American Electric Power Company Inc (NYSE:AEP) is Duff & Phelps Investment Management Co.’s Largest Position

Duff & Phelps Investment Management Co. decreased its holdings in American Electric Power Company Inc (NYSE:AEP) by 0.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,590,218 shares of the utilities provider’s stock after selling 365 shares during the quarter. American Electric Power comprises 2.0% of Duff & Phelps Investment Management Co.’s investment portfolio, making the stock its largest holding. Duff & Phelps Investment Management Co. owned 0.32% of American Electric Power worth $139,955,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in AEP. GQG Partners LLC raised its position in American Electric Power by 16,538.4% during the 1st quarter. GQG Partners LLC now owns 979,837 shares of the utilities provider’s stock worth $81,819,000 after buying an additional 973,948 shares during the last quarter. Janus Henderson Group PLC raised its position in American Electric Power by 64.4% during the 1st quarter. Janus Henderson Group PLC now owns 1,361,156 shares of the utilities provider’s stock worth $113,997,000 after buying an additional 533,258 shares during the last quarter. California Public Employees Retirement System raised its position in American Electric Power by 18.4% during the 1st quarter. California Public Employees Retirement System now owns 3,105,375 shares of the utilities provider’s stock worth $260,075,000 after buying an additional 481,496 shares during the last quarter. Geode Capital Management LLC raised its position in American Electric Power by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 5,942,257 shares of the utilities provider’s stock worth $443,292,000 after buying an additional 438,632 shares during the last quarter. Finally, USS Investment Management Ltd purchased a new position in American Electric Power during the 1st quarter worth $31,189,000. Hedge funds and other institutional investors own 73.47% of the company’s stock.

A number of equities analysts have commented on the stock. Wells Fargo & Co upped their price objective on shares of American Electric Power from $89.00 to $93.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Bank of America restated a “buy” rating and set a $98.00 price objective (up previously from $93.00) on shares of American Electric Power in a research report on Tuesday, July 9th. SunTrust Banks upped their price objective on shares of American Electric Power from $98.00 to $99.00 and gave the stock a “buy” rating in a research report on Monday. Wolfe Research set a $89.00 price objective on shares of American Electric Power and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, KeyCorp assumed coverage on shares of American Electric Power in a research report on Tuesday, June 4th. They set a “sector weight” rating for the company. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $88.33.



In other news, EVP Paul Chodak III sold 1,303 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $86.52, for a total value of $112,735.56. Following the completion of the transaction, the executive vice president now owns 8,152 shares in the company, valued at approximately $705,311.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lisa M. Barton sold 1,752 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $89.41, for a total transaction of $156,646.32. Following the completion of the transaction, the insider now owns 34,460 shares of the company’s stock, valued at approximately $3,081,068.60. The disclosure for this sale can be found here. Insiders sold a total of 7,513 shares of company stock valued at $669,398 in the last quarter. Insiders own 0.16% of the company’s stock.

Shares of AEP traded up $0.05 during trading hours on Friday, reaching $90.41. The company had a trading volume of 371,073 shares, compared to its average volume of 2,090,802. The firm has a 50 day simple moving average of $89.58 and a 200-day simple moving average of $85.68. The company has a current ratio of 0.49, a quick ratio of 0.36 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $44.57 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 3.86 and a beta of 0.13. American Electric Power Company Inc has a 12-month low of $68.92 and a 12-month high of $91.99.

American Electric Power (NYSE:AEP) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.02. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $4.13 billion. American Electric Power had a net margin of 12.53% and a return on equity of 10.69%. The business’s revenue was down 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.01 EPS. Sell-side analysts forecast that American Electric Power Company Inc will post 4.13 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be issued a $0.67 dividend. The ex-dividend date is Thursday, August 8th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.96%. American Electric Power’s dividend payout ratio is presently 67.85%.

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.

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

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