American Century Companies Inc. reduced its stake in shares of American Electric Power Company, Inc. (NYSE:AEP) by 11.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 358,602 shares of the utilities provider’s stock after selling 46,720 shares during the period. American Century Companies Inc. owned about 0.07% of American Electric Power worth $24,912,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of AEP. Ledyard National Bank raised its position in American Electric Power by 52.6% in the second quarter. Ledyard National Bank now owns 1,450 shares of the utilities provider’s stock valued at $101,000 after buying an additional 500 shares during the period. Point72 Asia Hong Kong Ltd acquired a new position in American Electric Power during the first quarter valued at approximately $105,000. Chicago Partners Investment Group LLC raised its position in American Electric Power by 0.3% in the first quarter. Chicago Partners Investment Group LLC now owns 1,599 shares of the utilities provider’s stock valued at $107,000 after buying an additional 5 shares during the period. Smithfield Trust Co. raised its position in American Electric Power by 8.1% in the second quarter. Smithfield Trust Co. now owns 1,677 shares of the utilities provider’s stock valued at $117,000 after buying an additional 125 shares during the period. Finally, Zions Bancorporation raised its position in American Electric Power by 1.3% in the first quarter. Zions Bancorporation now owns 1,680 shares of the utilities provider’s stock valued at $113,000 after buying an additional 21 shares during the period. 71.20% of the stock is owned by institutional investors and hedge funds.

Shares of American Electric Power Company, Inc. (NYSE:AEP) opened at 73.63 on Friday. The company has a market capitalization of $36.21 billion, a P/E ratio of 63.36 and a beta of 0.30. The firm’s 50 day moving average is $71.08 and its 200-day moving average is $69.03. American Electric Power Company, Inc. has a 52-week low of $57.89 and a 52-week high of $73.95.

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

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 10th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Tuesday, August 8th. American Electric Power’s dividend payout ratio is currently 203.45%.

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Several research firms have recently commented on AEP. Morgan Stanley lifted their price target on shares of American Electric Power from $71.00 to $73.00 and gave the company an “equal weight” rating in a report on Thursday, August 10th. Royal Bank Of Canada reissued a “hold” rating and set a $71.00 target price on shares of American Electric Power in a research note on Wednesday, August 2nd. BidaskClub raised shares of American Electric Power from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. BMO Capital Markets reissued an “outperform” rating and set a $75.00 target price (up from $73.00) on shares of American Electric Power in a research note on Friday, July 28th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $70.00 target price on shares of American Electric Power in a research note on Wednesday, July 19th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target 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.

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

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