JPMorgan Chase & Co. lowered its position in shares of American Electric Power Co. (NYSE:AEP) by 7.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,324,098 shares of the company’s stock after selling 360,603 shares during the period. JPMorgan Chase & Co. owned approximately 0.88% of American Electric Power worth $277,651,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AEP. BlackRock Fund Advisors increased its position in American Electric Power by 7.6% in the second quarter. BlackRock Fund Advisors now owns 10,520,383 shares of the company’s stock worth $737,374,000 after buying an additional 740,983 shares in the last quarter. FMR LLC increased its position in American Electric Power by 72.8% in the second quarter. FMR LLC now owns 9,114,402 shares of the company’s stock worth $638,828,000 after buying an additional 3,840,681 shares in the last quarter. Alliancebernstein L.P. increased its position in American Electric Power by 3.9% in the second quarter. Alliancebernstein L.P. now owns 6,149,393 shares of the company’s stock worth $431,011,000 after buying an additional 233,632 shares in the last quarter. AQR Capital Management LLC increased its position in American Electric Power by 10.7% in the second quarter. AQR Capital Management LLC now owns 5,843,015 shares of the company’s stock worth $409,537,000 after buying an additional 562,775 shares in the last quarter. Finally, Royal Bank of Canada increased its position in American Electric Power by 5.1% in the second quarter. Royal Bank of Canada now owns 5,757,107 shares of the company’s stock worth $403,515,000 after buying an additional 277,429 shares in the last quarter. Hedge funds and other institutional investors own 67.52% of the company’s stock.

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

American Electric Power Co. (NYSE:AEP) opened at 60.90 on Tuesday. The stock’s 50 day moving average price is $61.65 and its 200 day moving average price is $65.32. The stock has a market cap of $29.95 billion, a price-to-earnings ratio of 42.41 and a beta of 0.23. American Electric Power Co. has a 52 week low of $54.08 and a 52 week high of $71.32.

American Electric Power (NYSE:AEP) last issued its earnings results on Tuesday, November 1st. The company reported $1.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.08. The company earned $4.70 billion during the quarter, compared to analysts’ expectations of $4.68 billion. American Electric Power had a return on equity of 10.25% and a net margin of 4.37%. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.06 EPS. On average, analysts forecast that American Electric Power Co. will post $3.79 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Thursday, November 10th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 3.95%. The ex-dividend date is Tuesday, November 8th. This is a positive change from American Electric Power’s previous quarterly dividend of $0.56. American Electric Power’s dividend payout ratio is 163.89%.

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A number of brokerages recently issued reports on AEP. KeyCorp set a $72.50 price target on American Electric Power and gave the stock a “buy” rating in a research report on Monday, September 12th. Zacks Investment Research upgraded American Electric Power from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a research report on Tuesday, September 13th. Jefferies Group restated a “hold” rating and issued a $67.00 price target on shares of American Electric Power in a research report on Tuesday, October 25th. Citigroup Inc. raised their price target on American Electric Power from $68.00 to $69.00 and gave the stock a “neutral” rating in a research report on Thursday, September 8th. Finally, Royal Bank Of Canada lowered their price target on American Electric Power from $72.00 to $67.00 and set a “sector perform” rating for the company in a research report on Thursday, October 13th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $68.50.

About American Electric Power

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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