Forsta AP Fonden cut its stake in American Electric Power Company Inc (NYSE:AEP) by 10.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 288,216 shares of the utilities provider’s stock after selling 35,100 shares during the quarter. Forsta AP Fonden owned approximately 0.06% of American Electric Power worth $19,959,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. FormulaFolio Investments LLC lifted its stake in American Electric Power by 23.0% in the 2nd quarter. FormulaFolio Investments LLC now owns 3,985 shares of the utilities provider’s stock worth $276,000 after purchasing an additional 745 shares in the last quarter. Douglass Winthrop Advisors LLC lifted its stake in American Electric Power by 5.2% in the 2nd quarter. Douglass Winthrop Advisors LLC now owns 15,941 shares of the utilities provider’s stock worth $1,104,000 after purchasing an additional 782 shares in the last quarter. Valeo Financial Advisors LLC lifted its stake in American Electric Power by 59.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,145 shares of the utilities provider’s stock worth $152,000 after purchasing an additional 799 shares in the last quarter. Mn Services Vermogensbeheer B.V. lifted its stake in American Electric Power by 1.0% in the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 77,328 shares of the utilities provider’s stock worth $5,304,000 after purchasing an additional 800 shares in the last quarter. Finally, DnB Asset Management AS lifted its stake in American Electric Power by 3.1% in the 2nd quarter. DnB Asset Management AS now owns 26,900 shares of the utilities provider’s stock worth $1,863,000 after purchasing an additional 800 shares in the last quarter. 72.52% of the stock is currently owned by institutional investors and hedge funds.

AEP has been the topic of a number of research reports. Scotiabank initiated coverage on shares of American Electric Power in a research note on Tuesday, July 24th. They issued a “hold” rating and a $72.00 target price on the stock. Guggenheim raised shares of American Electric Power from a “neutral” rating to a “buy” rating in a research note on Monday. They noted that the move was a valuation call. Zacks Investment Research lowered shares of American Electric Power from a “hold” rating to a “sell” rating in a research note on Wednesday, June 27th. Howard Weil initiated coverage on shares of American Electric Power in a research note on Tuesday, July 24th. They issued a “sector perform” rating and a $72.00 target price on the stock. Finally, KeyCorp raised their target price on shares of American Electric Power from $70.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, July 19th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $75.47.

AEP stock opened at $72.97 on Friday. The company has a market cap of $35.74 billion, a PE ratio of 19.83, a PEG ratio of 3.33 and a beta of 0.09. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.40 and a current ratio of 0.50. American Electric Power Company Inc has a one year low of $62.71 and a one year high of $78.07.

American Electric Power (NYSE:AEP) last released its quarterly earnings results on Wednesday, July 25th. The utilities provider reported $1.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.13. The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $3.85 billion. American Electric Power had a net margin of 12.09% and a return on equity of 10.50%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.75 EPS. analysts forecast that American Electric Power Company Inc will post 3.89 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, September 10th. Stockholders of record on Friday, August 10th were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.40%. The ex-dividend date was Thursday, August 9th. American Electric Power’s payout ratio is presently 67.39%.

American Electric Power Company Profile

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

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

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