Strategic Wealth Partners Ltd. Decreases Holdings in American Electric Power Company Inc (NYSE:AEP)

Strategic Wealth Partners Ltd. trimmed its stake in shares of American Electric Power Company Inc (NYSE:AEP) by 36.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,744 shares of the utilities provider’s stock after selling 993 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in American Electric Power were worth $153,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in American Electric Power by 8.0% during the fourth quarter. Geode Capital Management LLC now owns 5,942,257 shares of the utilities provider’s stock valued at $443,292,000 after purchasing an additional 438,632 shares in the last quarter. Pictet Asset Management Ltd. lifted its holdings in American Electric Power by 1.0% during the first quarter. Pictet Asset Management Ltd. now owns 3,109,922 shares of the utilities provider’s stock valued at $260,456,000 after purchasing an additional 29,898 shares in the last quarter. California Public Employees Retirement System lifted its holdings in American Electric Power by 18.4% during the first quarter. California Public Employees Retirement System now owns 3,105,375 shares of the utilities provider’s stock valued at $260,075,000 after purchasing an additional 481,496 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in American Electric Power by 6.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,106,930 shares of the utilities provider’s stock valued at $176,455,000 after purchasing an additional 131,313 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in American Electric Power by 2.7% during the first quarter. Swiss National Bank now owns 2,014,289 shares of the utilities provider’s stock valued at $168,697,000 after purchasing an additional 53,800 shares in the last quarter. 74.54% of the stock is currently owned by institutional investors and hedge funds.

In other American Electric Power news, insider Lisa M. Barton sold 1,752 shares of American Electric Power 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 sale, the insider now directly owns 34,460 shares in the company, valued at $3,081,068.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Brian X. Tierney sold 4,458 shares of American Electric Power stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $89.73, for a total transaction of $400,016.34. Following the sale, 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. 0.16% of the stock is owned by insiders.

Several equities analysts have recently weighed in on the stock. KeyCorp assumed coverage on shares of American Electric Power in a research note on Tuesday, June 4th. They issued a “sector weight” rating on the stock. Bank of America reissued a “buy” rating and issued a $98.00 price target (up from $93.00) on shares of American Electric Power in a research note on Tuesday, July 9th. SunTrust Banks raised their price target on shares of American Electric Power from $98.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. UBS Group raised their price target on shares of American Electric Power from $94.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Finally, Zacks Investment Research raised shares of American Electric Power from a “sell” rating to a “hold” rating and set a $96.00 price target on the stock in a research note on Thursday, July 11th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. American Electric Power presently has an average rating of “Buy” and a consensus target price of $88.33.

Shares of NYSE:AEP traded down $1.39 during midday trading on Friday, hitting $89.58. The company’s stock had a trading volume of 1,579,957 shares, compared to its average volume of 2,266,558. The business’s 50 day simple moving average is $89.88 and its 200 day simple moving average is $86.00. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.36 and a current ratio of 0.49. The company has a market cap of $44.92 billion, a P/E ratio of 22.68, a price-to-earnings-growth ratio of 3.89 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 issued its earnings results on Thursday, July 25th. The utilities provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. American Electric Power had a net margin of 12.53% and a return on equity of 10.69%. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $4.13 billion. During the same period in the previous year, the firm earned $1.01 earnings per share. American Electric Power’s quarterly revenue was down 10.0% compared to the same quarter last year. On average, sell-side analysts predict that American Electric Power Company Inc will post 4.13 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date is Thursday, August 8th. American Electric Power’s dividend payout ratio (DPR) is presently 67.85%.

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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