M&T Bank Corp boosted its position in shares of American Electric Power Company, Inc. (NYSE:AEP) by 8.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 403,445 shares of the utilities provider’s stock after purchasing an additional 31,674 shares during the period. M&T Bank Corp owned approximately 0.08% of American Electric Power worth $28,027,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Chicago Partners Investment Group LLC raised its stake in American Electric Power by 0.3% during 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 during the period. Thompson Davis & CO. Inc. raised its stake in American Electric Power by 0.3% during 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 during the period. Jackson Grant Investment Advisers Inc. raised its stake in American Electric Power by 0.4% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 2,824 shares of the utilities provider’s stock worth $196,000 after purchasing an additional 12 shares during the period. Guardian Life Insurance Co. of America raised its stake in American Electric Power by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 1,897 shares of the utilities provider’s stock worth $127,000 after purchasing an additional 13 shares during the period. Finally, Alpha Windward LLC raised its stake in American Electric Power by 0.4% during the second quarter. Alpha Windward LLC now owns 3,131 shares of the utilities provider’s stock worth $218,000 after purchasing an additional 13 shares during the period. 71.20% of the stock is currently owned by institutional investors.

A number of equities analysts have commented on AEP shares. KeyCorp reaffirmed a “buy” rating and set a $73.00 target price on shares of American Electric Power in a research note on Friday, September 1st. Zacks Investment Research raised shares of American Electric Power from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Morgan Stanley boosted their price target on shares of 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. BidaskClub raised shares of American Electric Power from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $75.00 price target (up from $73.00) on shares of American Electric Power in a research note on Friday, July 28th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $72.23.

American Electric Power (NYSE:AEP) last posted its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.75 EPS for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the previous year, the business posted $0.95 EPS.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Thursday, August 10th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $2.36 annualized dividend and a yield of 3.29%. American Electric Power’s payout ratio is 203.45%.

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American Electric Power Company 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.

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

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