Wedge Capital Management L L P NC lowered its stake in shares of American Electric Power Co. (NYSE:AEP) by 9.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 189,126 shares of the company’s stock after selling 19,673 shares during the period. Wedge Capital Management L L P NC’s holdings in American Electric Power were worth $13,256,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of AEP. Bank of Montreal Can purchased a new position in shares of American Electric Power during the second quarter valued at about $261,970,000. State Street Corp raised its position in shares of American Electric Power by 7.5% in the first quarter. State Street Corp now owns 25,117,238 shares of the company’s stock valued at $1,667,787,000 after buying an additional 1,758,073 shares during the period. Renaissance Technologies LLC raised its position in shares of American Electric Power by 64.3% in the first quarter. Renaissance Technologies LLC now owns 2,332,500 shares of the company’s stock valued at $154,878,000 after buying an additional 912,500 shares during the period. PGGM Investments raised its position in shares of American Electric Power by 64.0% in the second quarter. PGGM Investments now owns 1,210,748 shares of the company’s stock valued at $84,861,000 after buying an additional 472,448 shares during the period. Finally, Energy Income Partners LLC raised its position in shares of American Electric Power by 57.5% in the first quarter. Energy Income Partners LLC now owns 1,039,446 shares of the company’s stock valued at $69,019,000 after buying an additional 379,386 shares during the period. Institutional investors own 68.71% of the company’s stock.

Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

Shares of American Electric Power Co. (NYSE:AEP) traded down 0.37% during midday trading on Friday, hitting $62.30. 2,490,069 shares of the stock were exchanged. The firm’s 50 day moving average is $64.29 and its 200-day moving average is $66.05. The stock has a market capitalization of $30.63 billion, a price-to-earnings ratio of 15.38 and a beta of 0.23. American Electric Power Co. has a 1-year low of $53.30 and a 1-year high of $71.32.

American Electric Power (NYSE:AEP) last announced its earnings results on Thursday, July 28th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. American Electric Power had a net margin of 12.50% and a return on equity of 9.54%. The business earned $3.90 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter last year, the firm earned $0.88 earnings per share. American Electric Power’s quarterly revenue was up 2.6% on a year-over-year basis. On average, analysts predict that American Electric Power Co. will post $3.69 EPS for the current year.

AEP has been the subject of several research analyst reports. Zacks Investment Research lowered shares of American Electric Power from a “hold” rating to a “sell” rating in a report on Tuesday, July 12th. KeyCorp set a $72.50 price target on shares of American Electric Power and gave the company a “buy” rating in a report on Monday, September 12th. Goldman Sachs Group Inc. raised shares of American Electric Power from a “neutral” rating to a “buy” rating and boosted their price target for the company from $71.00 to $73.00 in a report on Tuesday, July 26th. Jefferies Group boosted their price target on shares of American Electric Power from $75.00 to $77.00 and gave the company a “buy” rating in a report on Friday, July 29th. Finally, Hilliard Lyons lowered shares of American Electric Power from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $68.17.

American Electric Power Company Profile

American Electric Power Company, Inc (AEP) is a public utility holding company that owns, directly or indirectly, all of the outstanding common stock of its public utility subsidiaries and varying percentages of other subsidiaries. The Company’s segments include Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing.

5 Day Chart for NYSE:AEP

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