1ST Source Bank decreased its stake in shares of American Electric Power Company, Inc. (NYSE:AEP) by 0.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 34,526 shares of the utilities provider’s stock after selling 105 shares during the period. 1ST Source Bank’s holdings in American Electric Power were worth $2,398,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. MCF Advisors LLC boosted its stake in American Electric Power by 0.8% in the second quarter. MCF Advisors LLC now owns 2,718 shares of the utilities provider’s stock valued at $189,000 after buying an additional 22 shares during the period. Boston Advisors LLC bought a new stake in American Electric Power during the second quarter valued at approximately $294,000. ING Groep NV boosted its stake in American Electric Power by 0.3% in the second quarter. ING Groep NV now owns 33,623 shares of the utilities provider’s stock valued at $2,336,000 after buying an additional 90 shares during the period. Moloney Securities Asset Management LLC boosted its stake in American Electric Power by 2.2% in the second quarter. Moloney Securities Asset Management LLC now owns 14,824 shares of the utilities provider’s stock valued at $1,030,000 after buying an additional 315 shares during the period. Finally, Carroll Financial Associates Inc. boosted its stake in American Electric Power by 9.2% in the second quarter. Carroll Financial Associates Inc. now owns 7,663 shares of the utilities provider’s stock valued at $532,000 after buying an additional 645 shares during the period. 70.83% of the stock is currently owned by institutional investors and hedge funds.

Shares of American Electric Power Company, Inc. (NYSE AEP) opened at 71.39 on Tuesday. American Electric Power Company, Inc. has a 12-month low of $57.89 and a 12-month high of $72.97. The firm has a 50-day moving average of $70.10 and a 200 day moving average of $67.73. The firm has a market capitalization of $35.11 billion, a price-to-earnings ratio of 61.44 and a beta of 0.30.

American Electric Power (NYSE:AEP) last posted its quarterly earnings data 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 period in the prior year, the company posted $0.95 earnings per share. On average, equities research analysts expect that American Electric Power Company, Inc. will post $3.66 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 10th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, August 8th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.31%. American Electric Power’s payout ratio is presently 203.45%.

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Several analysts have recently commented on the stock. 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 upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a report on Monday, July 31st. BMO Capital Markets restated an “outperform” rating and issued a $75.00 price objective (up from $73.00) on shares of American Electric Power in a report on Friday, July 28th. Zacks Investment Research upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $70.00 price objective on shares of American Electric Power in a report on Wednesday, July 19th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $72.09.

In other American Electric Power news, insider Paul Chodak III sold 1,110 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $68.20, for a total transaction of $75,702.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.15% of the stock is owned by insiders.

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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