Wagner Bowman Management Corp decreased its position in shares of American Electric Power Co. (NYSE:AEP) by 0.3% during the second quarter, Holdings Channel reports. The institutional investor owned 9,210 shares of the company’s stock after selling 24 shares during the period. Wagner Bowman Management Corp’s holdings in American Electric Power were worth $645,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bank of Montreal Can bought a new position in American Electric Power during the second quarter worth about $261,970,000. Panagora Asset Management Inc. raised its position in shares of American Electric Power by 3.6% in the first quarter. Panagora Asset Management Inc. now owns 782,385 shares of the company’s stock worth $51,950,000 after buying an additional 27,294 shares during the period. First Quadrant L P CA raised its position in shares of American Electric Power by 100.2% in the second quarter. First Quadrant L P CA now owns 80,500 shares of the company’s stock worth $5,642,000 after buying an additional 40,300 shares during the period. CIBC World Markets Inc. raised its position in shares of American Electric Power by 60.1% in the second quarter. CIBC World Markets Inc. now owns 12,987 shares of the company’s stock worth $910,000 after buying an additional 4,876 shares during the period. Finally, AXA raised its position in shares of American Electric Power by 364.8% in the first quarter. AXA now owns 92,500 shares of the company’s stock worth $6,142,000 after buying an additional 72,600 shares during the period. Institutional investors and hedge funds own 69.19% of the company’s stock.

American Electric Power Co. (NYSE:AEP) traded down 0.63% on Tuesday, reaching $65.01. The company had a trading volume of 2,233,058 shares. The stock has a market capitalization of $31.97 billion, a price-to-earnings ratio of 16.04 and a beta of 0.24. The firm has a 50 day moving average price of $66.05 and a 200-day moving average price of $66.19. American Electric Power Co. has a 12 month low of $53.30 and a 12 month high of $71.32.

American Electric Power (NYSE:AEP) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.95 EPS for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.05. The firm had revenue of $3.90 billion for the quarter, compared to analyst estimates of $4.01 billion. American Electric Power had a return on equity of 9.54% and a net margin of 12.50%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the company earned $0.88 EPS. Analysts forecast that American Electric Power Co. will post $3.69 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Wednesday, August 10th were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.45%. American Electric Power’s payout ratio is 55.17%.

A number of research analysts have issued reports on the company. Barclays PLC boosted their price target on American Electric Power from $75.00 to $77.00 and gave the stock an “overweight” rating in a research report on Friday, July 29th. Citigroup Inc. boosted their price target on American Electric Power from $61.00 to $68.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 20th. Jefferies Group lowered American Electric Power from a “buy” rating to a “hold” rating and reduced their price target for the stock from $77.00 to $67.00 in a research report on Tuesday. They noted that the move was a valuation call. Zacks Investment Research lowered American Electric Power from a “buy” rating to a “hold” rating in a research report on Wednesday, September 14th. Finally, Morgan Stanley reiterated a “hold” rating on shares of American Electric Power in a research report on Wednesday, June 15th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. American Electric Power has a consensus rating of “Buy” and an average target price of $67.39.

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 Company’s segments include Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing.

5 Day Chart for NYSE:AEP

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