The FTB Advisors Inc. Reduces Stake in American Electric Power Co. (AEP)

The FTB Advisors Inc. Reduces Stake in American Electric Power Co. (AEP)

FTB Advisors Inc. lowered its stake in shares of American Electric Power Co. (NYSE:AEP) by 52.0% during the second quarter, Holdings Channel reports. The fund owned 5,877 shares of the company’s stock after selling 6,369 shares during the period. FTB Advisors Inc.’s holdings in American Electric Power were worth $412,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Zions Bancorporation raised its stake in American Electric Power by 7.7% in the first quarter. Zions Bancorporation now owns 1,747 shares of the company’s stock valued at $115,000 after buying an additional 125 shares during the last quarter. Tompkins Financial Corp bought a new stake in American Electric Power during the second quarter valued at $120,000. Quadrant Capital Group LLC raised its stake in American Electric Power by 1.1% in the second quarter. Quadrant Capital Group LLC now owns 2,841 shares of the company’s stock valued at $191,000 after buying an additional 30 shares during the last quarter. Headinvest LLC bought a new stake in American Electric Power during the second quarter valued at $202,000. Finally, CrestPoint Capital Management LLC bought a new stake in American Electric Power during the second quarter valued at $217,000. Institutional investors own 68.71% of the company’s stock.

Shares of American Electric Power Co. (NYSE:AEP) traded down 0.440% during midday trading on Friday, reaching $62.255. The company had a trading volume of 1,837,473 shares. American Electric Power Co. has a 52 week low of $53.30 and a 52 week high of $71.32. The company’s 50 day moving average price is $64.40 and its 200-day moving average price is $66.07. The company has a market capitalization of $30.61 billion, a P/E ratio of 15.364 and a beta of 0.23.

American Electric Power (NYSE:AEP) last posted its earnings results on Thursday, July 28th. The company reported $0.95 EPS for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.05. American Electric Power had a return on equity of 9.54% and a net margin of 12.50%. The company had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the business earned $0.88 earnings per share. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities research analysts predict that American Electric Power Co. will post $3.69 earnings per share for the current fiscal year.

AEP has been the topic of several recent research reports. Jefferies Group increased their price target on American Electric Power from $70.00 to $75.00 and gave the company a “buy” rating in a report on Friday, June 17th. Goldman Sachs Group Inc. upgraded American Electric Power from a “neutral” rating to a “buy” rating and increased their price target for the company from $71.00 to $73.00 in a report on Tuesday, July 26th. KeyCorp set a $72.50 price target on American Electric Power and gave the company a “buy” rating in a report on Monday, September 12th. Zacks Investment Research upgraded American Electric Power from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research note on Tuesday, September 13th. Finally, SunTrust Banks Inc. increased their target price on American Electric Power from $74.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, September 26th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. American Electric Power has a consensus rating of “Buy” and an average price target of $68.17.

About American Electric Power

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 Company’s segments include Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing.

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