M&T Bank Corp cut its stake in shares of American Electric Power Co. (NYSE:AEP) by 6.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 56,806 shares of the company’s stock after selling 3,829 shares during the period. M&T Bank Corp’s holdings in American Electric Power were worth $3,647,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of AEP. Brick & Kyle Associates boosted its stake in American Electric Power by 18.7% in the second quarter. Brick & Kyle Associates now owns 1,430 shares of the company’s stock valued at $100,000 after buying an additional 225 shares during the period. Jackson Grant Investment Advisers Inc. boosted its stake in American Electric Power by 0.8% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,447 shares of the company’s stock valued at $101,000 after buying an additional 12 shares during the period. Van ECK Associates Corp purchased a new stake in American Electric Power during the second quarter valued at $104,000. Krilogy Financial LLC boosted its stake in American Electric Power by 105.2% in the second quarter. Krilogy Financial LLC now owns 1,531 shares of the company’s stock valued at $107,000 after buying an additional 785 shares during the period. Finally, Wealthcare Capital Management LLC purchased a new stake in American Electric Power during the second quarter valued at $108,000. 67.52% of the stock is owned by institutional investors and hedge funds.

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

Shares of American Electric Power Co. (NYSE:AEP) traded down 3.62% during midday trading on Wednesday, hitting $59.05. 3,515,241 shares of the stock were exchanged. The firm has a market cap of $29.04 billion, a P/E ratio of 41.12 and a beta of 0.23. The firm has a 50 day moving average of $61.63 and a 200 day moving average of $65.29. American Electric Power Co. has a 12-month low of $54.08 and a 12-month high of $71.32.

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

The business also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Thursday, November 10th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 4.00%. This is an increase from American Electric Power’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Tuesday, November 8th. American Electric Power’s payout ratio is presently 163.89%.

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Several research firms have recently weighed in on AEP. Jefferies Group reissued a “hold” rating and issued a $67.00 price target on shares of American Electric Power in a research note on Tuesday, October 25th. Zacks Investment Research cut shares of American Electric Power from a “buy” rating to a “hold” rating in a research report on Wednesday, September 14th. Evercore ISI cut shares of American Electric Power from a “buy” rating to a “hold” rating in a research report on Wednesday, November 2nd. SunTrust Banks Inc. increased their price objective on shares of American Electric Power from $74.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, September 26th. Finally, RBC Capital Markets reaffirmed a “hold” rating and set a $67.00 price objective (down previously from $72.00) on shares of American Electric Power in a research report on Thursday, October 13th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus 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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