Penobscot Investment Management Company Inc. maintained its stake in shares of American Electric Power Company, Inc. (NYSE:AEP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,666 shares of the utilities provider’s stock at the end of the second quarter. Penobscot Investment Management Company Inc.’s holdings in American Electric Power were worth $324,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Ledyard National Bank increased its stake 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 period. Point72 Asia Hong Kong Ltd purchased a new position in shares of American Electric Power during the first quarter worth $105,000. Chicago Partners Investment Group LLC increased its position in shares of 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 shares of 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 shares of 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. Hedge funds and other institutional investors own 70.77% of the company’s stock.

Shares of American Electric Power Company, Inc. (NYSE AEP) opened at 72.16 on Monday. American Electric Power Company, Inc. has a 12 month low of $57.89 and a 12 month high of $72.97. The stock has a 50 day moving average of $70.00 and a 200-day moving average of $68.41. The company has a market cap of $35.49 billion, a PE ratio of 62.10 and a beta of 0.30.

American Electric Power (NYSE:AEP) last announced its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.75 earnings per share for the quarter, missing the 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 analysts’ expectations of $3.70 billion. During the same period last year, the business posted $0.95 EPS. Equities analysts forecast that American Electric Power Company, Inc. will post $3.66 earnings per share for the current year.

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

TRADEMARK VIOLATION NOTICE: “Penobscot Investment Management Company Inc. Holds Position in American Electric Power Company, Inc. (AEP)” was first posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this report on another publication, it was stolen and reposted in violation of international trademark & copyright legislation. The correct version of this report can be viewed at https://www.thecerbatgem.com/2017/08/21/penobscot-investment-management-company-inc-holds-position-in-american-electric-power-company-inc-aep.html.

AEP has been the topic of a number of recent analyst reports. Barclays PLC restated an “overweight” rating and set a $76.00 target price (up from $71.00) on shares of American Electric Power in a report on Sunday, April 23rd. Zacks Investment Research downgraded shares of American Electric Power from a “hold” rating to a “sell” rating in a report on Friday, April 28th. Jefferies Group LLC boosted their target price on shares of American Electric Power from $68.00 to $70.00 and gave the stock a “hold” rating in a report on Friday, April 28th. BidaskClub downgraded shares of American Electric Power from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Finally, Goldman Sachs Group, Inc. (The) downgraded shares of American Electric Power from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $68.00 to $70.00 in a report on Monday, June 26th. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. American Electric Power has an average rating of “Hold” and a consensus price target of $72.17.

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.

Want to see what other hedge funds are holding AEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Electric Power Company, Inc. (NYSE:AEP).

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

Receive News & Stock Ratings for American Electric Power Company Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Electric Power Company Inc. and related stocks with our FREE daily email newsletter.