Trade Report: Today, Gulf International Bank UK Ltd Continues to Hold Stake in American Electric Power Co. (AEP)

Today, Gulf International Bank UK Ltd Continues to Hold Stake in American Electric Power Co. (AEP)

Gulf International Bank UK Ltd maintained its position in shares of American Electric Power Co. (NYSE:AEP) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 149,704 shares of the company’s stock at the end of the third quarter. Gulf International Bank UK Ltd’s holdings in American Electric Power were worth $9,612,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of AEP. Chicago Partners Investment Group LLC boosted its position in shares of American Electric Power by 0.3% in the second quarter. Chicago Partners Investment Group LLC now owns 1,583 shares of the company’s stock worth $111,000 after buying an additional 4 shares in the last quarter. Jackson Grant Investment Advisers Inc. boosted its position in shares of American Electric Power by 0.8% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,447 shares of the company’s stock worth $101,000 after buying an additional 12 shares in the last quarter. Wetherby Asset Management Inc. boosted its position in shares of American Electric Power by 0.3% in the second quarter. Wetherby Asset Management Inc. now owns 4,812 shares of the company’s stock worth $338,000 after buying an additional 16 shares in the last quarter. Torch Wealth Management LLC boosted its position in shares of American Electric Power by 0.7% in the second quarter. Torch Wealth Management LLC now owns 3,171 shares of the company’s stock worth $222,000 after buying an additional 21 shares in the last quarter. Finally, Hyman Charles D boosted its position in shares of American Electric Power by 0.3% in the second quarter. Hyman Charles D now owns 8,520 shares of the company’s stock worth $597,000 after buying an additional 25 shares in the last quarter. 67.52% of the stock is currently owned by hedge funds and other institutional investors.

Shares of American Electric Power Co. (NYSE:AEP) traded up 1.98% during midday trading on Monday, reaching $60.90. The company had a trading volume of 2,699,356 shares. The stock has a 50-day moving average of $61.68 and a 200 day moving average of $65.35. American Electric Power Co. has a 52 week low of $54.08 and a 52 week high of $71.32. The firm has a market capitalization of $29.95 billion, a price-to-earnings ratio of 42.41 and a beta of 0.23.

American Electric Power (NYSE:AEP) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $1.30 EPS for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.08. The business had revenue of $4.70 billion for the quarter, compared to analysts’ expectations of $4.68 billion. American Electric Power had a return on equity of 10.25% and a net margin of 4.37%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the firm earned $1.06 earnings per share. On average, analysts anticipate that American Electric Power Co. will post $3.79 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Thursday, November 10th will be issued a dividend of $0.59 per share. The ex-dividend date is Tuesday, November 8th. This is a boost from American Electric Power’s previous quarterly dividend of $0.56. This represents a $2.36 dividend on an annualized basis and a yield of 3.95%. American Electric Power’s dividend payout ratio (DPR) is currently 163.89%.

A number of analysts recently issued reports on the company. Evercore ISI lowered American Electric Power from a “buy” rating to a “hold” rating in a research note on Wednesday, November 2nd. SunTrust Banks Inc. boosted their price objective on American Electric Power from $74.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, September 26th. Zacks Investment Research lowered American Electric Power from a “buy” rating to a “hold” rating in a research note on Wednesday, September 14th. RBC Capital Markets reiterated a “hold” rating and set a $67.00 price objective (down from $72.00) on shares of American Electric Power in a research note on Thursday, October 13th. Finally, Jefferies Group reiterated a “hold” rating and set a $62.00 price objective (down from $66.50) on shares of American Electric Power in a research note on Monday, November 14th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $68.50.

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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