Kornitzer Capital Management Inc. KS increased its position in American Electric Power Company, Inc. (NYSE:AEP) by 1.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,499 shares of the utilities provider’s stock after buying an additional 300 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in American Electric Power were worth $1,285,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Ledyard National Bank increased its position in American Electric Power by 52.6% in the second quarter. Ledyard National Bank now owns 1,450 shares of the utilities provider’s stock worth $101,000 after buying an additional 500 shares during the last quarter. Point72 Asia Hong Kong Ltd bought a new position in American Electric Power during the first quarter worth about $105,000. Chicago Partners Investment Group LLC increased its position in American Electric Power by 0.3% in the first quarter. Chicago Partners Investment Group LLC now owns 1,599 shares of the utilities provider’s stock worth $107,000 after buying an additional 5 shares during the last quarter. Zions Bancorporation increased its position in American Electric Power by 1.3% in the first quarter. Zions Bancorporation now owns 1,680 shares of the utilities provider’s stock worth $113,000 after buying an additional 21 shares during the last quarter. Finally, Thompson Davis & CO. Inc. increased its position in American Electric Power by 0.3% in the first quarter. Thompson Davis & CO. Inc. now owns 1,741 shares of the utilities provider’s stock worth $117,000 after buying an additional 6 shares during the last quarter. 70.83% of the stock is owned by institutional investors.

Shares of American Electric Power Company, Inc. (NYSE AEP) opened at 70.96 on Thursday. The stock has a market cap of $34.90 billion, a PE ratio of 61.07 and a beta of 0.30. The stock’s 50 day moving average is $69.93 and its 200-day moving average is $68.01. American Electric Power Company, Inc. has a 12-month low of $57.89 and a 12-month high of $72.97.

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

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

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A number of research firms recently issued reports on AEP. BidaskClub raised shares of American Electric Power from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Royal Bank Of Canada reaffirmed a “hold” rating and set a $71.00 target price on shares of American Electric Power in a research note on Wednesday, August 2nd. Zacks Investment Research raised shares of American Electric Power from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. BMO Capital Markets reaffirmed an “outperform” rating and set a $75.00 target price (up previously from $73.00) on shares of American Electric Power in a research note on Friday, July 28th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $70.00 target price on shares of American Electric Power in a research note on Wednesday, July 19th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $72.09.

In other news, insider Paul Chodak III sold 1,110 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $68.20, for a total value of $75,702.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.15% of the company’s stock.

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 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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