Everence Capital Management Inc. Purchases 8,040 Shares of American Electric Power Company Inc (AEP)

Everence Capital Management Inc. grew its position in shares of American Electric Power Company Inc (NYSE:AEP) by 52.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,310 shares of the utilities provider’s stock after acquiring an additional 8,040 shares during the quarter. Everence Capital Management Inc.’s holdings in American Electric Power were worth $1,952,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Morgan Stanley grew its holdings in American Electric Power by 24.0% during the third quarter. Morgan Stanley now owns 3,695,743 shares of the utilities provider’s stock worth $261,954,000 after buying an additional 714,473 shares in the last quarter. QUANTRES ASSET MANAGEMENT Ltd grew its holdings in American Electric Power by 186.2% during the first quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 8,300 shares of the utilities provider’s stock worth $695,000 after buying an additional 5,400 shares in the last quarter. Commonwealth Bank of Australia grew its holdings in American Electric Power by 124.6% during the fourth quarter. Commonwealth Bank of Australia now owns 3,681,416 shares of the utilities provider’s stock worth $275,134,000 after buying an additional 2,042,518 shares in the last quarter. Orrstown Financial Services Inc. grew its holdings in American Electric Power by 1,778.1% during the first quarter. Orrstown Financial Services Inc. now owns 6,949 shares of the utilities provider’s stock worth $582,000 after buying an additional 6,579 shares in the last quarter. Finally, First Midwest Bank Trust Division grew its holdings in American Electric Power by 0.8% during the fourth quarter. First Midwest Bank Trust Division now owns 21,327 shares of the utilities provider’s stock worth $1,594,000 after buying an additional 176 shares in the last quarter. Hedge funds and other institutional investors own 73.53% of the company’s stock.

AEP stock opened at $86.34 on Tuesday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.37 and a current ratio of 0.49. American Electric Power Company Inc has a 1-year low of $62.71 and a 1-year high of $86.54. The firm has a market capitalization of $41.76 billion, a price-to-earnings ratio of 21.86, a price-to-earnings-growth ratio of 3.55 and a beta of 0.17.

American Electric Power (NYSE:AEP) last posted its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.09. American Electric Power had a return on equity of 10.81% and a net margin of 12.64%. The business had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.23 billion. During the same quarter in the previous year, the firm earned $0.96 earnings per share. The business’s revenue was up 2.5% on a year-over-year basis. As a group, research analysts predict that American Electric Power Company Inc will post 4.13 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be given a $0.67 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.68 annualized dividend and a yield of 3.10%. American Electric Power’s dividend payout ratio is currently 67.85%.

In other American Electric Power news, CEO Nicholas K. Akins sold 11,152 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $84.94, for a total value of $947,250.88. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is currently owned by insiders.

Several brokerages recently issued reports on AEP. Wolfe Research set a $89.00 price target on American Electric Power and gave the stock a “buy” rating in a report on Friday, April 26th. Wells Fargo & Co upped their price target on American Electric Power from $89.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Goldman Sachs Group downgraded American Electric Power from a “buy” rating to a “neutral” rating and set a $78.00 price target for the company. in a report on Monday, April 8th. Zacks Investment Research upgraded American Electric Power from a “hold” rating to a “buy” rating and set a $94.00 price target for the company in a report on Monday, March 18th. Finally, Morgan Stanley downgraded American Electric Power from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $86.00 to $83.20 in a report on Thursday, April 18th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $81.33.

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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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