HL Financial Services LLC boosted its stake in shares of American Electric Power Company, Inc. (NYSE:AEP) by 3.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 84,986 shares of the utilities provider’s stock after buying an additional 2,915 shares during the period. HL Financial Services LLC’s holdings in American Electric Power were worth $5,904,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Brookfield Asset Management Inc. bought a new position in American Electric Power during the first quarter valued at $56,864,000. Peapack Gladstone Financial Corp raised its position in American Electric Power by 2.5% in the first quarter. Peapack Gladstone Financial Corp now owns 8,295 shares of the utilities provider’s stock valued at $557,000 after buying an additional 200 shares during the last quarter. Bank of The Ozarks raised its position in American Electric Power by 1.0% in the first quarter. Bank of The Ozarks now owns 6,561 shares of the utilities provider’s stock valued at $441,000 after buying an additional 68 shares during the last quarter. ST Germain D J Co. Inc. raised its position in American Electric Power by 0.6% in the first quarter. ST Germain D J Co. Inc. now owns 5,416 shares of the utilities provider’s stock valued at $364,000 after buying an additional 34 shares during the last quarter. Finally, Cambridge Trust Co. raised its position in American Electric Power by 60.3% in the first quarter. Cambridge Trust Co. now owns 6,340 shares of the utilities provider’s stock valued at $426,000 after buying an additional 2,385 shares during the last quarter. 70.77% of the stock is currently owned by hedge funds and other institutional investors.

Shares of American Electric Power Company, Inc. (NYSE AEP) opened at 71.52 on Wednesday. The firm has a market cap of $35.18 billion, a price-to-earnings ratio of 61.55 and a beta of 0.30. American Electric Power Company, Inc. has a 52-week low of $57.89 and a 52-week high of $72.97. The stock’s 50 day moving average price is $69.84 and its 200-day moving average price is $68.29.

American Electric Power (NYSE:AEP) last announced its earnings results on Thursday, July 27th. The utilities provider reported $0.75 EPS for the quarter, missing the 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 for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the previous year, the company earned $0.95 EPS. On average, 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. Investors of record on Thursday, August 10th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, August 8th. This represents a $2.36 annualized dividend and a dividend yield of 3.30%. American Electric Power’s payout ratio is 203.45%.

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AEP has been the topic of several analyst reports. Zacks Investment Research raised American Electric Power from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Morgan Stanley increased their target price on American Electric Power from $71.00 to $73.00 and gave the company an “equal weight” rating in a research note on Thursday, August 10th. Barclays PLC reissued an “overweight” rating and issued a $76.00 target price (up previously from $71.00) on shares of American Electric Power in a research note on Sunday, April 23rd. BMO Capital Markets reissued an “outperform” rating and issued a $75.00 target price (up previously from $73.00) on shares of American Electric Power in a research note on Friday, July 28th. Finally, BidaskClub lowered American Electric Power from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. American Electric Power currently has an average rating of “Hold” and an average 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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