Abner Herrman & Brock LLC Reduces Position in American Electric Power Company Inc (NYSE:AEP)

Abner Herrman & Brock LLC trimmed its holdings in shares of American Electric Power Company Inc (NYSE:AEP) by 3.9% during the third quarter, Holdings Channel reports. The fund owned 4,459 shares of the utilities provider’s stock after selling 180 shares during the quarter. Abner Herrman & Brock LLC’s holdings in American Electric Power were worth $418,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of American Electric Power by 0.9% during the second quarter. Vanguard Group Inc. now owns 40,311,023 shares of the utilities provider’s stock worth $3,547,774,000 after acquiring an additional 348,013 shares during the last quarter. Northern Trust Corp increased its position in shares of American Electric Power by 2.6% during the second quarter. Northern Trust Corp now owns 6,017,283 shares of the utilities provider’s stock worth $529,580,000 after acquiring an additional 154,257 shares during the last quarter. AQR Capital Management LLC increased its position in shares of American Electric Power by 31.9% during the second quarter. AQR Capital Management LLC now owns 3,835,199 shares of the utilities provider’s stock worth $337,536,000 after acquiring an additional 926,783 shares during the last quarter. California Public Employees Retirement System increased its position in shares of American Electric Power by 18.9% during the second quarter. California Public Employees Retirement System now owns 3,691,176 shares of the utilities provider’s stock worth $324,860,000 after acquiring an additional 585,801 shares during the last quarter. Finally, Pictet Asset Management Ltd. increased its position in shares of American Electric Power by 7.5% during the second quarter. Pictet Asset Management Ltd. now owns 3,342,065 shares of the utilities provider’s stock worth $294,135,000 after acquiring an additional 232,143 shares during the last quarter. 73.76% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power stock traded up $0.11 during midday trading on Friday, hitting $92.72. The stock had a trading volume of 75,030 shares, compared to its average volume of 2,438,040. 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 stock has a market cap of $45.71 billion, a P/E ratio of 23.48, a P/E/G ratio of 3.96 and a beta of 0.09. American Electric Power Company Inc has a 12 month low of $70.31 and a 12 month high of $94.89. The business has a fifty day moving average price of $92.21 and a 200 day moving average price of $88.59.



American Electric Power (NYSE:AEP) last announced its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.02. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $4.13 billion. American Electric Power had a return on equity of 10.69% and a net margin of 12.53%. American Electric Power’s quarterly revenue was down 10.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.01 earnings per share. On average, equities analysts anticipate that American Electric Power Company Inc will post 4.13 EPS for the current fiscal year.

In other American Electric Power news, insider Charles E. Zebula sold 1,216 shares of American Electric Power stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $90.98, for a total value of $110,631.68. Following the completion of the transaction, the insider now directly owns 7,420 shares in the company, valued at $675,071.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Brian X. Tierney sold 4,458 shares of American Electric Power stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $89.73, for a total value of $400,016.34. Following the completion of the transaction, the vice president now owns 39,745 shares of the company’s stock, valued at $3,566,318.85. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

AEP has been the topic of a number of analyst reports. SunTrust Banks lifted their target price on American Electric Power from $98.00 to $99.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Bank of America reissued a “buy” rating and issued a $98.00 price objective (up from $93.00) on shares of American Electric Power in a report on Tuesday, July 9th. Zacks Investment Research raised American Electric Power from a “sell” rating to a “hold” rating and set a $96.00 price objective for the company in a report on Thursday, July 11th. ValuEngine lowered American Electric Power from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Mizuho boosted their price objective on American Electric Power from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $92.45.

American Electric Power 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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