Nachman Norwood & Parrott Inc Has $243,000 Position in American Electric Power Company Inc (AEP)

Nachman Norwood & Parrott Inc lowered its holdings in American Electric Power Company Inc (NYSE:AEP) by 10.1% during the first quarter, HoldingsChannel.com reports. The fund owned 2,902 shares of the utilities provider’s stock after selling 327 shares during the period. Nachman Norwood & Parrott Inc’s holdings in American Electric Power were worth $243,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. NuWave Investment Management LLC increased its stake in American Electric Power by 138.8% in the first quarter. NuWave Investment Management LLC now owns 9,732 shares of the utilities provider’s stock valued at $815,000 after acquiring an additional 5,656 shares during the period. Chartwell Investment Partners LLC increased its stake in American Electric Power by 4.6% in the first quarter. Chartwell Investment Partners LLC now owns 92,067 shares of the utilities provider’s stock valued at $7,711,000 after acquiring an additional 4,009 shares during the period. DNB Asset Management AS increased its stake in American Electric Power by 401.5% in the first quarter. DNB Asset Management AS now owns 98,800 shares of the utilities provider’s stock valued at $8,274,000 after acquiring an additional 79,100 shares during the period. Pacer Advisors Inc. bought a new stake in American Electric Power in the first quarter valued at about $4,580,000. Finally, 6 Meridian bought a new stake in American Electric Power in the first quarter valued at about $523,000. 73.43% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power stock traded up $0.59 during trading hours on Thursday, hitting $83.94. 2,692,769 shares of the stock were exchanged, compared to its average volume of 2,812,101. The company has a current ratio of 0.48, a quick ratio of 0.37 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $41.11 billion, a price-to-earnings ratio of 21.25, a P/E/G ratio of 3.54 and a beta of 0.17. American Electric Power Company Inc has a 12 month low of $62.71 and a 12 month high of $86.10.

American Electric Power (NYSE:AEP) last released its quarterly earnings results on Thursday, January 24th. The utilities provider reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.01. American Electric Power had a net margin of 11.91% and a return on equity of 10.32%. The business had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.97 billion. During the same period in the prior year, the firm earned $0.85 earnings per share. American Electric Power’s revenue was up .0% compared to the same quarter last year. As a group, equities research analysts predict that American Electric Power Company Inc will post 4.12 EPS for the current year.

Several brokerages have weighed in on AEP. Zacks Investment Research raised shares of American Electric Power from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a research note on Monday, March 18th. Goldman Sachs Group cut shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a research note on Monday. JPMorgan Chase & Co. raised shares of American Electric Power from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $78.00 to $88.00 in a research note on Tuesday, March 12th. Mizuho cut shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $72.00 price objective on the stock. in a research note on Thursday, January 3rd. They noted that the move was a valuation call. Finally, Morgan Stanley upped their price objective on shares of American Electric Power from $81.00 to $84.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 12th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. American Electric Power has an average rating of “Buy” and an average target price of $79.07.

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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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