Edgestream Partners L.P. cut its stake in American Electric Power Company Inc (NYSE:AEP) by 32.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,065 shares of the utilities provider’s stock after selling 13,990 shares during the quarter. Edgestream Partners L.P.’s holdings in American Electric Power were worth $2,013,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. NuWave Investment Management LLC raised its position in shares of American Electric Power by 977.2% in the first quarter. NuWave Investment Management LLC now owns 1,465 shares of the utilities provider’s stock valued at $101,000 after purchasing an additional 1,329 shares during the period. First Quadrant L P CA bought a new position in American Electric Power during the second quarter worth about $118,000. Optimum Investment Advisors bought a new position in American Electric Power during the first quarter worth about $141,000. Jacobi Capital Management LLC increased its position in American Electric Power by 367.9% during the first quarter. Jacobi Capital Management LLC now owns 2,438 shares of the utilities provider’s stock worth $166,000 after acquiring an additional 1,917 shares during the period. Finally, Bristol John W & Co. Inc. NY bought a new position in American Electric Power during the first quarter worth about $168,000. 73.02% of the stock is currently owned by institutional investors.

AEP stock opened at $71.55 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.40 and a current ratio of 0.50. American Electric Power Company Inc has a 12 month low of $62.71 and a 12 month high of $78.07. The stock has a market capitalization of $34.87 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 3.25 and a beta of 0.16.

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

The company also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Friday, August 10th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Thursday, August 9th. American Electric Power’s dividend payout ratio is currently 67.39%.

AEP has been the topic of a number of recent research reports. Scotiabank initiated coverage on shares of American Electric Power in a research report on Tuesday, July 24th. They set a “hold” rating and a $72.00 price target on the stock. Zacks Investment Research lowered shares of American Electric Power from a “hold” rating to a “sell” rating in a research report on Wednesday, June 27th. Howard Weil initiated coverage on shares of American Electric Power in a research report on Tuesday, July 24th. They set a “sector perform” rating and a $72.00 price target on the stock. KeyCorp raised their price target on shares of American Electric Power from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, July 19th. Finally, Morgan Stanley lowered their price target on shares of American Electric Power from $71.00 to $67.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 13th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $75.44.

American Electric Power Profile

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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