Evercore Wealth Management LLC decreased its position in American Electric Power Company, Inc. (NYSE:AEP) by 8.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,799 shares of the utilities provider’s stock after selling 2,084 shares during the period. Evercore Wealth Management LLC’s holdings in American Electric Power were worth $1,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Brookfield Asset Management Inc. purchased a new position in American Electric Power in the 1st quarter worth $56,864,000. Homrich & Berg raised its stake in American Electric Power by 2.0% in the 2nd quarter. Homrich & Berg now owns 16,034 shares of the utilities provider’s stock worth $1,114,000 after acquiring an additional 321 shares during the last quarter. Captrust Financial Advisors purchased a new position in American Electric Power in the 2nd quarter worth $630,000. Neuberger Berman Group LLC raised its stake in American Electric Power by 5.5% in the 2nd quarter. Neuberger Berman Group LLC now owns 724,256 shares of the utilities provider’s stock worth $50,314,000 after acquiring an additional 37,578 shares during the last quarter. Finally, Regal Investment Advisors LLC raised its stake in American Electric Power by 18.9% in the 2nd quarter. Regal Investment Advisors LLC now owns 29,681 shares of the utilities provider’s stock worth $2,062,000 after acquiring an additional 4,715 shares during the last quarter. Institutional investors own 71.20% of the company’s stock.

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A number of equities analysts recently issued reports on AEP shares. KeyCorp restated a “buy” rating and issued a $73.00 target price on shares of American Electric Power in a research note on Friday, September 1st. Royal Bank Of Canada restated a “hold” rating and issued a $71.00 target price on shares of American Electric Power in a research note on Monday, September 4th. Zacks Investment Research upgraded American Electric Power from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Morgan Stanley restated an “equal weight” rating on shares of American Electric Power in a research note on Friday, September 8th. Finally, BidaskClub upgraded American Electric Power from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. American Electric Power presently has a consensus rating of “Hold” and a consensus target price of $72.27.

American Electric Power Company, Inc. (NYSE AEP) traded down 0.39% during trading on Tuesday, hitting $70.76. The company’s stock had a trading volume of 284,261 shares. The company has a 50-day moving average of $72.53 and a 200 day moving average of $69.78. The firm has a market cap of $34.80 billion, a PE ratio of 60.90 and a beta of 0.29. American Electric Power Company, Inc. has a one year low of $57.89 and a one year high of $74.59.

American Electric Power (NYSE:AEP) last posted its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.07). The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.70 billion. American Electric Power had a return on equity of 10.32% and a net margin of 3.60%. During the same period in the prior year, the company earned $0.95 earnings per share. On average, equities analysts forecast that American Electric Power Company, Inc. will post $3.65 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Thursday, August 10th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $2.36 annualized dividend and a yield of 3.34%. American Electric Power’s dividend payout ratio is currently 203.45%.

American Electric Power 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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