Klingenstein Fields & Co. LLC lowered its stake in shares of American Electric Power Company, Inc. (NYSE:AEP) by 2.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,965 shares of the utilities provider’s stock after selling 100 shares during the period. Klingenstein Fields & Co. LLC’s holdings in American Electric Power were worth $275,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Ledyard National Bank boosted its position in shares of American Electric Power by 52.6% in the second quarter. Ledyard National Bank now owns 1,450 shares of the utilities provider’s stock valued at $101,000 after buying an additional 500 shares in the last quarter. Point72 Asia Hong Kong Ltd purchased a new position in shares of American Electric Power during the first quarter valued at $105,000. Chicago Partners Investment Group LLC boosted its position in shares of 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 valued at $107,000 after buying an additional 5 shares in the last quarter. Zions Bancorporation boosted its position in shares of American Electric Power by 1.3% in the first quarter. Zions Bancorporation now owns 1,680 shares of the utilities provider’s stock valued at $113,000 after buying an additional 21 shares in the last quarter. Finally, Thompson Davis & CO. Inc. boosted its position in shares of 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 valued at $117,000 after buying an additional 6 shares in the last quarter. 70.83% of the stock is owned by institutional investors and hedge funds.

Shares of American Electric Power Company, Inc. (NYSE:AEP) opened at 70.96 on Thursday. The company has a 50-day moving average price of $69.93 and a 200 day moving average price of $68.01. American Electric Power Company, Inc. has a 52 week low of $57.89 and a 52 week high of $72.97. The stock has a market capitalization of $34.90 billion, a P/E ratio of 61.07 and a beta of 0.30.

American Electric Power (NYSE:AEP) last announced its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.75 EPS for the quarter, missing the Zacks’ 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 firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the previous year, the company posted $0.95 earnings per share. Analysts forecast that American Electric Power Company, Inc. will post $3.66 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders 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 3.33%. The ex-dividend date is Tuesday, August 8th. American Electric Power’s payout ratio is 203.45%.

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Several brokerages recently weighed in on AEP. BidaskClub raised American Electric Power from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Royal Bank Of Canada reaffirmed a “hold” rating and set a $71.00 target price on shares of American Electric Power in a research note on Wednesday, August 2nd. Zacks Investment Research upgraded American Electric Power from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. BMO Capital Markets reiterated 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, Jefferies Group LLC reiterated a “hold” rating and issued a $70.00 price target on shares of American Electric Power in a research report on Wednesday, July 19th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. American Electric Power has a consensus rating of “Hold” and an average target price of $72.09.

In other news, insider Paul Chodak III sold 1,110 shares of the 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.15% of the stock is currently owned by corporate 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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