Everence Capital Management Inc. held its stake in shares of American Electric Power Company, Inc. (NYSE:AEP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,270 shares of the utilities provider’s stock at the end of the second quarter. Everence Capital Management Inc.’s holdings in American Electric Power were worth $1,061,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of American Electric Power by 3.4% in the first quarter. Vanguard Group Inc. now owns 34,128,589 shares of the utilities provider’s stock valued at $2,291,051,000 after buying an additional 1,124,366 shares during the period. BlackRock Inc. increased its stake in shares of American Electric Power by 2,394.3% in the first quarter. BlackRock Inc. now owns 33,819,821 shares of the utilities provider’s stock valued at $2,270,326,000 after buying an additional 32,463,953 shares during the period. State Street Corp increased its stake in shares of American Electric Power by 0.6% in the first quarter. State Street Corp now owns 25,061,133 shares of the utilities provider’s stock valued at $1,682,343,000 after buying an additional 153,485 shares during the period. Wells Fargo & Company MN increased its stake in shares of 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 valued at $514,810,000 after buying an additional 1,069,388 shares during the period. Finally, Pioneer Investment Management Inc. increased its stake in shares of American Electric Power by 13.6% in the second quarter. Pioneer Investment Management Inc. now owns 5,360,563 shares of the utilities provider’s stock valued at $372,398,000 after buying an additional 641,210 shares during the period. 70.77% of the stock is owned by institutional investors.

American Electric Power Company, Inc. (NYSE:AEP) opened at 72.67 on Tuesday. The stock’s 50 day moving average is $70.09 and its 200 day moving average is $68.54. 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 $35.74 billion, a PE ratio of 62.54 and a beta of 0.30.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 10th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.25%. American Electric Power’s payout ratio is currently 203.45%.

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Several equities research analysts recently weighed in on AEP shares. Zacks Investment Research raised shares of American Electric Power from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. BidaskClub downgraded shares of American Electric Power from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Morgan Stanley reissued an “equal weight” rating on shares of American Electric Power in a research report on Monday, July 10th. Jefferies Group LLC reissued a “hold” rating and set a $70.00 price target on shares of American Electric Power in a research report on Wednesday, July 19th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $75.00 target price (up previously from $73.00) on shares of American Electric Power in a research report on Friday, July 28th. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. American Electric Power has a consensus rating of “Hold” and an average 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.

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

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