power by 6.9% during the first quarter. Ameriprise Financial Inc. now owns 7,323,391 shares of the company’s stock worth $620,283,000 after buying an additional 472,691 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in shares of American Electric Power by 1.1% during the first quarter. Nuveen Asset Management LLC now owns 6,086,778 shares of the company’s stock worth $515,550,000 after buying an additional 68,026 shares during the last quarter. Northern Trust Corp grew its holdings in shares of American Electric Power by 1.1% during the first quarter. Northern Trust Corp now owns 5,571,361 shares of the company’s stock worth $471,894,000 after buying an additional 61,714 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of American Electric Power by 21.3% during the first quarter. JPMorgan Chase & Co. now owns 3,759,051 shares of the company’s stock worth $318,393,000 after buying an additional 659,918 shares during the last quarter. 73.60% of the stock is currently owned by institutional investors.

AEP stock opened at $87.83 on Wednesday. The firm has a 50 day moving average of $88.49 and a 200-day moving average of $86.22. American Electric Power Company, Inc. has a 12-month low of $74.80 and a 12-month high of $94.21. The company has a current ratio of 0.44, a quick ratio of 0.33 and a debt-to-equity ratio of 1.42. The company has a market cap of $43.94 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 3.30 and a beta of 0.27.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings results on Wednesday, July 21st. The company reported $1.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.04. American Electric Power had a net margin of 14.78% and a return on equity of 11.02%. The company had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same period last year, the firm earned $1.08 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. Sell-side analysts forecast that American Electric Power Company, Inc. will post 4.7 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Investors of record on Tuesday, August 10th were given a dividend of $0.74 per share. The ex-dividend date was Monday, August 9th. This represents a $2.96 annualized dividend and a dividend yield of 3.37%. American Electric Power’s dividend payout ratio is currently 66.67%.

In related news, CEO Nicholas K. Akins sold 2,100 shares of American Electric Power stock in a transaction that occurred on Wednesday, September 1st. The stock was sold at an average price of $89.76, for a total transaction of $188,496.00. Following the completion of the transaction, the chief executive officer now directly owns 98,672 shares in the company, valued at approximately $8,856,798.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.14% of the company’s stock.

A number of equities research analysts have weighed in on AEP shares. Barclays lifted their price objective on American Electric Power from $95.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, May 25th. Morgan Stanley lifted their price objective on American Electric Power from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, August 19th. Wells Fargo & Company lowered their price objective on American Electric Power from $96.00 to $93.00 and set an “equal weight” rating on the stock in a report on Friday, July 23rd. Finally, Bank of America raised American Electric Power from a “neutral” rating to a “buy” rating and set a $86.88 price objective on the stock in a report on Monday, July 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $95.21.

American Electric Power Profile

American Electric Power Co, Inc engages in the business of generation, transmission and distribution of electricity. It operates through the following segments: Vertically Integrated Utilities, Transmission & Distribution Utilities, AEP Transmission Holdco and Generation & Marketing. The Vertically Integrated Utilities segment engages in the generation, transmission and distribution of electricity for sale to retail and wholesale customers through assets owned and operated by its subsidiaries.

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

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