Haverford Trust Co. Sells 1,761 Shares of American Electric Power Company Inc (NYSE:AEP)

Haverford Trust Co. reduced its holdings in American Electric Power Company Inc (NYSE:AEP) by 1.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 137,906 shares of the utilities provider’s stock after selling 1,761 shares during the period. Haverford Trust Co.’s holdings in American Electric Power were worth $12,920,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of AEP. 6 Meridian increased its holdings in American Electric Power by 1.8% in the second quarter. 6 Meridian now owns 6,357 shares of the utilities provider’s stock valued at $559,000 after purchasing an additional 111 shares during the last quarter. Wedbush Securities Inc. raised its stake in American Electric Power by 1.0% in the third quarter. Wedbush Securities Inc. now owns 10,989 shares of the utilities provider’s stock valued at $1,030,000 after buying an additional 111 shares during the period. Cedar Brook Financial Partners LLC raised its stake in American Electric Power by 4.5% in the third quarter. Cedar Brook Financial Partners LLC now owns 2,632 shares of the utilities provider’s stock valued at $247,000 after buying an additional 113 shares during the period. Atlantic Trust LLC raised its stake in American Electric Power by 4.1% in the second quarter. Atlantic Trust LLC now owns 2,952 shares of the utilities provider’s stock valued at $260,000 after buying an additional 117 shares during the period. Finally, DeDora Capital Inc. raised its stake in American Electric Power by 1.3% in the third quarter. DeDora Capital Inc. now owns 9,048 shares of the utilities provider’s stock valued at $848,000 after buying an additional 120 shares during the period. 73.77% of the stock is currently owned by institutional investors.

In other American Electric Power news, insider Charles E. Zebula sold 1,216 shares of American Electric Power stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $90.98, for a total transaction of $110,631.68. Following the transaction, the insider now directly owns 7,420 shares of the company’s stock, valued at approximately $675,071.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is currently owned by insiders.

Shares of AEP stock traded down $0.27 during trading hours on Friday, reaching $89.07. The company’s stock had a trading volume of 3,010,281 shares, compared to its average volume of 2,151,305. The firm’s 50 day simple moving average is $93.34 and its 200-day simple moving average is $89.91. The company has a market capitalization of $45.15 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 3.86 and a beta of 0.07. American Electric Power Company Inc has a fifty-two week low of $72.25 and a fifty-two week high of $96.22. The company has a quick ratio of 0.36, a current ratio of 0.48 and a debt-to-equity ratio of 1.27.

American Electric Power (NYSE:AEP) last released its quarterly earnings data on Thursday, October 24th. The utilities provider reported $1.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.14. American Electric Power had a return on equity of 11.09% and a net margin of 13.52%. The company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $5.08 billion. During the same quarter last year, the business posted $1.26 EPS. Sell-side analysts predict that American Electric Power Company Inc will post 4.19 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, November 7th. This is an increase from American Electric Power’s previous quarterly dividend of $0.67. This represents a $2.80 annualized dividend and a yield of 3.14%. American Electric Power’s payout ratio is presently 67.85%.

AEP has been the topic of several research analyst reports. ValuEngine lowered American Electric Power from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Mizuho increased their target price on American Electric Power from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Morgan Stanley increased their target price on American Electric Power from $91.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Zacks Investment Research upgraded American Electric Power from a “sell” rating to a “hold” rating and set a $96.00 target price on the stock in a research note on Thursday, July 11th. Finally, SunTrust Banks set a $102.00 price objective on American Electric Power and gave the stock a “buy” rating in a research note on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $95.27.

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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