DnB Asset Management AS increased its stake in American Electric Power Company, Inc. (NYSE:AEP) by 3.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,000 shares of the utilities provider’s stock after buying an additional 1,000 shares during the period. DnB Asset Management AS’s holdings in American Electric Power were worth $2,084,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Chicago Partners Investment Group LLC raised 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 valued at $107,000 after buying an additional 5 shares during the period. Thompson Davis & CO. Inc. raised 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 valued at $117,000 after buying an additional 6 shares during the period. Jackson Grant Investment Advisers Inc. raised its position in American Electric Power by 0.5% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 2,812 shares of the utilities provider’s stock valued at $189,000 after buying an additional 13 shares during the period. Guardian Life Insurance Co. of America raised its position in American Electric Power by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,897 shares of the utilities provider’s stock valued at $127,000 after buying an additional 13 shares during the period. Finally, Smith Moore & CO. raised its position in American Electric Power by 0.4% in the first quarter. Smith Moore & CO. now owns 3,383 shares of the utilities provider’s stock valued at $227,000 after buying an additional 15 shares during the period. 70.77% of the stock is currently owned by hedge funds and other institutional investors.

Shares of American Electric Power Company, Inc. (NYSE:AEP) traded up 0.22% during trading on Friday, reaching $72.16. The company’s stock had a trading volume of 2,871,369 shares. American Electric Power Company, Inc. has a 52-week low of $57.89 and a 52-week high of $72.97. The stock has a market cap of $35.49 billion, a P/E ratio of 62.10 and a beta of 0.30. The stock has a 50-day moving average of $70.00 and a 200-day moving average of $68.41.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 10th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend is Tuesday, August 8th. American Electric Power’s dividend payout ratio is 203.45%.

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Several research analysts have weighed in on the company. BidaskClub lowered American Electric Power from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Jefferies Group LLC boosted their price target on American Electric Power from $68.00 to $70.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Goldman Sachs Group, Inc. (The) downgraded American Electric Power from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $68.00 to $70.00 in a research note on Monday, June 26th. Zacks Investment Research downgraded American Electric Power from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of American Electric Power in a research note on Monday, July 10th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $72.17.

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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