Morningstar Investment Services LLC cut its stake in American Electric Power Company, Inc. (NYSE:AEP) by 4.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 773,699 shares of the utilities provider’s stock after selling 33,228 shares during the quarter. American Electric Power comprises approximately 1.2% of Morningstar Investment Services LLC’s holdings, making the stock its 25th largest holding. Morningstar Investment Services LLC owned approximately 0.16% of American Electric Power worth $54,344,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of AEP. Vanguard Group Inc. increased its stake in 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 worth $2,430,599,000 after purchasing an additional 859,169 shares during the period. Capital Research Global Investors increased its stake in American Electric Power by 223.4% in the second quarter. Capital Research Global Investors now owns 10,110,731 shares of the utilities provider’s stock worth $702,392,000 after purchasing an additional 6,983,864 shares during the period. Wells Fargo & Company MN increased its stake in American Electric Power by 1.3% in the second 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 period. Alliancebernstein L.P. increased its stake in American Electric Power by 3.7% in the second 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 period. Finally, Pioneer Investment Management Inc. increased its stake in 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 worth $372,398,000 after purchasing an additional 641,210 shares during the period. Institutional investors own 71.29% of the company’s stock.

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Shares of American Electric Power Company, Inc. (AEP) traded down $0.18 during trading on Thursday, hitting $76.59. The stock had a trading volume of 1,065,300 shares, compared to its average volume of 2,312,131. The stock has a market capitalization of $37,762.04, a price-to-earnings ratio of 22.06, a P/E/G ratio of 4.47 and a beta of 0.29. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.43 and a current ratio of 0.56. American Electric Power Company, Inc. has a 1 year low of $57.89 and a 1 year high of $77.93.

American Electric Power (NYSE:AEP) last announced its quarterly earnings results on Thursday, October 26th. The utilities provider reported $1.10 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.06). American Electric Power had a net margin of 12.21% and a return on equity of 9.67%. The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.42 billion. During the same quarter in the prior year, the business posted $1.30 EPS. The business’s quarterly revenue was down 12.8% on a year-over-year basis. research analysts forecast that American Electric Power Company, Inc. will post 3.61 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 10th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend is Thursday, November 9th. This is an increase from American Electric Power’s previous quarterly dividend of $0.59. American Electric Power’s dividend payout ratio (DPR) is currently 64.92%.

A number of research firms have weighed in on AEP. J P Morgan Chase & Co increased their target price on American Electric Power to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, October 12th. 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 Wednesday, August 2nd. Deutsche Bank AG lowered American Electric Power from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Morgan Stanley increased their target price on American Electric Power from $71.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 10th. Finally, ValuEngine upgraded American Electric Power from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $73.91.

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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