Verition Fund Management LLC Has Cut Its American Elec Pwr INC (AEP) Stake as Stock Value Rose

December 7, 2017 - By Richard Conner

Investors sentiment increased to 1.09 in Q2 2017. Its up 0.10, from 0.99 in 2017Q1. It is positive, as 37 investors sold AEP shares while 255 reduced holdings. 72 funds opened positions while 245 raised stakes. 348.55 million shares or 2.95% more from 338.55 million shares in 2017Q1 were reported. 12,063 are held by Cleararc Inc. Caisse De Depot Et Placement Du Quebec has invested 0.04% in American Electric Power Company, Inc. (NYSE:AEP). Zurcher Kantonalbank (Zurich Cantonalbank) owns 100,965 shares. Connecticut-based Webster Financial Bank N A has invested 0.08% in American Electric Power Company, Inc. (NYSE:AEP). Regal Investment Advisors Ltd Liability Corp owns 29,681 shares for 0.51% of their portfolio. Amalgamated Bancorp owns 55,512 shares for 0.13% of their portfolio. Willingdon Wealth Management stated it has 0.52% of its portfolio in American Electric Power Company, Inc. (NYSE:AEP). Oregon Public Employees Retirement Fund has invested 0.06% of its portfolio in American Electric Power Company, Inc. (NYSE:AEP). Edgemoor Advisors holds 1.23% of its portfolio in American Electric Power Company, Inc. (NYSE:AEP) for 129,703 shares. Kentucky Retirement Sys Fund reported 0.17% in American Electric Power Company, Inc. (NYSE:AEP). Fort Washington Oh holds 0.01% or 9,600 shares. Atria Invests Ltd invested in 0.02% or 4,449 shares. Klingenstein Fields Commerce Llc accumulated 3,965 shares or 0.01% of the stock. Hbk Sorce Advisory Limited Liability Corporation reported 10,138 shares. Nomura Holdings holds 0.01% or 65,813 shares in its portfolio.

Verition Fund Management Llc decreased its stake in American Elec Pwr Inc (AEP) by 58.13% based on its latest 2017Q2 regulatory filing with the SEC. Verition Fund Management Llc sold 162,656 shares as the company’s stock rose 7.19% with the market. The hedge fund held 117,174 shares of the public utilities company at the end of 2017Q2, valued at $8.14 million, down from 279,830 at the end of the previous reported quarter. Verition Fund Management Llc who had been investing in American Elec Pwr Inc for a number of months, seems to be less bullish one the $37.46B market cap company. The stock decreased 0.74% or $0.57 during the last trading session, reaching $76.16. About 931,775 shares traded. American Electric Power Company, Inc. (NYSE:AEP) has risen 7.63% since December 7, 2016 and is uptrending. It has underperformed by 9.07% the S&P500.

Verition Fund Management Llc, which manages about $1.22B and $1.03B US Long portfolio, upped its stake in Nextera Energy Inc (NYSE:NEE) by 28,521 shares to 35,000 shares, valued at $4.91M in 2017Q2, according to the filing. It also increased its holding in Veeco Instrs Inc Del (Prn) by 3.50M shares in the quarter, for a total of 5.50M shares, and has risen its stake in Spdr S&P 500 Etf Tr (Put) (SPY).

Analysts await American Electric Power Company, Inc. (NYSE:AEP) to report earnings on January, 25. They expect $0.76 EPS, up 13.43 % or $0.09 from last year’s $0.67 per share. AEP’s profit will be $373.83 million for 25.05 P/E if the $0.76 EPS becomes a reality. After $1.10 actual EPS reported by American Electric Power Company, Inc. for the previous quarter, Wall Street now forecasts -30.91 % negative EPS growth.

Another recent and important American Electric Power Company, Inc. (NYSE:AEP) news was published by Nasdaq.com which published an article titled: “American Electric Power Company, Inc. (AEP) Ex-Dividend Date Scheduled for …” on November 08, 2017.

American Electric Power Company, Inc. (NYSE:AEP) Ratings Coverage

Among 19 analysts covering American Electric Power Company Inc. (NYSE:AEP), 8 have Buy rating, 0 Sell and 11 Hold. Therefore 42% are positive. American Electric Power Company Inc. has $83.0 highest and $7 lowest target. $70.67’s average target is -7.21% below currents $76.16 stock price. American Electric Power Company Inc. had 60 analyst reports since August 18, 2015 according to SRatingsIntel. The stock of American Electric Power Company, Inc. (NYSE:AEP) earned “Buy” rating by Jefferies on Thursday, September 17. The company was maintained on Monday, October 19 by SunTrust. The stock of American Electric Power Company, Inc. (NYSE:AEP) has “Hold” rating given on Tuesday, June 13 by Jefferies. Morgan Stanley maintained American Electric Power Company, Inc. (NYSE:AEP) on Monday, November 13 with “Equal-Weight” rating. The rating was maintained by Barclays Capital on Thursday, September 3 with “Overweight”. Barclays Capital maintained American Electric Power Company, Inc. (NYSE:AEP) rating on Thursday, April 28. Barclays Capital has “Overweight” rating and $68 target. The stock of American Electric Power Company, Inc. (NYSE:AEP) earned “Neutral” rating by Credit Suisse on Friday, October 23. On Friday, March 18 the stock rating was maintained by Barclays Capital with “Overweight”. The firm has “Hold” rating by RBC Capital Markets given on Sunday, October 8. KeyBanc Capital Markets maintained it with “Buy” rating and $76.0 target in Wednesday, October 18 report.

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