World Asset Management Inc decreased its stake in American Electric Power Company, Inc. (NYSE:AEP) by 12.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 45,471 shares of the utilities provider’s stock after selling 6,562 shares during the period. World Asset Management Inc’s holdings in American Electric Power were worth $3,159,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cadence Bank NA increased its position in American Electric Power by 13.3% in the second quarter. Cadence Bank NA now owns 19,542 shares of the utilities provider’s stock valued at $1,358,000 after buying an additional 2,300 shares during the period. Daiwa Securities Group Inc. increased its position in American Electric Power by 2.6% in the second quarter. Daiwa Securities Group Inc. now owns 15,550 shares of the utilities provider’s stock valued at $1,080,000 after buying an additional 400 shares during the period. Majedie Asset Management Ltd increased its position in American Electric Power by 89.2% in the second quarter. Majedie Asset Management Ltd now owns 171,710 shares of the utilities provider’s stock valued at $11,929,000 after buying an additional 80,972 shares during the period. Grove Bank & Trust increased its position in American Electric Power by 3.7% in the second quarter. Grove Bank & Trust now owns 6,078 shares of the utilities provider’s stock valued at $422,000 after buying an additional 219 shares during the period. Finally, Telos Capital Management Inc. increased its position in American Electric Power by 0.7% in the second quarter. Telos Capital Management Inc. now owns 12,641 shares of the utilities provider’s stock valued at $878,000 after buying an additional 91 shares during the period. 70.83% of the stock is currently owned by hedge funds and other institutional investors.

Shares of American Electric Power Company, Inc. (NYSE AEP) opened at 70.56 on Friday. The company has a market cap of $34.70 billion, a PE ratio of 60.72 and a beta of 0.30. The company has a 50-day moving average of $69.86 and a 200 day moving average of $68.09. American Electric Power Company, Inc. has a 12-month low of $57.89 and a 12-month high of $72.97.

American Electric Power (NYSE:AEP) last released its earnings results 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. American Electric Power had a return on equity of 10.32% and a net margin of 3.60%. 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 earned $0.95 EPS. On average, equities research analysts expect 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. Shareholders of record on Thursday, August 10th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $2.36 dividend on an annualized basis and a yield of 3.34%. American Electric Power’s payout ratio is 203.45%.

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Several research analysts have commented on the stock. Morgan Stanley lifted their price target on shares of American Electric Power from $71.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Thursday. Royal Bank Of Canada reissued a “hold” rating and set a $71.00 price target on shares of American Electric Power in a research note on Wednesday, August 2nd. BidaskClub raised shares of American Electric Power from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. BMO Capital Markets reissued an “outperform” rating and set a $75.00 price target (up from $73.00) on shares of American Electric Power in a research note on Friday, July 28th. Finally, 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. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $72.17.

In other American Electric Power 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.15% of the company’s stock.

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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