Commonwealth Equity Services LLC raised its stake in shares of American Electric Power Company Inc (NYSE:AEP) by 0.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 202,914 shares of the utilities provider’s stock after purchasing an additional 1,702 shares during the period. Commonwealth Equity Services LLC’s holdings in American Electric Power were worth $17,858,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of AEP. Geode Capital Management LLC boosted its stake in shares of American Electric Power by 8.0% in the fourth quarter. Geode Capital Management LLC now owns 5,942,257 shares of the utilities provider’s stock valued at $443,292,000 after purchasing an additional 438,632 shares during the period. Pictet Asset Management Ltd. raised its holdings in shares of American Electric Power by 1.0% during the first quarter. Pictet Asset Management Ltd. now owns 3,109,922 shares of the utilities provider’s stock worth $260,456,000 after purchasing an additional 29,898 shares during the period. California Public Employees Retirement System raised its holdings in shares of American Electric Power by 18.4% during the first quarter. California Public Employees Retirement System now owns 3,105,375 shares of the utilities provider’s stock worth $260,075,000 after purchasing an additional 481,496 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of American Electric Power by 6.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,106,930 shares of the utilities provider’s stock worth $176,455,000 after purchasing an additional 131,313 shares during the period. Finally, Swiss National Bank raised its holdings in shares of American Electric Power by 2.7% during the first quarter. Swiss National Bank now owns 2,014,289 shares of the utilities provider’s stock worth $168,697,000 after purchasing an additional 53,800 shares during the period. 73.53% of the stock is owned by hedge funds and other institutional investors.

Shares of AEP stock traded down $0.88 during trading hours on Tuesday, reaching $89.24. The stock had a trading volume of 131,192 shares, compared to its average volume of 1,914,716. The company has a quick ratio of 0.37, a current ratio of 0.49 and a debt-to-equity ratio of 1.19. American Electric Power Company Inc has a twelve month low of $68.13 and a twelve month high of $91.99. The company’s 50-day simple moving average is $89.84. The company has a market cap of $44.11 billion, a price-to-earnings ratio of 22.64, a PEG ratio of 3.85 and a beta of 0.16.

American Electric Power (NYSE:AEP) last released its earnings results on Thursday, April 25th. The utilities provider reported $1.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.09. American Electric Power had a net margin of 12.64% and a return on equity of 10.81%. The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.23 billion. During the same quarter last year, the company earned $0.96 EPS. American Electric Power’s quarterly revenue was up 2.5% on a year-over-year basis. Analysts predict that American Electric Power Company Inc will post 4.14 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.00%. American Electric Power’s dividend payout ratio is 67.85%.

A number of brokerages have weighed in on AEP. Goldman Sachs Group reissued a “neutral” rating and set a $393.00 target price on shares of Boeing in a report on Monday, April 8th. Zacks Investment Research raised shares of General Moly from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. KeyCorp began coverage on shares of Southern in a report on Tuesday, June 4th. They set a “sector weight” rating on the stock. Wolfe Research set a $205.00 target price on shares of Raytheon and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, Wells Fargo & Co set a $95.00 price objective on shares of Westinghouse Air Brake Technologies and gave the stock a “buy” rating in a report on Friday, April 26th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $84.71.

In other American Electric Power news, insider Lisa M. Barton sold 1,752 shares of American Electric Power stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $89.41, for a total transaction of $156,646.32. Following the sale, the insider now owns 34,460 shares in the company, valued at $3,081,068.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Paul Chodak III sold 1,303 shares of American Electric Power stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $86.52, for a total transaction of $112,735.56. Following the sale, the executive vice president now owns 8,152 shares in the company, valued at approximately $705,311.04. The disclosure for this sale can be found here. In the last three months, insiders sold 24,637 shares of company stock worth $2,112,145. Insiders own 0.16% of the company’s stock.

About American Electric Power

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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