Economy

AEP to invest $1.8B in renewable energy

Tokio Marine Asset Management Co Ltd acquired 6,920 shares as Zoetis Inc (ZTS)'s stock rose 14.85%. Vanguard Group Inc. now owns 34,987,758 shares of the utilities provider's stock valued at $2,430,599,000 after purchasing an additional 859,169 shares during the period. The stock declined 1.43% or $1 reaching $68.71 on the news. About 1.33M shares traded. Zoetis Inc (NYSE:ZTS) has risen 29.89% since November 7, 2016 and is uptrending. It has outperformed by 13.19% the S&P500.

First National Bank Of Mount Dora Trust Investment Services decreased American Elec Pwr Inc (AEP) stake by 9.55% reported in 2017Q2 SEC filing.

Analysts on average have given a price target of $74.13 to American Electric Power Co., Inc. A P/B ratio of less than 1.0 can indicate that a stock is undervalued, while a ratio of greater than 1.0 may indicate that a stock is overvalued. About 893,550 shares traded. Vanguard Group Inc. raised its holdings in shares of American Electric Power by 2.5% in the 2nd quarter. It has underperformed by 9.07% the S&P500. They set a "buy" rating and a $79.00 price target on the stock. Therefore 70% are positive. The firm's stock has a market capitalization of $36.43 bln. The company was maintained on Thursday, August 24 by Cowen & Co. RBC Capital Markets maintained the stock with "Hold" rating in Sunday, September 3 report. Jefferies maintained Zoetis Inc (NYSE:ZTS) rating on Friday, July 14. Research Global Invsts stated it has 10.11 million shares. Gabelli Funds Ltd Liability Co owns 819,500 shares. Csx Corp (NYSE:CSX) was raised too. Its up 0.10, from 0.99 in 2017Q1. Dnb Asset Mngmt As reported 30,000 shares or 0% of all its holdings. Moreover, Meiji Yasuda Life Insurance Co has 0.21% invested in Zoetis Inc (NYSE:ZTS). The company reported $1.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.22 by $0.08. Investec Asset accumulated 76,418 shares. Hilltop holds 0.17% or 8,493 shares in its portfolio. Covington stated it has 46,465 shares or 1.23% of all its holdings. Northwestern Mutual Wealth Management Commerce has 0.04% invested in AutoZone, Inc. Exane Derivatives holds 5,315 shares. Rfg Advisory Group Incorporated Limited Liability invested in 0.07% or 3,586 shares. Cullen Frost Bankers owns 17,287 shares for 0.04% of their portfolio.

Investors sentiment increased to 1.09 in 2017 Q2. It improved, as 37 investors sold AEP shares while 255 reduced holdings. 348.55 million shares or 2.95% more from 338.55 million shares in 2017Q1 were reported. Regentatlantic Cap Lc has invested 0.17% of its portfolio in American Electric Power Company Inc (NYSE:AEP). Prudential Financial Inc. owned about 0.54% of American Electric Power worth $170,899,000 at the end of the most recent reporting period. Manning And Napier Advsr Limited Liability owns 100,483 shares. 3,758 are held by Lombard Odier Asset Management (Switzerland) Sa. Farmers Merchants holds 0.4% or 69,055 shares in its portfolio. Institutional ownership is usually beneficial to a stock price initially, but very high institutional ownership has several shortcomings. Over the 52-week time span, the stock notched a high price of $74.92 and its minimum price was $57.89. Wealthfront has 0.01% invested in American Electric Power Company Inc (NYSE:AEP) for 11,709 shares.

Robeco Institutional Asset Management B.V. cut its position in shares of American Electric Power Company, Inc. Geneva Advisors Ltd Com accumulated 5,913 shares or 0.01% of the stock. Bankshares Of America De holds 16.77 million shares.

An earnings forecast is an analyst's outlook for a company's future quarterly or annual earnings. As per Friday, October 23, the company rating was downgraded by Credit Suisse. The firm earned "Buy" rating on Tuesday, June 20 by Oppenheimer. The firm earned "Outperform" rating on Tuesday, January 10 by Wells Fargo. Jefferies has "Buy" rating and $77 target. Barclays Capital maintained the shares of AEP in report on Tuesday, December 15 with "Overweight" rating. Mizuho initiated the stock with "Buy" rating in Tuesday, August 18 report. Morgan Stanley reiterated an "equal weight" rating on shares of American Electric Power in a report on Monday, July 10th.

A number of other institutional investors and hedge funds have also made changes to their positions in the business.

Since May 16, 2017, it had 0 buys, and 1 insider sale for $75,706 activity.

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