Toronto Dominion Bank lifted its holdings in shares of American Electric Power Company, Inc. (NYSE:AEP) by 12.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 186,632 shares of the utilities provider’s stock after buying an additional 19,990 shares during the period. Toronto Dominion Bank’s holdings in American Electric Power were worth $13,108,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AEP. Ledyard National Bank grew its position in American Electric Power by 52.6% in the 2nd quarter. Ledyard National Bank now owns 1,450 shares of the utilities provider’s stock worth $101,000 after purchasing an additional 500 shares during the last quarter. Point72 Asia Hong Kong Ltd bought a new position in American Electric Power in the 1st quarter worth about $105,000. Zions Bancorporation grew its position in American Electric Power by 1.3% in the 1st quarter. Zions Bancorporation now owns 1,680 shares of the utilities provider’s stock worth $113,000 after purchasing an additional 21 shares during the last quarter. Smithfield Trust Co. grew its position in American Electric Power by 8.1% in the 2nd quarter. Smithfield Trust Co. now owns 1,677 shares of the utilities provider’s stock worth $117,000 after purchasing an additional 125 shares during the last quarter. Finally, Thompson Davis & CO. Inc. grew its position in American Electric Power by 0.3% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,747 shares of the utilities provider’s stock worth $121,000 after purchasing an additional 6 shares during the last quarter. 71.37% of the stock is owned by institutional investors and hedge funds.

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Several research firms have commented on AEP. ValuEngine upgraded shares of American Electric Power from a “hold” rating to a “buy” rating in a research report on Tuesday. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $74.00 price target on shares of American Electric Power in a research note on Monday, October 30th. Bank of America Corporation initiated coverage on shares of American Electric Power in a research note on Tuesday, October 24th. They issued a “buy” rating and a $79.00 price target for the company. Morgan Stanley reaffirmed an “equal weight” rating on shares of American Electric Power in a research note on Friday, September 8th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $73.00 price target on shares of American Electric Power in a research note on Friday, September 1st. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $73.91.

Shares of American Electric Power Company, Inc. (NYSE AEP) traded down $0.61 during trading hours on Wednesday, hitting $76.78. 357,578 shares of the company traded hands, compared to its average volume of 2,327,832. The company has a current ratio of 0.56, a quick ratio of 0.43 and a debt-to-equity ratio of 1.01. The stock has a market cap of $38,070.00, a P/E ratio of 21.88, a PEG ratio of 4.43 and a beta of 0.29. American Electric Power Company, Inc. has a fifty-two week low of $57.89 and a fifty-two week high of $77.44.

American Electric Power (NYSE:AEP) last issued its quarterly earnings results on Thursday, October 26th. The utilities provider reported $1.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by ($0.06). The firm had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.42 billion. American Electric Power had a net margin of 12.21% and a return on equity of 9.67%. The firm’s revenue was down 12.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.30 EPS. sell-side analysts predict that American Electric Power Company, Inc. will post 3.62 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 10th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Thursday, November 9th. This is an increase from American Electric Power’s previous quarterly dividend of $0.59. American Electric Power’s dividend payout ratio is 64.75%.

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.

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

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