American Electric Power Company Inc (AEP) Stake Increased by Berkshire Asset Management LLC PA

Berkshire Asset Management LLC PA lifted its holdings in American Electric Power Company Inc (NYSE:AEP) by 5.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,697 shares of the utilities provider’s stock after buying an additional 1,703 shares during the period. Berkshire Asset Management LLC PA’s holdings in American Electric Power were worth $2,247,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. OppenheimerFunds Inc. raised its holdings in shares of American Electric Power by 39.6% during the second quarter. OppenheimerFunds Inc. now owns 801,766 shares of the utilities provider’s stock worth $55,522,000 after acquiring an additional 227,613 shares in the last quarter. OLD Republic International Corp raised its holdings in shares of American Electric Power by 20.9% during the second quarter. OLD Republic International Corp now owns 312,800 shares of the utilities provider’s stock worth $21,661,000 after acquiring an additional 54,000 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of American Electric Power during the second quarter worth $18,478,000. City Holding Co. raised its holdings in shares of American Electric Power by 21.9% during the second quarter. City Holding Co. now owns 6,788 shares of the utilities provider’s stock worth $470,000 after acquiring an additional 1,221 shares in the last quarter. Finally, Adviser Investments LLC raised its holdings in shares of American Electric Power by 149.7% during the second quarter. Adviser Investments LLC now owns 2,987 shares of the utilities provider’s stock worth $207,000 after acquiring an additional 1,791 shares in the last quarter. 72.51% of the stock is owned by institutional investors and hedge funds.

AEP has been the subject of several recent research reports. ValuEngine upgraded American Electric Power from a “sell” rating to a “hold” rating in a report on Tuesday, June 26th. Zacks Investment Research lowered American Electric Power from a “hold” rating to a “sell” rating in a report on Wednesday, June 27th. Barclays initiated coverage on American Electric Power in a report on Tuesday, July 10th. They set an “overweight” rating and a $81.00 price objective for the company. Morgan Stanley increased their price objective on American Electric Power from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, July 16th. Finally, KeyCorp increased their price objective on American Electric Power from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, July 19th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $75.92.

NYSE AEP traded down $0.34 during trading on Friday, hitting $70.88. 298,286 shares of the company traded hands, compared to its average volume of 3,011,640. American Electric Power Company Inc has a 12 month low of $62.71 and a 12 month high of $78.07. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.50 and a quick ratio of 0.40. The firm has a market cap of $34.94 billion, a P/E ratio of 19.21, a price-to-earnings-growth ratio of 3.26 and a beta of 0.10.

American Electric Power (NYSE:AEP) last posted its earnings results on Wednesday, July 25th. The utilities provider reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.13. American Electric Power had a return on equity of 10.50% and a net margin of 12.09%. The company had revenue of $4 billion for the quarter, compared to analyst estimates of $3.85 billion. During the same period last year, the company earned $0.75 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. On average, equities analysts expect that American Electric Power Company Inc will post 3.89 EPS for the current year.

About American Electric Power

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.

Further Reading: Fundamental Analysis and Individual Investors

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

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