Foster & Motley Inc. cut its stake in shares of American Electric Power Company, Inc. (NYSE:AEP) by 2.6% during the second quarter, Holdings Channel reports. The institutional investor owned 8,061 shares of the utilities provider’s stock after selling 213 shares during the period. Foster & Motley Inc.’s holdings in American Electric Power were worth $560,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of AEP. BlackRock Inc. increased its stake in 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 increased its stake in 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. increased its stake in 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 increased its stake in 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. purchased a new stake in American Electric Power during the first quarter valued at about $56,864,000. Hedge funds and other institutional investors own 70.83% of the company’s stock.

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

American Electric Power (NYSE:AEP) last released its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.75 EPS for the quarter, missing the 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 company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same period last year, the business earned $0.95 earnings per share. On average, equities analysts anticipate that American Electric Power Company, Inc. will post $3.66 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 10th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Tuesday, August 8th. American Electric Power’s payout ratio is 203.45%.

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Several equities research analysts recently issued reports on AEP shares. Jefferies Group LLC boosted 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 downgraded 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 previously 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 downgraded American Electric Power from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $72.17.

In other news, insider Paul Chodak III sold 1,110 shares of American Electric Power stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $68.20, for a total transaction of $75,702.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.15% of the stock is currently 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.

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Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

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