American Electric Power Company Inc (NYSE:AEP) Shares Sold by 6 Meridian

6 Meridian trimmed its holdings in American Electric Power Company Inc (NYSE:AEP) by 4.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,083 shares of the utilities provider’s stock after selling 274 shares during the period. 6 Meridian’s holdings in American Electric Power were worth $570,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AEP. Vanguard Group Inc. raised its position in shares of American Electric Power by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 40,311,023 shares of the utilities provider’s stock valued at $3,547,774,000 after acquiring an additional 348,013 shares in the last quarter. Northern Trust Corp raised its position in shares of American Electric Power by 2.6% during the 2nd quarter. Northern Trust Corp now owns 6,017,283 shares of the utilities provider’s stock valued at $529,580,000 after acquiring an additional 154,257 shares in the last quarter. AQR Capital Management LLC raised its position in shares of American Electric Power by 31.9% during the 2nd quarter. AQR Capital Management LLC now owns 3,835,199 shares of the utilities provider’s stock valued at $337,536,000 after acquiring an additional 926,783 shares in the last quarter. California Public Employees Retirement System raised its position in shares of American Electric Power by 18.9% during the 2nd quarter. California Public Employees Retirement System now owns 3,691,176 shares of the utilities provider’s stock valued at $324,860,000 after acquiring an additional 585,801 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its position in shares of American Electric Power by 7.5% during the 2nd quarter. Pictet Asset Management Ltd. now owns 3,342,065 shares of the utilities provider’s stock valued at $294,135,000 after acquiring an additional 232,143 shares in the last quarter. 73.78% of the stock is currently owned by institutional investors.

In other American Electric Power news, insider Charles E. Zebula sold 1,216 shares of the stock in a transaction 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 sale, the insider now directly owns 7,420 shares of the company’s stock, valued at $675,071.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Brian X. Tierney sold 4,458 shares of the stock in a transaction on Monday, July 29th. The stock was 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 directly owns 39,745 shares of the company’s stock, valued at approximately $3,566,318.85. The disclosure for this sale can be found here. 0.16% of the stock is owned by company insiders.

Several research firms recently issued reports on AEP. JPMorgan Chase & Co. upped their price target on American Electric Power from $92.00 to $104.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. SunTrust Banks upped their price target on American Electric Power from $98.00 to $99.00 and gave the company a “buy” rating in a research report on Monday, August 12th. ValuEngine lowered American Electric Power from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Mizuho upped their price target on American Electric Power from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Finally, Bank of America reaffirmed a “buy” rating and issued a $98.00 target price (up from $93.00) on shares of American Electric Power in a research report on Tuesday, July 9th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $93.91.

Shares of NYSE AEP opened at $95.72 on Friday. American Electric Power Company Inc has a 1-year low of $72.07 and a 1-year high of $96.22. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.49 and a quick ratio of 0.36. The business’s fifty day moving average price is $92.95 and its two-hundred day moving average price is $89.24. The firm has a market capitalization of $46.49 billion, a PE ratio of 24.23, a P/E/G ratio of 4.00 and a beta of 0.09.

American Electric Power (NYSE:AEP) last issued its earnings results on Thursday, October 24th. The utilities provider reported $1.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.26. American Electric Power had a return on equity of 10.69% and a net margin of 12.53%. During the same period last year, the firm earned $1.26 EPS. Equities research analysts expect that American Electric Power Company Inc will post 4.17 earnings per share for the current fiscal 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 given a $0.70 dividend. The ex-dividend date is Thursday, November 7th. This is a positive change from American Electric Power’s previous quarterly dividend of $0.67. This represents a $2.80 annualized dividend and a yield of 2.93%. American Electric Power’s dividend payout ratio (DPR) is currently 67.85%.

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.

Further Reading: What does an outperform rating mean?

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

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