Meiji Yasuda Asset Management Co Ltd. lowered its position in shares of American Electric Power Company, Inc. (NYSE:AEP) by 22.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,339 shares of the utilities provider’s stock after selling 3,560 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in American Electric Power were worth $828,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of AEP. Wells Fargo & Company MN increased its stake in American Electric Power by 16.2% in the first quarter. Wells Fargo & Company MN now owns 7,668,864 shares of the utilities provider’s stock worth $514,810,000 after buying an additional 1,069,388 shares in the last quarter. Bank of Montreal Can increased its stake in American Electric Power by 47.4% in the first quarter. Bank of Montreal Can now owns 3,228,569 shares of the utilities provider’s stock worth $216,733,000 after buying an additional 1,037,813 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in American Electric Power by 352.8% in the first quarter. Canada Pension Plan Investment Board now owns 1,002,252 shares of the utilities provider’s stock worth $67,281,000 after buying an additional 780,900 shares in the last quarter. JPMorgan Chase & Co. increased its stake in American Electric Power by 18.5% in the first quarter. JPMorgan Chase & Co. now owns 4,071,715 shares of the utilities provider’s stock worth $273,333,000 after buying an additional 636,306 shares in the last quarter. Finally, Pioneer Investment Management Inc. increased its stake in American Electric Power by 14.2% in the first quarter. Pioneer Investment Management Inc. now owns 4,719,353 shares of the utilities provider’s stock worth $316,810,000 after buying an additional 585,220 shares in the last quarter. 70.54% of the stock is owned by institutional investors.

American Electric Power Company, Inc. (NYSE AEP) traded down 0.45% during mid-day trading on Friday, reaching $70.88. The company’s stock had a trading volume of 1,879,494 shares. The stock has a market cap of $34.86 billion, a P/E ratio of 61.00 and a beta of 0.30. American Electric Power Company, Inc. has a one year low of $57.89 and a one year high of $72.97. The firm’s 50 day moving average is $70.10 and its 200-day moving average is $67.73.

American Electric Power (NYSE:AEP) last released its earnings results on Thursday, July 27th. The utilities provider reported $0.75 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by $0.07. American Electric Power had a return on equity of 10.32% and a net margin of 3.60%. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same quarter last year, the business posted $0.95 EPS. Equities analysts expect that American Electric Power Company, Inc. will post $3.66 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 10th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.33%. American Electric Power’s dividend payout ratio is presently 203.45%.

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A number of equities analysts have recently commented on AEP shares. BidaskClub lowered American Electric Power from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Goldman Sachs Group, Inc. (The) downgraded American Electric Power from a “buy” rating to a “neutral” rating and raised their price target for the company from $68.00 to $70.00 in a research report on Monday, June 26th. BMO Capital Markets restated an “outperform” rating and set a $75.00 price target (up previously from $73.00) on shares of American Electric Power in a research report on Friday, July 28th. Royal Bank Of Canada restated a “hold” rating and set a $71.00 price target on shares of American Electric Power in a research report on Wednesday. Finally, Zacks Investment Research upgraded American Electric Power from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. American Electric Power has an average rating of “Hold” and a consensus price target of $72.09.

In other American Electric Power news, insider Paul Chodak III sold 1,110 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $68.20, for a total transaction of $75,702.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.15% of the company’s stock.

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 service areas of the Company’s public utility subsidiaries cover the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.

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

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