Duff & Phelps Investment Management Co. boosted its stake in shares of American Electric Power Co. (NYSE:AEP) by 6.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 999,805 shares of the company’s stock after buying an additional 57,920 shares during the period. Duff & Phelps Investment Management Co. owned about 0.20% of American Electric Power worth $64,197,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the stock. BlackRock Fund Advisors boosted 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 boosted 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. boosted 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 boosted 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 boosted 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 59.855 on Wednesday. The stock’s 50 day moving average price is $61.66 and its 200 day moving average price is $65.32. American Electric Power Co. has a 1-year low of $54.08 and a 1-year high of $71.32. The firm has a market cap of $29.43 billion, a P/E ratio of 41.682 and a beta of 0.23.

American Electric Power (NYSE:AEP) last issued its quarterly earnings data on Tuesday, November 1st. The company reported $1.30 EPS for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.08. The firm earned $4.70 billion during the quarter, compared to the consensus estimate 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 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. Equities research analysts predict that American Electric Power Co. will post $3.79 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Thursday, November 10th will be paid a dividend of $0.59 per share. This is an increase from American Electric Power’s previous quarterly dividend of $0.56. This represents a $2.36 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date is Tuesday, November 8th. American Electric Power’s dividend payout ratio is presently 163.89%.

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

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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