Kornitzer Capital Management Inc. KS boosted its position in American Electric Power Company, Inc. (NYSE:AEP) by 1.6% during the second quarter, Holdings Channel reports. The firm owned 18,499 shares of the utilities provider’s stock after buying an additional 300 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in American Electric Power were worth $1,285,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AEP. Vanguard Group Inc. increased its stake in shares of American Electric Power by 3.4% in the first quarter. Vanguard Group Inc. now owns 34,128,589 shares of the utilities provider’s stock worth $2,291,051,000 after buying an additional 1,124,366 shares during the period. BlackRock Inc. increased its stake in shares of American Electric Power by 2,394.3% in the first quarter. BlackRock Inc. now owns 33,819,821 shares of the utilities provider’s stock worth $2,270,326,000 after buying an additional 32,463,953 shares during the period. State Street Corp increased its stake in shares of American Electric Power by 0.6% in the first quarter. State Street Corp now owns 25,061,133 shares of the utilities provider’s stock worth $1,682,343,000 after buying an additional 153,485 shares during the period. Wells Fargo & Company MN increased its stake in shares of American Electric Power by 16.2% in the first quarter. Wells Fargo & Company MN now owns 7,668,864 shares of the utilities provider’s stock worth $514,810,000 after buying an additional 1,069,388 shares during the period. Finally, Pioneer Investment Management Inc. increased its stake in shares of American Electric Power by 14.2% in the first quarter. Pioneer Investment Management Inc. now owns 4,719,353 shares of the utilities provider’s stock worth $316,810,000 after buying an additional 585,220 shares during the period. 70.83% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Company, Inc. (NYSE:AEP) opened at 70.96 on Thursday. The firm has a market capitalization of $34.90 billion, a PE ratio of 61.07 and a beta of 0.30. The firm’s 50-day moving average is $69.93 and its 200-day moving average is $68.01. American Electric Power Company, Inc. has a 52-week low of $57.89 and a 52-week high of $72.97.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 10th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Tuesday, August 8th. American Electric Power’s dividend payout ratio (DPR) is presently 203.45%.

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AEP has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of American Electric Power from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. BidaskClub downgraded shares of American Electric Power from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Morgan Stanley reissued an “equal weight” rating on shares of American Electric Power in a report on Monday, July 10th. Jefferies Group LLC reissued a “hold” rating and set a $70.00 price target on shares of American Electric Power in a report on Wednesday, July 19th. Finally, Mizuho reissued a “buy” rating and set a $72.50 price target on shares of American Electric Power in a report on Wednesday, April 19th. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $72.09.

In related news, insider Paul Chodak III sold 1,110 shares of the stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $68.20, for a total transaction of $75,702.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is currently owned by corporate insiders.

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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