Cornerstone Capital Management Holdings LLC. grew its stake in American Electric Power Company, Inc. (NYSE:AEP) by 54.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 239,820 shares of the utilities provider’s stock after acquiring an additional 84,805 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in American Electric Power were worth $16,659,000 at the end of the most recent quarter.

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

Shares of American Electric Power Company, Inc. (AEP) traded up 0.06% during mid-day trading on Friday, reaching $71.53. The company’s stock had a trading volume of 1,813,636 shares. The company’s 50-day moving average is $72.43 and its 200-day moving average is $70.19. American Electric Power Company, Inc. has a 52 week low of $57.89 and a 52 week high of $74.59. The stock has a market capitalization of $35.18 billion, a price-to-earnings ratio of 61.56 and a beta of 0.28.

American Electric Power (NYSE:AEP) last issued its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.07). The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the business posted $0.95 EPS. Equities analysts predict that American Electric Power Company, Inc. will post $3.65 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Thursday, August 10th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 3.30%. The ex-dividend date was Tuesday, August 8th. American Electric Power’s payout ratio is 203.45%.

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A number of research analysts have recently issued reports on AEP shares. KeyCorp reiterated a “buy” rating and issued a $73.00 price target on shares of American Electric Power in a report on Friday, September 1st. Zacks Investment Research upgraded American Electric Power from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Morgan Stanley boosted their target price on American Electric Power from $71.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 10th. Mizuho downgraded American Electric Power from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $74.00 to $73.00 in a research note on Friday, September 22nd. Finally, BidaskClub upgraded American Electric Power from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $72.89.

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.

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Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

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