Trading Report: Today: Prudential Financial Inc. Buys 686,006 Shares of American Electric Power Co. (AEP)

Today: Prudential Financial Inc. Buys 686,006 Shares of American Electric Power Co. (AEP)

Prudential Financial Inc. boosted its stake in shares of American Electric Power Co. (NYSE:AEP) by 34.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,661,578 shares of the company’s stock after buying an additional 686,006 shares during the period. Prudential Financial Inc. owned about 0.54% of American Electric Power worth $170,899,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. BlackRock Fund Advisors boosted its position in shares of American Electric Power by 7.6% in the second quarter. BlackRock Fund Advisors now owns 10,520,383 shares of the company’s stock valued at $737,374,000 after buying an additional 740,983 shares in the last quarter. FMR LLC boosted its position in shares of American Electric Power by 72.8% in the second quarter. FMR LLC now owns 9,114,402 shares of the company’s stock valued at $638,828,000 after buying an additional 3,840,681 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of American Electric Power by 3.9% in the second quarter. Alliancebernstein L.P. now owns 6,149,393 shares of the company’s stock valued at $431,011,000 after buying an additional 233,632 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of American Electric Power by 10.7% in the second quarter. AQR Capital Management LLC now owns 5,843,015 shares of the company’s stock valued at $409,537,000 after buying an additional 562,775 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in shares of American Electric Power by 5.1% in the second quarter. Royal Bank of Canada now owns 5,757,107 shares of the company’s stock valued at $403,515,000 after buying an additional 277,429 shares in the last quarter. 67.52% of the stock is owned by institutional investors.

Shares of American Electric Power Co. (NYSE:AEP) opened at 60.19 on Monday. The company has a market capitalization of $29.60 billion, a price-to-earnings ratio of 41.92 and a beta of 0.23. The company’s 50-day moving average is $61.68 and its 200-day moving average is $65.35. American Electric Power Co. has a 12-month low of $54.08 and a 12-month high of $71.32.

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

The business also recently disclosed 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. This is a positive change 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%. The ex-dividend date of this dividend is Tuesday, November 8th. American Electric Power’s dividend payout ratio (DPR) is 163.89%.

AEP has been the subject of several recent analyst reports. KeyCorp set a $72.50 price objective on shares of American Electric Power and gave the company a “buy” rating in a research note on Monday, September 12th. Zacks Investment Research raised shares of American Electric Power from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Tuesday, September 13th. Jefferies Group reissued a “hold” rating and issued a $67.00 price target on shares of American Electric Power in a research note on Tuesday, October 25th. Citigroup Inc. boosted their price target on shares of American Electric Power from $68.00 to $69.00 and gave the stock a “neutral” rating in a research note on Thursday, September 8th. Finally, Royal Bank Of Canada cut their price target on shares of American Electric Power from $72.00 to $67.00 and set a “sector perform” rating for the company in a research note on Thursday, October 13th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $68.50.

American Electric Power Company Profile

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