BlackRock Inc. decreased its holdings in American Electric Power Company, Inc. (NYSE:AEP) by 1.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,274,557 shares of the utilities provider’s stock after selling 545,264 shares during the quarter. BlackRock Inc. owned about 6.77% of American Electric Power worth $2,311,582,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in AEP. State Treasurer State of Michigan raised its position in American Electric Power by 0.4% in the 1st quarter. State Treasurer State of Michigan now owns 161,481 shares of the utilities provider’s stock valued at $10,840,000 after purchasing an additional 700 shares during the last quarter. Eqis Capital Management Inc. raised its position in American Electric Power by 9.2% in the 1st quarter. Eqis Capital Management Inc. now owns 8,091 shares of the utilities provider’s stock valued at $543,000 after purchasing an additional 683 shares during the last quarter. LSV Asset Management raised its position in American Electric Power by 2.4% in the 1st quarter. LSV Asset Management now owns 3,085,634 shares of the utilities provider’s stock valued at $207,138,000 after purchasing an additional 71,300 shares during the last quarter. Jackson Grant Investment Advisers Inc. raised its position in American Electric Power by 0.5% in the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 2,812 shares of the utilities provider’s stock valued at $189,000 after purchasing an additional 13 shares during the last quarter. Finally, Bridgecreek Investment Management LLC raised its position in American Electric Power by 1.6% in the 1st quarter. Bridgecreek Investment Management LLC now owns 95,548 shares of the utilities provider’s stock valued at $6,414,000 after purchasing an additional 1,505 shares during the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Several research firms recently commented on AEP. Morgan Stanley reiterated an “equal weight” rating on shares of American Electric Power in a research report on Friday, September 8th. Royal Bank Of Canada reiterated a “hold” rating and issued a $71.00 price target on shares of American Electric Power in a research report on Monday, September 4th. KeyCorp reiterated a “buy” rating and issued a $73.00 price target on shares of American Electric Power in a research report on Friday, September 1st. BidaskClub upgraded shares of American Electric Power from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $75.00 price target (up previously from $73.00) on shares of American Electric Power in a research report on Friday, July 28th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $72.23.

Shares of American Electric Power Company, Inc. (AEP) traded down 0.53% during trading on Friday, reaching $72.51. 1,048,600 shares of the company’s stock were exchanged. American Electric Power Company, Inc. has a 52 week low of $57.89 and a 52 week high of $74.59. The stock has a market capitalization of $35.66 billion, a PE ratio of 62.40 and a beta of 0.29. The company’s 50-day moving average is $72.37 and its 200 day moving average is $69.61.

American Electric Power (NYSE:AEP) last posted its earnings results on Thursday, July 27th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.07). The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate 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 previous year, the business posted $0.95 earnings per share. On average, analysts forecast that American Electric Power Company, Inc. will post $3.65 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Thursday, August 10th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend was Tuesday, August 8th. American Electric Power’s payout ratio is 203.45%.

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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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