Schulhoff & Co. Inc. Buys Shares of 2,435 American Electric Power Company Inc (AEP)

Schulhoff & Co. Inc. bought a new stake in American Electric Power Company Inc (NYSE:AEP) during the first quarter, HoldingsChannel reports. The fund bought 2,435 shares of the utilities provider’s stock, valued at approximately $203,000.

Several other hedge funds have also recently modified their holdings of the company. Mastrapasqua Asset Management Inc. raised its holdings in American Electric Power by 1.5% in the 4th quarter. Mastrapasqua Asset Management Inc. now owns 9,325 shares of the utilities provider’s stock valued at $697,000 after acquiring an additional 135 shares during the period. First Citizens Bank & Trust Co. raised its holdings in American Electric Power by 1.5% in the 1st quarter. First Citizens Bank & Trust Co. now owns 9,484 shares of the utilities provider’s stock valued at $794,000 after acquiring an additional 140 shares during the period. Cigna Investments Inc. New raised its holdings in American Electric Power by 1.0% in the 4th quarter. Cigna Investments Inc. New now owns 14,537 shares of the utilities provider’s stock valued at $1,086,000 after acquiring an additional 141 shares during the period. First American Bank raised its holdings in American Electric Power by 0.4% in the 1st quarter. First American Bank now owns 40,754 shares of the utilities provider’s stock valued at $3,413,000 after acquiring an additional 149 shares during the period. Finally, Clifford Swan Investment Counsel LLC raised its holdings in American Electric Power by 3.9% in the 4th quarter. Clifford Swan Investment Counsel LLC now owns 4,202 shares of the utilities provider’s stock valued at $314,000 after acquiring an additional 156 shares during the period. 73.51% of the stock is currently owned by institutional investors.

Shares of NYSE:AEP traded up $0.23 on Wednesday, reaching $83.80. 93,362 shares of the company’s stock were exchanged, compared to its average volume of 2,771,267. American Electric Power Company Inc has a twelve month low of $62.71 and a twelve month high of $86.10. The firm has a market cap of $40.94 billion, a PE ratio of 21.28, a PEG ratio of 3.56 and a beta of 0.17. The company has a quick ratio of 0.37, a current ratio of 0.48 and a debt-to-equity ratio of 1.14.

American Electric Power (NYSE:AEP) last announced its earnings results on Thursday, January 24th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.01. American Electric Power had a net margin of 11.91% and a return on equity of 10.32%. The firm had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same quarter in the prior year, the business posted $0.85 EPS. The business’s revenue was up .0% compared to the same quarter last year. On average, research analysts expect that American Electric Power Company Inc will post 4.12 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 3.20%. American Electric Power’s dividend payout ratio is 67.85%.

Several research analysts have weighed in on the stock. Zacks Investment Research raised shares of American Electric Power from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a report on Monday, March 18th. Morgan Stanley lowered shares of American Electric Power from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $86.00 to $83.20 in a research report on Thursday, April 18th. Goldman Sachs Group lowered shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $78.00 target price on the stock. in a research report on Monday, April 8th. JPMorgan Chase & Co. upgraded shares of American Electric Power from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $78.00 to $88.00 in a research report on Tuesday, March 12th. Finally, Mizuho lowered shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $72.00 target price on the stock. in a research report on Thursday, January 3rd. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. American Electric Power has a consensus rating of “Buy” and a consensus price target of $79.01.

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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.

Further Reading: Net Asset Value

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

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