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 9.56% during the most recent quarter end. The investment management company now holds a total of 3,209,117 shares of American Electric Power Company Inc which is valued at $216,775,853 after selling 339,349 shares in American Electric Power Company Inc , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.American Electric Power Company Inc makes up approximately 0.81% of Pictet Asset Management Ltd’s portfolio.

Other Hedge Funds, Including , Cornerstone Capital Management Holdings. reduced its stake in AEP by selling 15,299 shares or 10.48% in the most recent quarter. The Hedge Fund company now holds 130,671 shares of AEP which is valued at $8,826,826. American Electric Power Company Inc makes up approx 0.07% of Cornerstone Capital Management Holdings.’s portfolio.Raymond James Associates boosted its stake in AEP in the latest quarter, The investment management firm added 20,606 additional shares and now holds a total of 684,189 shares of American Electric Power Company Inc which is valued at $46,216,967. American Electric Power Company Inc makes up approx 0.14% of Raymond James Associates’s portfolio.Foster Motley Inc reduced its stake in AEP by selling 485 shares or 3.89% in the most recent quarter. The Hedge Fund company now holds 11,990 shares of AEP which is valued at $820,716. American Electric Power Company Inc makes up approx 0.16% of Foster Motley Inc’s portfolio.1st Source Bank reduced its stake in AEP by selling 2,791 shares or 7.13% in the most recent quarter. The Hedge Fund company now holds 36,368 shares of AEP which is valued at $2,520,302. American Electric Power Company Inc makes up approx 0.28% of 1st Source Bank’s portfolio.Independent Portfolio Consultants reduced its stake in AEP by selling 1,040 shares or 50.86% in the most recent quarter. The Hedge Fund company now holds 1,005 shares of AEP which is valued at $70,300. American Electric Power Company Inc makes up approx 0.02% of Independent Portfolio Consultants’s portfolio.

American Electric Power Company Inc opened for trading at $64.87 and hit $65.37 on the upside on Monday, eventually ending the session at $65.18, with a gain of 0.76% or 0.49 points. The heightened volatility saw the trading volume jump to 22,69,259 shares. Company has a market cap of $32,050 M.

On the company’s financial health, American Electric Power Company Inc reported $0.95 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.90. The company had revenue of $3900.00 million for the quarter, compared to analysts expectations of $3981.30 million. The company’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 EPS.

Many Wall Street Analysts have commented on American Electric Power Company Inc. American Electric Power Company Inc was Upgraded by Goldman to ” Buy” on Jul 26, 2016.

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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