Meadow Creek Investment Management LLC increased its position in shares of American Electric Power Company Inc (NYSE:AEP) by 12.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 172,108 shares of the utilities provider’s stock after buying an additional 18,836 shares during the period. Meadow Creek Investment Management LLC’s holdings in American Electric Power were worth $12,662,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of AEP. Chicago Partners Investment Group LLC acquired a new stake in American Electric Power in the third quarter worth $113,000. Icon Wealth Partners LLC acquired a new stake in American Electric Power in the fourth quarter worth $117,000. Bank of Nova Scotia Trust Co. acquired a new stake in American Electric Power in the third quarter worth $140,000. Gradient Investments LLC acquired a new stake in American Electric Power in the fourth quarter worth $167,000. Finally, Global Trust Asset Management LLC acquired a new stake in American Electric Power in the fourth quarter worth $182,000. Institutional investors and hedge funds own 71.69% of the company’s stock.
A number of equities research analysts have commented on AEP shares. ValuEngine upgraded shares of American Electric Power from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. Zacks Investment Research cut shares of American Electric Power from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Morgan Stanley upgraded shares of American Electric Power from an “equal weight” rating to an “overweight” rating and set a $83.00 price target for the company in a report on Wednesday, December 13th. Guggenheim cut shares of American Electric Power from a “neutral” rating to a “sell” rating in a report on Tuesday, January 2nd. Finally, SunTrust Banks restated a “buy” rating and issued a $78.00 price target on shares of American Electric Power in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $74.36.
American Electric Power (NYSE:AEP) last issued its quarterly earnings data on Thursday, January 25th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.04. The firm had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.92 billion. American Electric Power had a net margin of 12.39% and a return on equity of 10.05%. The business’s revenue was up .0% on a year-over-year basis. During the same period last year, the company earned $0.67 earnings per share. sell-side analysts anticipate 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 was paid on Friday, March 9th. Stockholders of record on Friday, February 9th were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date of this dividend was Thursday, February 8th. American Electric Power’s dividend payout ratio is currently 64.08%.
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American Electric Power 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.
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