Pictet Asset Management Ltd Lowers stake in American Electric Power Company Inc (AEP)

American Electric Power Company Inc (AEP) : Pictet Asset Management Ltd reduced its stake in American Electric Power Company Inc by 2.02% during the most recent quarter end. The investment management company now holds a total of 3,548,466 shares of American Electric Power Company Inc which is valued at $232.8 Million after selling 73,182 shares in American Electric Power Company Inc , the firm said in a disclosure report filed with the SEC on May 13, 2016.American Electric Power Company Inc makes up approximately 0.97% of Pictet Asset Management Ltd’s portfolio.

Other Hedge Funds, Including , Verition Fund Management reduced its stake in AEP by selling 8,029 shares or 22.94% in the most recent quarter. The Hedge Fund company now holds 26,971 shares of AEP which is valued at $1.8 Million. American Electric Power Company Inc makes up approx 0.47% of Verition Fund Management’s portfolio.Mosaic Family Wealth reduced its stake in AEP by selling 1,347 shares or 18.91% in the most recent quarter. The Hedge Fund company now holds 5,777 shares of AEP which is valued at $379,029. American Electric Power Company Inc makes up approx 0.18% of Mosaic Family Wealth’s portfolio. Ipswich Investment Management added AEP to its portfolio by purchasing 2,700 company shares during the most recent quarter which is valued at $177,147. American Electric Power Company Inc makes up approx 0.09% of Ipswich Investment Management’s portfolio. Cobblestone Capital Advisors Ny added AEP to its portfolio by purchasing 3,414 company shares during the most recent quarter which is valued at $220,408. American Electric Power Company Inc makes up approx 0.03% of Cobblestone Capital Advisors Ny’s portfolio.

American Electric Power Company Inc closed down -0.2 points or -0.31% at $63.43 with 24,07,886 shares getting traded on Wednesday. Post opening the session at $63.29, the shares hit an intraday low of $63 and an intraday high of $63.78 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, American Electric Power Company Inc reported $1.02 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $1.04. The company had revenue of $4000.00 million for the quarter, compared to analysts expectations of $4494.07 million. The company’s revenue was down -13.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.28 EPS.

Many Wall Street Analysts have commented on American Electric Power Company Inc. Company shares were Reiterated by Argus on Feb 22, 2016 to “Buy”, Firm has raised the Price Target to $ 67 from a previous price target of $61 .

American Electric Power Company Inc. is a utility holding company. It operates in five segments. The vertically integrated utilities segment generates transmits and distributes electricity through AEP Generating Company Appalachian Power Company Indiana Michigan Power Company Kingsport Power Company Kentucky Power Company Public Service Company of Oklahoma Southwestern Electric Power Company and Wheeling Power Company. The Transmission and Distribution Utilities segment transmits and distributes electricity through Ohio Power Company AEP Texas Central Company and AEP Texas North Company. The Generation & Marketing segment’s subsidiaries consist of nonutility generating assets a wholesale energy trading and marketing business and a retail supply and energy management business. AEP Transmission Holdco is a holding company for AEP’s transmission joint ventures and AEP Transmission Company LLC. The AEP River Operations segment transports liquid coal and dry bulk commodities.

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