Amundi Pioneer Asset Management Inc. lowered its holdings in shares of American Electric Power Company Inc (NYSE:AEP) by 9.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,849,263 shares of the utilities provider’s stock after selling 511,300 shares during the period. American Electric Power makes up about 1.1% of Amundi Pioneer Asset Management Inc.’s holdings, making the stock its 25th biggest position. Amundi Pioneer Asset Management Inc. owned 0.99% of American Electric Power worth $340,612,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in American Electric Power by 2.5% in the second quarter. Vanguard Group Inc. now owns 34,987,758 shares of the utilities provider’s stock worth $2,430,599,000 after acquiring an additional 859,169 shares in the last quarter. Capital Research Global Investors boosted its holdings in American Electric Power by 223.4% in the second quarter. Capital Research Global Investors now owns 10,110,731 shares of the utilities provider’s stock worth $702,392,000 after acquiring an additional 6,983,864 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in American Electric Power by 1.3% in the second quarter. Wells Fargo & Company MN now owns 7,769,068 shares of the utilities provider’s stock worth $539,718,000 after acquiring an additional 100,204 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in American Electric Power by 3.7% in the second quarter. Alliancebernstein L.P. now owns 6,350,925 shares of the utilities provider’s stock worth $441,199,000 after acquiring an additional 224,199 shares in the last quarter. Finally, Pioneer Investment Management Inc. boosted its holdings in American Electric Power by 13.6% in the second quarter. Pioneer Investment Management Inc. now owns 5,360,563 shares of the utilities provider’s stock worth $372,398,000 after acquiring an additional 641,210 shares in the last quarter. 71.29% of the stock is owned by institutional investors and hedge funds.

Shares of American Electric Power Company Inc (NYSE AEP) opened at $76.47 on Monday. The company has a current ratio of 0.56, a quick ratio of 0.43 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $37,614.45, a P/E ratio of 21.97, a P/E/G ratio of 4.45 and a beta of 0.29. American Electric Power Company Inc has a 52-week low of $57.89 and a 52-week high of $77.93.

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

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 10th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.24%. This is an increase from American Electric Power’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Thursday, November 9th. American Electric Power’s dividend payout ratio (DPR) is presently 64.92%.

Several research analysts have issued reports on AEP shares. BidaskClub upgraded American Electric Power from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Royal Bank Of Canada reiterated a “hold” rating and issued a $71.00 price target on shares of American Electric Power in a report on Wednesday, August 2nd. Morgan Stanley raised their target price on American Electric Power from $71.00 to $73.00 and gave the company an “equal weight” rating in a report on Thursday, August 10th. KeyCorp restated a “buy” rating and issued a $73.00 target price on shares of American Electric Power in a report on Friday, September 1st. Finally, Mizuho lowered American Electric Power from a “buy” rating to a “neutral” rating and dropped their target price for the company from $74.00 to $73.00 in a report on Friday, September 22nd. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $73.91.

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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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