Mutual of Omaha Bank Wealth Management reduced its position in shares of American Electric Power Company Inc (NYSE:AEP) by 32.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,045 shares of the utilities provider’s stock after selling 2,855 shares during the period. Mutual of Omaha Bank Wealth Management’s holdings in American Electric Power were worth $452,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Morgan Stanley increased its stake in American Electric Power by 24.0% during the 3rd 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. Hanson McClain Inc. increased its stake in American Electric Power by 18.7% during the 3rd quarter. Hanson McClain Inc. now owns 5,004 shares of the utilities provider’s stock worth $355,000 after buying an additional 787 shares in the last quarter. First Hawaiian Bank purchased a new stake in American Electric Power during the 3rd quarter worth approximately $289,000. Calamos Advisors LLC increased its stake in American Electric Power by 6.7% during the 3rd quarter. Calamos Advisors LLC now owns 125,356 shares of the utilities provider’s stock worth $8,885,000 after buying an additional 7,889 shares in the last quarter. Finally, Jefferies Group LLC purchased a new stake in American Electric Power during the 3rd quarter worth approximately $3,381,000. Institutional investors own 72.71% of the company’s stock.
In related news, insider Lisa M. Barton sold 881 shares of the company’s stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $77.55, for a total value of $68,321.55. Following the transaction, the insider now directly owns 581 shares in the company, valued at $45,056.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Chodak III sold 847 shares of the company’s stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $76.47, for a total value of $64,770.09. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.
AEP has been the subject of several research reports. Zacks Investment Research upgraded American Electric Power from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research note on Monday, October 15th. ValuEngine upgraded American Electric Power from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Bank of America boosted their target price on American Electric Power from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, October 26th. Barclays boosted their target price on American Electric Power from $81.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, November 19th. Finally, Mizuho cut American Electric Power from a “buy” rating to a “neutral” rating and set a $72.00 target price on the stock. in a report on Thursday, January 3rd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $77.21.
Shares of American Electric Power stock opened at $80.02 on Friday. The company has a market cap of $39.46 billion, a PE ratio of 20.26, a P/E/G ratio of 3.37 and a beta of 0.17. American Electric Power Company Inc has a 1-year low of $62.71 and a 1-year high of $81.05. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.46 and a current ratio of 0.48.
American Electric Power (NYSE:AEP) last issued its earnings results on Thursday, January 24th. The utilities provider reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.01. American Electric Power had a return on equity of 10.33% and a net margin of 11.91%. The business had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.97 billion. During the same period in the previous year, the firm posted $0.85 EPS. The business’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, analysts expect that American Electric Power Company Inc will post 4.12 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 8th. Investors of record on Friday, February 8th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Thursday, February 7th. 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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