Greenleaf Trust Reduces Holdings in American Electric Power Company Inc (AEP)

Greenleaf Trust reduced its position in American Electric Power Company Inc (NYSE:AEP) by 6.7% in the 1st quarter, HoldingsChannel reports. The fund owned 13,455 shares of the utilities provider’s stock after selling 966 shares during the quarter. Greenleaf Trust’s holdings in American Electric Power were worth $1,127,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc lifted its stake in American Electric Power by 1.6% during the third quarter. Vanguard Group Inc now owns 37,558,524 shares of the utilities provider’s stock worth $2,662,148,000 after purchasing an additional 584,608 shares during the last quarter. BlackRock Inc. lifted its stake in American Electric Power by 3.9% in the fourth quarter. BlackRock Inc. now owns 36,683,081 shares of the utilities provider’s stock valued at $2,741,691,000 after buying an additional 1,381,916 shares during the last quarter. Northern Trust Corp lifted its stake in American Electric Power by 4.2% in the fourth quarter. Northern Trust Corp now owns 5,951,102 shares of the utilities provider’s stock valued at $444,784,000 after buying an additional 241,872 shares during the last quarter. Geode Capital Management LLC lifted its stake in American Electric Power by 8.0% in 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 buying an additional 438,632 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in American Electric Power by 1.4% in the fourth quarter. Jennison Associates LLC now owns 4,597,759 shares of the utilities provider’s stock valued at $343,637,000 after buying an additional 63,019 shares during the last quarter. 73.99% of the stock is owned by institutional investors.

In related news, CEO Nicholas K. Akins sold 11,152 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $84.94, for a total transaction of $947,250.88. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Mark C. Mccullough sold 1,503 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $85.81, for a total value of $128,972.43. Following the transaction, the insider now directly owns 8,296 shares in the company, valued at approximately $711,879.76. The disclosure for this sale can be found here. Insiders have sold 21,582 shares of company stock valued at $1,842,763 in the last 90 days. Company insiders own 0.16% of the company’s stock.

AEP has been the subject of a number of research reports. Zacks Investment Research cut American Electric Power from a “hold” rating to a “sell” rating in a research note on Wednesday, January 23rd. JPMorgan Chase & Co. set a $78.00 price objective on American Electric Power and gave the company a “hold” rating in a research note on Friday, January 25th. Morgan Stanley boosted their price objective on American Electric Power from $81.00 to $84.00 and gave the company an “overweight” rating in a research note on Tuesday, February 12th. Goldman Sachs Group cut American Electric Power from a “buy” rating to a “neutral” rating and set a $78.00 price objective for the company. in a research note on Monday, April 8th. Finally, Wells Fargo & Co boosted their price objective on American Electric Power from $89.00 to $93.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. American Electric Power has an average rating of “Buy” and a consensus price target of $81.63.

American Electric Power stock opened at $86.61 on Wednesday. American Electric Power Company Inc has a 12 month low of $62.71 and a 12 month high of $87.14. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.49 and a quick ratio of 0.37. The company has a market cap of $42.72 billion, a PE ratio of 21.93, a P/E/G ratio of 3.68 and a beta of 0.17.

American Electric Power (NYSE:AEP) last released its quarterly earnings results on Thursday, April 25th. The utilities provider reported $1.19 EPS 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 during the quarter, compared to analysts’ expectations of $4.23 billion. During the same quarter in the prior year, the business earned $0.96 earnings per share. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that American Electric Power Company Inc will post 4.12 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Thursday, May 9th. American Electric Power’s dividend payout ratio (DPR) is presently 67.85%.

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

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