Benjamin F. Edwards & Company Inc. decreased its stake in American Electric Power Company, Inc. (NYSE:AEP) by 26.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,472 shares of the utilities provider’s stock after selling 526 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in American Electric Power were worth $102,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AEP. Gulf International Bank UK Ltd boosted its stake in American Electric Power by 2.3% in the first quarter. Gulf International Bank UK Ltd now owns 153,404 shares of the utilities provider’s stock valued at $10,298,000 after buying an additional 3,500 shares during the period. Quadrant Capital Group LLC boosted its stake in American Electric Power by 1.4% in the first quarter. Quadrant Capital Group LLC now owns 3,861 shares of the utilities provider’s stock valued at $250,000 after buying an additional 53 shares during the period. Mutual of Omaha Bank Wealth Management boosted its stake in American Electric Power by 17.7% in the first quarter. Mutual of Omaha Bank Wealth Management now owns 25,015 shares of the utilities provider’s stock valued at $1,679,000 after buying an additional 3,760 shares during the period. National Pension Service boosted its stake in American Electric Power by 4.5% in the first quarter. National Pension Service now owns 380,734 shares of the utilities provider’s stock valued at $25,570,000 after buying an additional 16,491 shares during the period. Finally, Carroll Financial Associates Inc. boosted its stake in American Electric Power by 1.9% in the first quarter. Carroll Financial Associates Inc. now owns 7,018 shares of the utilities provider’s stock valued at $471,000 after buying an additional 132 shares during the period. Institutional investors own 70.83% of the company’s stock.

American Electric Power Company, Inc. (NYSE AEP) opened at 71.39 on Tuesday. 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 Company, Inc. has a 12 month low of $57.89 and a 12 month high of $72.97. The stock’s 50 day moving average price is $70.10 and its 200-day moving average price is $67.73.

American Electric Power (NYSE:AEP) last released its earnings results 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. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.70 billion. American Electric Power had a net margin of 3.60% and a return on equity of 10.32%. During the same quarter in the previous year, the business earned $0.95 EPS. Equities analysts anticipate that American Electric Power Company, Inc. will post $3.66 EPS for the current fiscal year.

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

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Several analysts have recently weighed in on AEP shares. Deutsche Bank AG boosted their price target on American Electric Power from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Tuesday, April 11th. Mizuho reaffirmed a “buy” rating and issued a $72.50 price objective on shares of American Electric Power in a research note on Wednesday, April 19th. Barclays PLC reaffirmed an “overweight” rating and issued a $76.00 price objective (up from $71.00) on shares of American Electric Power in a research note on Sunday, April 23rd. Zacks Investment Research lowered American Electric Power from a “hold” rating to a “sell” rating in a research note on Friday, April 28th. Finally, Jefferies Group LLC lifted their price objective on American Electric Power from $68.00 to $70.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $72.09.

In other news, insider Paul Chodak III sold 1,110 shares of the firm’s stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, 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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