Daiwa Securities Group Inc. increased its stake in American Electric Power Company, Inc. (NYSE:AEP) by 2.6% during the second quarter, Holdings Channel reports. The institutional investor owned 15,550 shares of the utilities provider’s stock after buying an additional 400 shares during the period. Daiwa Securities Group Inc.’s holdings in American Electric Power were worth $1,080,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. boosted its position 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 valued at $2,270,326,000 after buying an additional 32,463,953 shares in the last quarter. Bank of Montreal Can boosted its position in shares of American Electric Power by 35.2% in the second quarter. Bank of Montreal Can now owns 4,366,510 shares of the utilities provider’s stock valued at $303,342,000 after buying an additional 1,137,941 shares in the last quarter. Vanguard Group Inc. boosted its position 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 valued at $2,291,051,000 after buying an additional 1,124,366 shares in the last quarter. Wells Fargo & Company MN boosted its position 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 valued at $514,810,000 after buying an additional 1,069,388 shares in the last quarter. Finally, Brookfield Asset Management Inc. bought a new position in shares of American Electric Power during the first quarter valued at $56,864,000. Institutional investors and hedge funds own 70.83% of the company’s stock.

American Electric Power Company, Inc. (NYSE AEP) opened at 70.56 on Friday. American Electric Power Company, Inc. has a 1-year low of $57.89 and a 1-year high of $72.97. The firm’s 50-day moving average price is $69.86 and its 200-day moving average price is $68.09. The firm has a market capitalization of $34.70 billion, a PE ratio of 60.72 and a beta of 0.30.

American Electric Power (NYSE:AEP) last announced its quarterly 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. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates 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 last year, the business earned $0.95 EPS. On average, equities research analysts predict that American Electric Power Company, Inc. will post $3.66 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 10th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.34%. American Electric Power’s dividend payout ratio (DPR) is presently 203.45%.

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A number of research analysts recently commented on AEP shares. Jefferies Group LLC upped their price objective on American Electric Power from $68.00 to $70.00 and gave the company a “hold” rating in a report on Friday, April 28th. Zacks Investment Research cut American Electric Power from a “hold” rating to a “sell” rating in a report on Friday, April 28th. Barclays PLC reiterated an “overweight” rating and issued a $76.00 price objective (up from $71.00) on shares of American Electric Power in a report on Sunday, April 23rd. Mizuho reiterated a “buy” rating and issued a $72.50 price objective on shares of American Electric Power in a report on Wednesday, April 19th. Finally, BidaskClub cut American Electric Power from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus 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 American Electric Power stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $68.20, for a total value of $75,702.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.15% of the stock is 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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