Steward Partners Investment Advisory LLC purchased a new position in shares of American Electric Power Company Inc (NYSE:AEP) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,823 shares of the utilities provider’s stock, valued at approximately $268,000.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of American Electric Power by 2.5% during the 2nd 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 last quarter. Capital Research Global Investors increased its position in shares of American Electric Power by 223.4% during the 2nd 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 last quarter. Wells Fargo & Company MN increased its position in shares of American Electric Power by 29.1% during the 3rd quarter. Wells Fargo & Company MN now owns 10,029,371 shares of the utilities provider’s stock worth $704,464,000 after purchasing an additional 2,260,303 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of American Electric Power by 70.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,696,615 shares of the utilities provider’s stock worth $472,110,000 after purchasing an additional 2,762,164 shares during the last quarter. Finally, Alliancebernstein L.P. increased 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. 71.04% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Company Inc (NYSE AEP) opened at $74.51 on Wednesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.43 and a current ratio of 0.56. The firm has a market capitalization of $37,137.35, a P/E ratio of 21.69, a P/E/G ratio of 4.40 and a beta of 0.30. American Electric Power Company Inc has a 1-year low of $61.82 and a 1-year high of $78.07.

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

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, November 10th were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.33%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Thursday, November 9th. American Electric Power’s dividend payout ratio is currently 64.92%.

AEP has been the topic of several recent analyst reports. KeyCorp reaffirmed a “buy” rating and set a $73.00 price target on shares of American Electric Power in a research report on Friday, September 1st. Royal Bank of Canada reissued a “hold” rating and set a $71.00 target price on shares of American Electric Power in a report on Monday, September 4th. Morgan Stanley reissued an “equal weight” rating on shares of American Electric Power in a report on Friday, September 8th. BidaskClub raised American Electric Power from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Finally, ValuEngine raised American Electric Power from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. American Electric Power currently has an average rating of “Hold” and an average price target of $74.82.

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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.

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

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