HighTower Advisors LLC boosted its position in American Electric Power Company, Inc. (NYSE:AEP) by 10.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 104,631 shares of the utilities provider’s stock after purchasing an additional 9,655 shares during the quarter. HighTower Advisors LLC’s holdings in American Electric Power were worth $7,278,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AEP. Ledyard National Bank raised its holdings in American Electric Power by 52.6% in the second quarter. Ledyard National Bank now owns 1,450 shares of the utilities provider’s stock worth $101,000 after purchasing an additional 500 shares in the last quarter. Point72 Asia Hong Kong Ltd bought a new position in American Electric Power in the first quarter worth $105,000. Chicago Partners Investment Group LLC raised its holdings in American Electric Power by 0.3% in the first quarter. Chicago Partners Investment Group LLC now owns 1,599 shares of the utilities provider’s stock worth $107,000 after purchasing an additional 5 shares in the last quarter. Zions Bancorporation raised its holdings in American Electric Power by 1.3% in the first quarter. Zions Bancorporation now owns 1,680 shares of the utilities provider’s stock worth $113,000 after purchasing an additional 21 shares in the last quarter. Finally, Thompson Davis & CO. Inc. raised its holdings in American Electric Power by 0.3% in the first quarter. Thompson Davis & CO. Inc. now owns 1,741 shares of the utilities provider’s stock worth $117,000 after purchasing an additional 6 shares in the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

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A number of equities analysts have issued reports on AEP shares. KeyCorp reiterated a “buy” rating and issued a $73.00 price objective on shares of American Electric Power in a report on Friday, September 1st. Royal Bank Of Canada reiterated a “hold” rating and issued a $71.00 price objective on shares of American Electric Power in a report on Monday, September 4th. Morgan Stanley reiterated an “equal weight” rating on shares of American Electric Power in a report on Friday, September 8th. Zacks Investment Research upgraded American Electric Power from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Finally, BidaskClub upgraded American Electric Power from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. American Electric Power presently has an average rating of “Hold” and an average price target of $71.90.

Shares of American Electric Power Company, Inc. (NYSE:AEP) traded down 0.37% during trading on Friday, hitting $70.24. The stock had a trading volume of 1,624,873 shares. American Electric Power Company, Inc. has a 12 month low of $57.89 and a 12 month high of $74.59. The stock has a 50-day moving average price of $72.53 and a 200 day moving average price of $69.78. The company has a market cap of $34.55 billion, a P/E ratio of 60.45 and a beta of 0.29.

American Electric Power (NYSE:AEP) last issued its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.07). The company 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 quarter last year, the company earned $0.95 earnings per share. Equities analysts expect that American Electric Power Company, Inc. will post $3.65 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Thursday, August 10th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date was Tuesday, August 8th. American Electric Power’s dividend payout ratio (DPR) is currently 203.45%.

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.

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

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