Zions Bancorporation Buys 6,629 Shares of American Electric Power Company Inc (NYSE:AEP)

Zions Bancorporation boosted its stake in shares of American Electric Power Company Inc (NYSE:AEP) by 403.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,273 shares of the utilities provider’s stock after purchasing an additional 6,629 shares during the quarter. Zions Bancorporation’s holdings in American Electric Power were worth $581,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Smithfield Trust Co. boosted its position in shares of American Electric Power by 8.1% during the 2nd quarter. Smithfield Trust Co. now owns 1,677 shares of the utilities provider’s stock worth $117,000 after acquiring an additional 125 shares in the last quarter. Thompson Davis & CO. Inc. boosted its position in shares of American Electric Power by 0.3% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,747 shares of the utilities provider’s stock worth $121,000 after acquiring an additional 6 shares in the last quarter. Enterprise Financial Services Corp boosted its position in shares of American Electric Power by 7.2% during the 2nd quarter. Enterprise Financial Services Corp now owns 1,798 shares of the utilities provider’s stock worth $125,000 after acquiring an additional 120 shares in the last quarter. Vantage Investment Advisors LLC boosted its position in shares of American Electric Power by 0.9% during the 2nd quarter. Vantage Investment Advisors LLC now owns 1,862 shares of the utilities provider’s stock worth $129,000 after acquiring an additional 17 shares in the last quarter. Finally, WFG Advisors LP boosted its position in shares of American Electric Power by 36.3% during the 2nd quarter. WFG Advisors LP now owns 2,039 shares of the utilities provider’s stock worth $142,000 after acquiring an additional 543 shares in the last quarter. Institutional investors own 71.04% of the company’s stock.

Shares of American Electric Power Company Inc (NYSE:AEP) traded down $1.16 during midday trading on Tuesday, hitting $72.41. The company had a trading volume of 3,016,800 shares, compared to its average volume of 2,170,000. American Electric Power Company Inc has a 1 year low of $61.82 and a 1 year high of $78.07. The company has a current ratio of 0.56, a quick ratio of 0.43 and a debt-to-equity ratio of 1.01. The firm has a market cap of $35,620.00, a PE ratio of 18.91, a PEG ratio of 4.28 and a beta of 0.30.

American Electric Power (NYSE:AEP) last posted its quarterly earnings data on Thursday, October 26th. The utilities provider reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.06). American Electric Power had a return on equity of 9.67% and a net margin of 12.21%. The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.42 billion. During the same period in the previous year, the business posted $1.30 earnings per share. The firm’s revenue was down 12.8% compared to the same quarter last year. research analysts forecast that American Electric Power Company Inc will post 3.61 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, November 10th were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.42%. This is a boost from American Electric Power’s previous quarterly dividend of $0.59. The ex-dividend date was Thursday, November 9th. American Electric Power’s dividend payout ratio (DPR) is presently 64.75%.

Several research analysts have recently issued reports on the company. Zacks Investment Research raised American Electric Power from a “sell” rating to a “hold” rating in a research report on Tuesday. Guggenheim cut American Electric Power from a “neutral” rating to a “sell” rating in a research report on Tuesday. ValuEngine cut American Electric Power from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Jefferies Group reissued a “hold” rating and issued a $73.00 target price on shares of American Electric Power in a research report on Tuesday, October 3rd. Finally, Bank of America initiated coverage on American Electric Power in a research report on Tuesday, October 24th. They issued a “buy” rating and a $79.00 target price for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. American Electric Power presently has a consensus rating of “Hold” and an average price target of $74.82.

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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 service areas of the Company’s public utility subsidiaries cover the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.

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

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