Verition Fund Management LLC boosted its position in American Electric Power Company Inc (NYSE:AEP) by 55.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 221,695 shares of the utilities provider’s stock after buying an additional 79,242 shares during the period. American Electric Power makes up about 1.1% of Verition Fund Management LLC’s holdings, making the stock its 7th biggest position. Verition Fund Management LLC’s holdings in American Electric Power were worth $15,206,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of AEP. JPMorgan Chase & Co. lifted its holdings in American Electric Power by 26.8% in the first quarter. JPMorgan Chase & Co. now owns 8,237,503 shares of the utilities provider’s stock valued at $565,010,000 after acquiring an additional 1,739,771 shares during the period. Wells Fargo & Company MN lifted its holdings in American Electric Power by 15.2% in the fourth quarter. Wells Fargo & Company MN now owns 11,555,836 shares of the utilities provider’s stock valued at $850,164,000 after acquiring an additional 1,526,465 shares during the period. BlackRock Inc. lifted its holdings in American Electric Power by 2.3% in the fourth quarter. BlackRock Inc. now owns 33,713,494 shares of the utilities provider’s stock valued at $2,480,302,000 after acquiring an additional 763,950 shares during the period. Franklin Resources Inc. lifted its holdings in American Electric Power by 11.0% in the first quarter. Franklin Resources Inc. now owns 4,616,073 shares of the utilities provider’s stock valued at $316,616,000 after acquiring an additional 458,881 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its holdings in American Electric Power by 262.1% in the first quarter. State of New Jersey Common Pension Fund D now owns 615,500 shares of the utilities provider’s stock valued at $42,217,000 after acquiring an additional 445,500 shares during the period. Hedge funds and other institutional investors own 72.32% of the company’s stock.

In related news, EVP Mark C. Mccullough sold 721 shares of the business’s stock in a transaction dated Friday, May 4th. The shares were sold at an average price of $69.63, for a total value of $50,203.23. Following the completion of the transaction, the executive vice president now owns 7,386 shares of the company’s stock, valued at approximately $514,287.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.16% of the company’s stock.

Several research firms have recently issued reports on AEP. KeyCorp lifted their price target on American Electric Power from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 18th. JPMorgan Chase & Co. cut their price target on American Electric Power from $70.00 to $69.00 and set a “neutral” rating for the company in a research note on Tuesday, April 10th. SunTrust Banks set a $76.00 price target on American Electric Power and gave the stock a “buy” rating in a research note on Monday, March 19th. Morgan Stanley lifted their price target on American Electric Power from $71.00 to $73.00 and gave the stock an “overweight” rating in a research note on Monday, April 16th. Finally, Guggenheim raised American Electric Power from a “sell” rating to a “neutral” rating in a research note on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $73.71.

Shares of American Electric Power opened at $63.81 on Thursday, Marketbeat Ratings reports. American Electric Power Company Inc has a twelve month low of $62.71 and a twelve month high of $78.07. The stock has a market capitalization of $30.99 billion, a P/E ratio of 17.47, a PEG ratio of 2.85 and a beta of 0.18. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.44 and a quick ratio of 0.34.

American Electric Power (NYSE:AEP) last announced its earnings results on Thursday, April 26th. The utilities provider reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.02). American Electric Power had a net margin of 11.41% and a return on equity of 9.93%. The firm had revenue of $4 billion during the quarter, compared to analyst estimates of $4 billion. During the same period in the previous year, the firm posted $0.96 EPS. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. analysts expect that American Electric Power Company Inc will post 3.88 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 8th. Investors of record on Thursday, May 10th were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend was Wednesday, May 9th. American Electric Power’s payout ratio is 67.39%.

American Electric Power Profile

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

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 & Ratings for American Electric Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Electric Power and related companies with MarketBeat.com's FREE daily email newsletter.