Alps Advisors Inc. raised its stake in shares of American Electric Power Company Inc (NYSE:AEP) by 75.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,205 shares of the utilities provider’s stock after acquiring an additional 5,234 shares during the quarter. Alps Advisors Inc.’s holdings in American Electric Power were worth $845,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of AEP. JPMorgan Chase & Co. raised its holdings in shares of 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 buying an additional 1,739,771 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of American Electric Power by 25.4% in the second quarter. Jennison Associates LLC now owns 4,308,696 shares of the utilities provider’s stock valued at $298,377,000 after buying an additional 872,838 shares during the last quarter. BlackRock Inc. raised its holdings in shares of American Electric Power by 1.7% in the first quarter. BlackRock Inc. now owns 34,274,267 shares of the utilities provider’s stock valued at $2,350,874,000 after buying an additional 560,773 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of 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 buying an additional 458,881 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its holdings in shares of 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 buying an additional 445,500 shares during the last quarter. 72.52% of the stock is owned by institutional investors.

A number of research analysts recently issued reports on the company. Morgan Stanley lifted their price target on American Electric Power from $73.00 to $76.00 and gave the company an “overweight” rating in a report on Friday, July 27th. Mizuho reaffirmed a “buy” rating and issued a $74.50 price target on shares of American Electric Power in a report on Friday, July 27th. Goldman Sachs Group upgraded American Electric Power from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $76.00 to $74.00 in a research report on Thursday, July 19th. Zacks Investment Research upgraded American Electric Power from a “sell” rating to a “hold” rating and set a $79.00 price objective for the company in a research report on Thursday, July 12th. Finally, KeyCorp lifted their price objective on American Electric Power from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, July 19th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. American Electric Power has a consensus rating of “Buy” and an average price target of $75.44.

Shares of AEP stock opened at $72.26 on Wednesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.50 and a quick ratio of 0.40. The stock has a market capitalization of $35.36 billion, a P/E ratio of 19.64, a PEG ratio of 3.29 and a beta of 0.09. American Electric Power Company Inc has a 12 month low of $62.71 and a 12 month high of $78.07.

American Electric Power (NYSE:AEP) last announced its quarterly earnings data on Wednesday, July 25th. The utilities provider reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.13. The firm had revenue of $4 billion during the quarter, compared to analyst estimates of $3.85 billion. American Electric Power had a return on equity of 10.50% and a net margin of 12.09%. The company’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the company earned $0.75 earnings per share. equities analysts anticipate that American Electric Power Company Inc will post 3.89 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Friday, August 10th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, August 9th. This represents a $2.48 annualized dividend and a dividend yield of 3.43%. American Electric Power’s payout ratio is currently 67.39%.

About American Electric Power

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.

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

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