Pinebridge Investments L.P. lifted its stake in shares of American Electric Power Company Inc (NYSE:AEP) by 811.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,062 shares of the utilities provider’s stock after buying an additional 33,885 shares during the quarter. Pinebridge Investments L.P.’s holdings in American Electric Power were worth $2,673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in AEP. Capital Research Global Investors lifted its holdings in American Electric Power by 223.4% during the 2nd quarter. Capital Research Global Investors now owns 10,110,731 shares of the utilities provider’s stock valued at $702,392,000 after buying an additional 6,983,864 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of American Electric Power by 70.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,696,615 shares of the utilities provider’s stock worth $472,110,000 after buying an additional 2,762,164 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of American Electric Power by 29.1% in the 3rd quarter. Wells Fargo & Company MN now owns 10,029,371 shares of the utilities provider’s stock worth $704,464,000 after buying an additional 2,260,303 shares during the last quarter. APG Asset Management N.V. grew its position in shares of American Electric Power by 153.2% in the 3rd quarter. APG Asset Management N.V. now owns 3,376,206 shares of the utilities provider’s stock worth $237,145,000 after buying an additional 2,042,700 shares during the last quarter. Finally, Epoch Investment Partners Inc. purchased a new position in shares of American Electric Power in the 2nd quarter worth approximately $122,927,000. Institutional investors own 71.01% of the company’s stock.

A number of brokerages have recently issued reports on AEP. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $74.00 price objective on shares of American Electric Power in a research report on Monday, October 30th. ValuEngine raised shares of American Electric Power from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Morgan Stanley reaffirmed an “equal weight” rating on shares of American Electric Power in a research report on Friday, September 8th. J P Morgan Chase & Co lifted their price objective on shares of American Electric Power to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, October 12th. Finally, BidaskClub raised shares of American Electric Power from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $73.91.

Shares of American Electric Power Company Inc (NYSE:AEP) opened at $76.27 on Wednesday. The firm has a market cap of $38,067.01, a P/E ratio of 22.24, a price-to-earnings-growth ratio of 4.51 and a beta of 0.30. American Electric Power Company Inc has a 12-month low of $59.01 and a 12-month high of $78.07. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.43 and a current ratio of 0.56.

American Electric Power (NYSE:AEP) last released its earnings results on Thursday, October 26th. The utilities provider reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.06). The company had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.42 billion. American Electric Power had a return on equity of 9.67% and a net margin of 12.21%. The firm’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.30 EPS. equities analysts expect that American Electric Power Company Inc will post 3.61 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 10th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend is Thursday, November 9th. This is an increase from American Electric Power’s previous quarterly dividend of $0.59. American Electric Power’s payout ratio is currently 64.92%.

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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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