Penserra Capital Management LLC acquired a new position in shares of American Electric Power Company Inc (NYSE:AEP) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 25,082 shares of the utilities provider’s stock, valued at approximately $1,777,000.

Several other large investors also recently bought and sold shares of the stock. BlackRock Inc. boosted its position in shares of American Electric Power by 2.5% during the 2nd quarter. BlackRock Inc. now owns 35,136,287 shares of the utilities provider’s stock worth $2,433,189,000 after purchasing an additional 862,020 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of American Electric Power by 1.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,536,015 shares of the utilities provider’s stock worth $392,393,000 after purchasing an additional 64,801 shares during the period. Jennison Associates LLC boosted its position in shares of American Electric Power by 25.4% during the 2nd quarter. Jennison Associates LLC now owns 4,308,696 shares of the utilities provider’s stock worth $298,377,000 after purchasing an additional 872,838 shares during the period. Legal & General Group Plc boosted its position in shares of American Electric Power by 4.3% during the 2nd quarter. Legal & General Group Plc now owns 3,915,754 shares of the utilities provider’s stock worth $271,149,000 after purchasing an additional 160,360 shares during the period. Finally, Federated Investors Inc. PA boosted its position in shares of American Electric Power by 5.2% during the 2nd quarter. Federated Investors Inc. PA now owns 2,472,994 shares of the utilities provider’s stock worth $171,256,000 after purchasing an additional 122,471 shares during the period. 72.12% of the stock is owned by hedge funds and other institutional investors.

A number of research firms recently weighed in on AEP. Morgan Stanley increased their price objective on shares of American Electric Power from $73.00 to $76.00 and gave the stock an “overweight” rating in a research report on Friday, July 27th. Zacks Investment Research raised shares of American Electric Power from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Monday, October 15th. Bank of America increased their price objective on shares of American Electric Power from $76.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, October 26th. SunTrust Banks reaffirmed a “buy” rating and set a $80.00 price objective on shares of American Electric Power in a research report on Wednesday, July 25th. Finally, KeyCorp increased their price objective on shares of American Electric Power from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, July 19th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $76.03.

Shares of AEP stock opened at $75.32 on Friday. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.56 and a quick ratio of 0.46. American Electric Power Company Inc has a 52 week low of $62.71 and a 52 week high of $78.07. The company has a market capitalization of $37.05 billion and a price-to-earnings ratio of 20.47.

American Electric Power (NYSE:AEP) last issued its quarterly earnings results on Thursday, October 25th. The utilities provider reported $1.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.05. American Electric Power had a net margin of 12.14% and a return on equity of 10.78%. The company had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.26 billion. During the same quarter last year, the company posted $1.10 EPS. As a group, equities analysts forecast that American Electric Power Company Inc will post 3.95 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 9th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Thursday, November 8th. This is a boost from American Electric Power’s previous quarterly dividend of $0.62. American Electric Power’s dividend payout ratio (DPR) is currently 67.39%.

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About American Electric Power

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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