Quantitative Investment Management LLC cut its stake in American Electric Power Company, Inc. (NYSE:AEP) by 36.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 103,300 shares of the utilities provider’s stock after selling 60,500 shares during the period. Quantitative Investment Management LLC’s holdings in American Electric Power were worth $7,176,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Mutual of America Capital Management LLC lifted its holdings in American Electric Power by 0.8% in the second quarter. Mutual of America Capital Management LLC now owns 59,974 shares of the utilities provider’s stock worth $4,166,000 after buying an additional 472 shares during the period. Teachers Insurance & Annuity Association of America lifted its holdings in American Electric Power by 8.0% in the second quarter. Teachers Insurance & Annuity Association of America now owns 124,400 shares of the utilities provider’s stock worth $8,642,000 after buying an additional 9,200 shares during the period. Magellan Asset Management Ltd lifted its holdings in American Electric Power by 12.2% in the second quarter. Magellan Asset Management Ltd now owns 269,675 shares of the utilities provider’s stock worth $18,734,000 after buying an additional 29,319 shares during the period. ProShare Advisors LLC lifted its holdings in American Electric Power by 0.4% in the second quarter. ProShare Advisors LLC now owns 78,228 shares of the utilities provider’s stock worth $5,434,000 after buying an additional 281 shares during the period. Finally, Profund Advisors LLC lifted its holdings in American Electric Power by 32.0% in the second quarter. Profund Advisors LLC now owns 51,655 shares of the utilities provider’s stock worth $3,588,000 after buying an additional 12,528 shares during the period. Institutional investors and hedge funds own 71.20% of the company’s stock.

Shares of American Electric Power Company, Inc. (NYSE AEP) opened at 70.57 on Friday. The company’s 50 day moving average is $72.53 and its 200 day moving average is $69.78. The company has a market cap of $34.71 billion, a P/E ratio of 60.73 and a beta of 0.29. American Electric Power Company, Inc. has a 12 month low of $57.89 and a 12 month high of $74.59.

American Electric Power (NYSE:AEP) last announced its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.75 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same period in the previous year, the company posted $0.95 EPS. On average, equities research analysts predict that American Electric Power Company, Inc. will post $3.65 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Thursday, August 10th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $2.36 annualized dividend and a dividend yield of 3.34%. American Electric Power’s payout ratio is presently 203.45%.

Several analysts have commented on AEP shares. BidaskClub upgraded shares of American Electric Power from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. KeyCorp restated a “buy” rating and issued a $73.00 price objective on shares of American Electric Power in a report on Friday, September 1st. Morgan Stanley restated an “equal weight” rating on shares of American Electric Power in a report on Monday, July 10th. Royal Bank Of Canada restated a “hold” rating and issued a $71.00 price objective on shares of American Electric Power in a report on Wednesday, August 2nd. Finally, Zacks Investment Research upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $72.27.

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American Electric Power 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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