Castleton Investment Management LLC decreased its stake in American Electric Power Company, Inc. (NYSE:AEP) by 10.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 423,368 shares of the utilities provider’s stock after selling 50,635 shares during the quarter. American Electric Power makes up about 10.2% of Castleton Investment Management LLC’s holdings, making the stock its biggest position. Castleton Investment Management LLC owned approximately 0.09% of American Electric Power worth $29,411,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Ledyard National Bank lifted its holdings in shares of American Electric Power by 52.6% during the 2nd quarter. Ledyard National Bank now owns 1,450 shares of the utilities provider’s stock valued at $101,000 after buying an additional 500 shares during the last quarter. Point72 Asia Hong Kong Ltd bought a new stake in shares of American Electric Power in the 1st quarter valued at approximately $105,000. Chicago Partners Investment Group LLC grew its stake in shares of American Electric Power by 0.3% in the 1st 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 in the last quarter. Smithfield Trust Co. grew its stake in shares of American Electric Power by 8.1% in the 2nd quarter. Smithfield Trust Co. now owns 1,677 shares of the utilities provider’s stock valued at $117,000 after buying an additional 125 shares in the last quarter. Finally, Zions Bancorporation grew its stake in shares of American Electric Power by 1.3% in the 1st quarter. Zions Bancorporation now owns 1,680 shares of the utilities provider’s stock valued at $113,000 after buying an additional 21 shares in the last quarter. Institutional investors own 71.20% of the company’s stock.

A number of research firms recently commented on AEP. KeyCorp restated a “buy” rating and issued a $73.00 price objective on shares of American Electric Power in a report on Friday, September 1st. Royal Bank Of Canada reiterated a “hold” rating and issued a $71.00 target price on shares of American Electric Power in a research note on Monday, September 4th. Morgan Stanley reiterated an “equal weight” rating on shares of American Electric Power in a research note on Friday, September 8th. 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. Finally, BidaskClub raised shares of American Electric Power from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $72.20.

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American Electric Power Company, Inc. (NYSE AEP) traded up 1.14% on Wednesday, reaching $71.09. 1,288,347 shares of the company were exchanged. American Electric Power Company, Inc. has a 12-month low of $57.89 and a 12-month high of $74.59. The firm has a market capitalization of $34.96 billion, a PE ratio of 61.18 and a beta of 0.28. The stock has a 50 day moving average of $72.46 and a 200 day moving average of $70.13.

American Electric Power (NYSE:AEP) last released its earnings results on Thursday, July 27th. The utilities provider reported $0.75 earnings per share (EPS) 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 company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the previous year, the company posted $0.95 EPS. Equities analysts anticipate that American Electric Power Company, Inc. will post $3.65 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Thursday, August 10th were paid a $0.59 dividend. The ex-dividend date was Tuesday, August 8th. This represents a $2.36 dividend on an annualized basis and a yield of 3.36%. American Electric Power’s dividend payout ratio is 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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