First National Bank Sioux Falls continued to hold its stake in American Electric Power Company, Inc. (NYSE:AEP) during the second quarter, Holdings Channel reports. The fund owned 3,516 shares of the utilities provider’s stock at the end of the second quarter. First National Bank Sioux Falls’ holdings in American Electric Power were worth $244,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Sei Investments Co. boosted its stake in American Electric Power by 17.0% in the second quarter. Sei Investments Co. now owns 107,076 shares of the utilities provider’s stock valued at $7,439,000 after buying an additional 15,564 shares during the last quarter. Enterprise Financial Services Corp boosted its stake in American Electric Power by 7.2% in the second quarter. Enterprise Financial Services Corp now owns 1,798 shares of the utilities provider’s stock valued at $125,000 after buying an additional 120 shares during the last quarter. Barry Investment Advisors LLC boosted its stake in American Electric Power by 0.4% in the second quarter. Barry Investment Advisors LLC now owns 4,187 shares of the utilities provider’s stock valued at $291,000 after buying an additional 17 shares during the last quarter. Cadence Bank NA boosted its stake in American Electric Power by 13.3% in the second quarter. Cadence Bank NA now owns 19,542 shares of the utilities provider’s stock valued at $1,358,000 after buying an additional 2,300 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in American Electric Power by 2.6% in the second quarter. Daiwa Securities Group Inc. now owns 15,550 shares of the utilities provider’s stock valued at $1,080,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 70.83% of the company’s stock.

American Electric Power Company, Inc. (AEP) opened at 70.56 on Friday. American Electric Power Company, Inc. has a 1-year low of $57.89 and a 1-year high of $72.97. The firm’s 50-day moving average is $69.86 and its 200 day moving average is $68.09. The stock has a market capitalization of $34.70 billion, a price-to-earnings ratio of 60.72 and a beta of 0.30.

American Electric Power (NYSE:AEP) last issued its earnings results on Thursday, July 27th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same period last year, the business earned $0.95 earnings per share. Equities analysts anticipate that American Electric Power Company, Inc. will post $3.66 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 10th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Tuesday, August 8th. American Electric Power’s dividend payout ratio (DPR) is presently 203.45%.

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Several equities research analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of American Electric Power from $71.00 to $73.00 and gave the company an “equal weight” rating in a research report on Thursday. Royal Bank Of Canada reiterated a “hold” rating and set a $71.00 price objective on shares of American Electric Power in a research report on Wednesday, August 2nd. BidaskClub upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. BMO Capital Markets restated an “outperform” rating and issued a $75.00 price target (up previously from $73.00) on shares of American Electric Power in a research report on Friday, July 28th. Finally, Zacks Investment Research upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $72.17.

In other American Electric Power news, insider Paul Chodak III sold 1,110 shares of the firm’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $68.20, for a total value of $75,702.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is owned by company insiders.

About American Electric Power

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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