State of New Jersey Common Pension Fund D maintained its stake in shares of American Electric Power Company, Inc. (NYSE:AEP) during the second quarter, Holdings Channel reports. The firm owned 170,000 shares of the utilities provider’s stock at the end of the second quarter. State of New Jersey Common Pension Fund D’s holdings in American Electric Power were worth $11,810,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of AEP. Vanguard Group Inc. raised its stake in shares of American Electric Power by 3.4% in the first quarter. Vanguard Group Inc. now owns 34,128,589 shares of the utilities provider’s stock worth $2,291,051,000 after buying an additional 1,124,366 shares during the last quarter. BlackRock Inc. raised its stake in shares of American Electric Power by 2,394.3% in the first quarter. BlackRock Inc. now owns 33,819,821 shares of the utilities provider’s stock worth $2,270,326,000 after buying an additional 32,463,953 shares during the last quarter. State Street Corp raised its stake in shares of American Electric Power by 0.6% in the first quarter. State Street Corp now owns 25,061,133 shares of the utilities provider’s stock worth $1,682,343,000 after buying an additional 153,485 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of American Electric Power by 16.2% in the first quarter. Wells Fargo & Company MN now owns 7,668,864 shares of the utilities provider’s stock worth $514,810,000 after buying an additional 1,069,388 shares during the last quarter. Finally, Pioneer Investment Management Inc. raised its stake in shares of American Electric Power by 14.2% in the first quarter. Pioneer Investment Management Inc. now owns 4,719,353 shares of the utilities provider’s stock worth $316,810,000 after buying an additional 585,220 shares during the last quarter. 70.83% of the stock is owned by institutional investors and hedge funds.

American Electric Power Company, Inc. (NYSE AEP) opened at 71.36 on Friday. The stock has a market cap of $35.10 billion, a P/E ratio of 61.41 and a beta of 0.30. American Electric Power Company, Inc. has a 52 week low of $57.89 and a 52 week high of $72.97. The stock has a 50 day moving average price of $69.90 and a 200-day moving average price of $68.03.

American Electric Power (NYSE:AEP) last announced its earnings results on Thursday, July 27th. The utilities provider reported $0.75 earnings per share 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 business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the prior year, the business posted $0.95 EPS. On average, equities analysts anticipate that American Electric Power Company, Inc. will post $3.66 EPS for the current fiscal 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 dividend of $0.59 per share. 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 dividend payout ratio is 203.45%.

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AEP has been the subject of a number of research analyst reports. Zacks Investment Research raised American Electric Power from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. BidaskClub downgraded American Electric Power from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Morgan Stanley reiterated an “equal weight” rating on shares of American Electric Power in a research note on Monday, July 10th. Jefferies Group LLC reiterated a “hold” rating and set a $70.00 price target on shares of American Electric Power in a research note on Wednesday, July 19th. Finally, Mizuho reiterated a “buy” rating and set a $72.50 price target on shares of American Electric Power in a research note on Wednesday, April 19th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. American Electric Power has a consensus rating of “Hold” and a consensus price target of $72.17.

In related news, insider Paul Chodak III sold 1,110 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $68.20, for a total transaction of $75,702.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.15% of the stock is currently owned by company insiders.

About American Electric Power

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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