Voya Investment Management LLC raised its holdings in American Electric Power Company, Inc. (NYSE:AEP) by 0.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 255,829 shares of the utilities provider’s stock after purchasing an additional 454 shares during the period. Voya Investment Management LLC owned 0.05% of American Electric Power worth $17,773,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of American Electric Power by 2.5% in the second quarter. Vanguard Group Inc. now owns 34,987,758 shares of the utilities provider’s stock valued at $2,430,599,000 after purchasing an additional 859,169 shares during the last quarter. BlackRock Inc. increased its stake in shares of American Electric Power by 2,394.3% during the 1st quarter. BlackRock Inc. now owns 33,819,821 shares of the utilities provider’s stock worth $2,270,326,000 after purchasing an additional 32,463,953 shares in the last quarter. State Street Corp raised its position in shares of American Electric Power by 0.6% during the 1st quarter. State Street Corp now owns 25,061,133 shares of the utilities provider’s stock worth $1,682,343,000 after purchasing an additional 153,485 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of American Electric Power by 1.3% during the 2nd quarter. Wells Fargo & Company MN now owns 7,769,068 shares of the utilities provider’s stock worth $539,718,000 after purchasing an additional 100,204 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of American Electric Power by 3.7% during the 2nd quarter. Alliancebernstein L.P. now owns 6,350,925 shares of the utilities provider’s stock worth $441,199,000 after purchasing an additional 224,199 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors.

A number of research firms recently issued reports on AEP. Mizuho lowered American Electric Power from a “buy” rating to a “neutral” rating and reduced their target price for the company from $74.00 to $73.00 in a research note on Friday, September 22nd. Morgan Stanley reiterated an “equal weight” rating on shares of American Electric Power in a report on Friday, September 8th. Royal Bank Of Canada reissued a “hold” rating and set a $71.00 price target on shares of American Electric Power in a research report on Monday, September 4th. KeyCorp reissued a “buy” rating and set a $73.00 price target on shares of American Electric Power in a research report on Friday, September 1st. Finally, BidaskClub raised American Electric Power from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. American Electric Power currently has a consensus rating of “Hold” and a consensus price target of $71.90.

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American Electric Power Company, Inc. (NYSE AEP) opened at 70.43 on Tuesday. The firm has a market capitalization of $34.64 billion, a price-to-earnings ratio of 60.61 and a beta of 0.28. American Electric Power Company, Inc. has a 1-year low of $57.89 and a 1-year high of $74.59. The company has a 50-day moving average price of $72.48 and a 200 day moving average price of $70.11.

American Electric Power (NYSE:AEP) last posted 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 for the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the previous year, the firm posted $0.95 earnings per share. Equities analysts anticipate that American Electric Power Company, Inc. will post $3.65 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Thursday, August 10th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.35%. American Electric Power’s payout ratio is currently 203.45%.

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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