Good Life Advisors LLC cut its position in shares of American Electric Power Company, Inc. (NYSE:AEP) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,404 shares of the utilities provider’s stock after selling 109 shares during the period. Good Life Advisors LLC’s holdings in American Electric Power were worth $308,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position 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 last quarter. BlackRock Inc. increased its position 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 last quarter. State Street Corp increased its position 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 last quarter. Wells Fargo & Company MN increased its position 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 last quarter. Finally, Pioneer Investment Management Inc. increased its position in shares of American Electric Power by 13.6% in the second quarter. Pioneer Investment Management Inc. now owns 5,360,563 shares of the utilities provider’s stock worth $372,398,000 after buying an additional 641,210 shares during the last quarter. Institutional investors own 71.20% of the company’s stock.

Shares of American Electric Power Company, Inc. (AEP) traded up 0.04% during trading on Wednesday, hitting $73.97. The stock had a trading volume of 192,874 shares. The stock has a market cap of $36.38 billion, a price-to-earnings ratio of 63.66 and a beta of 0.30. The stock’s 50-day moving average price is $70.54 and its 200 day moving average price is $68.74. American Electric Power Company, Inc. has a one year low of $57.89 and a one year high of $74.00.

American Electric Power (NYSE:AEP) last announced its quarterly earnings results 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 company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.70 billion. American Electric Power had a net margin of 3.60% and a return on equity of 10.32%. During the same period last year, the firm posted $0.95 earnings per share. On average, equities analysts forecast that American Electric Power Company, Inc. will post $3.66 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 10th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Tuesday, August 8th. American Electric Power’s payout ratio is 203.45%.

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AEP has been the subject of a number of research reports. Zacks Investment Research upgraded American Electric Power from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. BidaskClub downgraded American Electric Power from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Morgan Stanley restated an “equal weight” rating on shares of American Electric Power in a research note on Monday, July 10th. Jefferies Group LLC restated a “hold” rating and issued a $70.00 target price on shares of American Electric Power in a research note on Wednesday, July 19th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $75.00 target price (up from $73.00) on shares of American Electric Power in a research note on Friday, July 28th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $72.17.

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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