BB&T Investment Services Inc. purchased a new stake in shares of American Electric Power Company, Inc. (NYSE:AEP) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,046 shares of the utilities provider’s stock, valued at approximately $760,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ledyard National Bank lifted its position in shares of American Electric Power by 52.6% during the 2nd quarter. Ledyard National Bank now owns 1,450 shares of the utilities provider’s stock valued at $101,000 after buying an additional 500 shares during the last quarter. Point72 Asia Hong Kong Ltd purchased a new position in shares of American Electric Power during the 1st quarter valued at $105,000. Chicago Partners Investment Group LLC lifted its position in shares of American Electric Power by 0.3% during the 1st quarter. Chicago Partners Investment Group LLC now owns 1,599 shares of the utilities provider’s stock valued at $107,000 after buying an additional 5 shares during the last quarter. Smithfield Trust Co. lifted its position in shares of American Electric Power by 8.1% during the 2nd quarter. Smithfield Trust Co. now owns 1,677 shares of the utilities provider’s stock valued at $117,000 after buying an additional 125 shares during the last quarter. Finally, Zions Bancorporation lifted its position in shares of American Electric Power by 1.3% during the 1st quarter. Zions Bancorporation now owns 1,680 shares of the utilities provider’s stock valued at $113,000 after buying an additional 21 shares during the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

Shares of American Electric Power Company, Inc. (NYSE:AEP) traded up 0.2890% during trading on Wednesday, reaching $72.5992. The company’s stock had a trading volume of 786,954 shares. The company has a market cap of $35.71 billion, a PE ratio of 62.5855 and a beta of 0.28. The company has a 50 day moving average of $72.41 and a 200 day moving average of $70.30. 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 data on Thursday, July 27th. The utilities provider reported $0.75 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.07). American Electric Power had a net margin of 3.60% and a return on equity of 10.32%. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the previous year, the firm earned $0.95 earnings per share. On average, analysts anticipate that American Electric Power Company, Inc. will post $3.65 EPS for the current fiscal year.

A number of research analysts have recently commented on the company. BidaskClub cut American Electric Power from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) cut American Electric Power from a “buy” rating to a “neutral” rating and upped their price target for the company from $68.00 to $70.00 in a research report on Monday, June 26th. Jefferies Group LLC reaffirmed a “hold” rating and set a $70.00 price target on shares of American Electric Power in a research report on Wednesday, July 19th. Zacks Investment Research cut American Electric Power from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of American Electric Power in a research report on Monday, July 10th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. American Electric Power presently has an average rating of “Hold” and a consensus target price of $72.89.

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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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