Northern Trust Corp cut its stake in shares of American Electric Power Company, Inc. (NYSE:AEP) by 1.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,699,602 shares of the utilities provider’s stock after selling 81,509 shares during the period. Northern Trust Corp owned approximately 1.16% of American Electric Power worth $395,951,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Ledyard National Bank grew its stake in shares of American Electric Power by 52.6% during the second quarter. Ledyard National Bank now owns 1,450 shares of the utilities provider’s stock worth $101,000 after purchasing an additional 500 shares during the period. Point72 Asia Hong Kong Ltd acquired a new stake in shares of American Electric Power during the first quarter worth $105,000. Chicago Partners Investment Group LLC grew its stake in shares of American Electric Power by 0.3% during the first quarter. Chicago Partners Investment Group LLC now owns 1,599 shares of the utilities provider’s stock worth $107,000 after purchasing an additional 5 shares during the period. Zions Bancorporation grew its stake in shares of American Electric Power by 1.3% during the first quarter. Zions Bancorporation now owns 1,680 shares of the utilities provider’s stock worth $113,000 after purchasing an additional 21 shares during the period. Finally, Thompson Davis & CO. Inc. grew its stake in shares of American Electric Power by 0.3% during the first quarter. Thompson Davis & CO. Inc. now owns 1,741 shares of the utilities provider’s stock worth $117,000 after purchasing an additional 6 shares during the period. 71.20% of the stock is owned by institutional investors and hedge funds.

Shares of American Electric Power Company, Inc. (AEP) traded up 0.21% during mid-day trading on Thursday, hitting $71.83. The stock had a trading volume of 221,851 shares. American Electric Power Company, Inc. has a 1-year low of $57.89 and a 1-year high of $74.59. The company has a market cap of $35.33 billion, a P/E ratio of 61.82 and a beta of 0.29. The firm’s 50 day moving average price is $72.53 and its 200 day moving average price is $69.78.

American Electric Power (NYSE:AEP) last issued its earnings results on Thursday, July 27th. The utilities provider reported $0.75 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.07). The firm 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 in the prior year, the business earned $0.95 earnings per share. Analysts predict that American Electric Power Company, Inc. will post $3.65 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Thursday, August 10th were paid a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $2.36 annualized dividend and a dividend yield of 3.29%. American Electric Power’s dividend payout ratio is presently 203.45%.

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AEP has been the subject of a number of analyst reports. KeyCorp reaffirmed a “buy” rating and set a $73.00 price objective on shares of American Electric Power in a research note on Friday, September 1st. Zacks Investment Research raised American Electric Power from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. BidaskClub raised American Electric Power from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Royal Bank Of Canada reaffirmed a “hold” rating and set a $71.00 price objective on shares of American Electric Power in a research note on Monday, September 4th. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of American Electric Power in a report on Friday, September 8th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $72.23.

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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