Elkfork Partners LLC Cuts Stake in American Electric Power Company Inc (AEP)

Elkfork Partners LLC cut its stake in shares of American Electric Power Company Inc (NYSE:AEP) by 7.4% during the first quarter, Holdings Channel reports. The institutional investor owned 131,992 shares of the utilities provider’s stock after selling 10,472 shares during the period. Elkfork Partners LLC’s holdings in American Electric Power Company were worth $8,860,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Cranbrook Wealth Management LLC acquired a new stake in American Electric Power Company during the third quarter valued at $110,000. Sowell Financial Services LLC acquired a new stake in American Electric Power Company during the fourth quarter valued at $113,000. First Interstate Bank raised its stake in American Electric Power Company by 17.2% in the fourth quarter. First Interstate Bank now owns 2,055 shares of the utilities provider’s stock valued at $129,000 after buying an additional 302 shares during the last quarter. Pacific Center for Financial Services acquired a new stake in American Electric Power Company during the fourth quarter valued at $137,000. Finally, Parallel Advisors LLC acquired a new stake in American Electric Power Company during the fourth quarter valued at $153,000. 68.13% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of American Electric Power Company Inc (NYSE:AEP) traded up 0.577% during midday trading on Thursday, reaching $70.605. 692,324 shares of the company’s stock were exchanged. The company has a market capitalization of $34.72 billion, a PE ratio of 49.513 and a beta of 0.23. American Electric Power Company Inc has a 1-year low of $57.89 and a 1-year high of $71.32. The firm has a 50-day moving average of $68.00 and a 200-day moving average of $64.57.

American Electric Power Company (NYSE:AEP) last announced its quarterly earnings data on Thursday, April 27th. The utilities provider reported $0.96 EPS for the quarter, missing the Zacks’ consensus estimate of $0.97 by $0.01. The firm had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.85 billion. American Electric Power Company had a return on equity of 10.87% and a net margin of 3.74%. American Electric Power Company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.02 earnings per share. Equities analysts expect that American Electric Power Company Inc will post $3.66 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Investors of record on Wednesday, May 10th will be given a $0.59 dividend. The ex-dividend date is Monday, May 8th. This represents a $2.36 dividend on an annualized basis and a yield of 3.36%. American Electric Power Company’s payout ratio is 190.32%.

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AEP has been the subject of several recent research reports. Jefferies Group LLC upped their price target on shares of American Electric Power Company from $65.00 to $68.00 and gave the stock a “hold” rating in a research report on Tuesday, March 14th. Deutsche Bank AG upped their price target on shares of American Electric Power Company from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Tuesday, April 11th. Mizuho restated a “buy” rating and set a $72.50 price target on shares of American Electric Power Company in a research report on Wednesday, April 19th. Barclays PLC restated an “overweight” rating and set a $76.00 price target (up previously from $71.00) on shares of American Electric Power Company in a research report on Sunday, April 23rd. Finally, Zacks Investment Research lowered shares of American Electric Power Company from a “hold” rating to a “sell” rating in a research report on Friday, April 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. American Electric Power Company currently has a consensus rating of “Hold” and a consensus target price of $71.60.

In related news, insider Paul Chodak III sold 1,110 shares of American Electric Power Company stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $68.20, for a total value of $75,702.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.13% of the stock is owned by company insiders.

About American Electric Power Company

American Electric Power Company, Inc (AEP) is a public utility holding company that owns, directly or indirectly, all of the outstanding common stock of its public utility subsidiaries and varying percentages of other subsidiaries. The service areas of the Company’s public utility subsidiaries cover the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.

12 Month Chart for NYSE:AEP

Want to see what other hedge funds are holding AEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Electric Power Company Inc (NYSE:AEP).

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