Advisor Partners LLC raised its stake in American Electric Power Company, Inc. (NYSE:AEP) by 4.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,446 shares of the utilities provider’s stock after buying an additional 473 shares during the period. Advisor Partners LLC’s holdings in American Electric Power were worth $726,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. BlackRock Inc. increased its stake in shares of American Electric Power by 2,394.3% in the first quarter. BlackRock Inc. now owns 33,819,821 shares of the utilities provider’s stock valued at $2,270,326,000 after buying an additional 32,463,953 shares in the last quarter. Bank of Montreal Can increased its stake in shares of American Electric Power by 35.2% in the second quarter. Bank of Montreal Can now owns 4,366,510 shares of the utilities provider’s stock valued at $303,342,000 after buying an additional 1,137,941 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of American Electric Power by 3.4% in the first quarter. Vanguard Group Inc. now owns 34,128,589 shares of the utilities provider’s stock valued at $2,291,051,000 after buying an additional 1,124,366 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of American Electric Power by 16.2% in the first quarter. Wells Fargo & Company MN now owns 7,668,864 shares of the utilities provider’s stock valued at $514,810,000 after buying an additional 1,069,388 shares in the last quarter. Finally, Brookfield Asset Management Inc. acquired a new stake in shares of American Electric Power during the first quarter valued at $56,864,000. 70.77% of the stock is owned by institutional investors and hedge funds.

Shares of American Electric Power Company, Inc. (NYSE:AEP) opened at 71.05 on Tuesday. The stock has a 50 day moving average price of $69.85 and a 200-day moving average price of $68.23. The stock has a market capitalization of $34.95 billion, a PE ratio of 61.14 and a beta of 0.30. American Electric Power Company, Inc. has a 52-week low of $57.89 and a 52-week high of $72.97.

American Electric Power (NYSE:AEP) last posted its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.75 EPS for the quarter, missing the consensus estimate of $0.82 by $0.07. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.70 billion. American Electric Power had a net margin of 3.60% and a return on equity of 10.32%. During the same period in the prior year, the business earned $0.95 earnings per share. On average, equities research analysts anticipate that American Electric Power Company, Inc. will post $3.66 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 10th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $2.36 annualized dividend and a dividend yield of 3.32%. American Electric Power’s dividend payout ratio is currently 203.45%.

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AEP has been the subject of several recent analyst reports. Jefferies Group LLC raised their price target on American Electric Power from $68.00 to $70.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Zacks Investment Research downgraded American Electric Power from a “hold” rating to a “sell” rating in a report on Friday, April 28th. Barclays PLC reaffirmed an “overweight” rating and set a $76.00 target price (up previously from $71.00) on shares of American Electric Power in a report on Sunday, April 23rd. Mizuho reaffirmed a “buy” rating and set a $72.50 target price on shares of American Electric Power in a report on Wednesday, April 19th. Finally, BidaskClub downgraded American Electric Power from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $72.17.

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.

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

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