National Asset Management Inc. cut its stake in American Electric Power Company Inc (NYSE:AEP) by 11.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,887 shares of the utilities provider’s stock after selling 1,234 shares during the quarter. National Asset Management Inc.’s holdings in American Electric Power were worth $696,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. raised its position in shares of American Electric Power by 188.7% in the third quarter. Meeder Asset Management Inc. now owns 5,333 shares of the utilities provider’s stock valued at $375,000 after purchasing an additional 3,486 shares during the period. Homrich & Berg raised its position in shares of American Electric Power by 2.0% in the second quarter. Homrich & Berg now owns 16,034 shares of the utilities provider’s stock valued at $1,114,000 after purchasing an additional 321 shares during the period. Captrust Financial Advisors bought a new position in shares of American Electric Power in the second quarter valued at about $630,000. Neuberger Berman Group LLC raised its position in shares of American Electric Power by 5.5% in the second quarter. Neuberger Berman Group LLC now owns 724,256 shares of the utilities provider’s stock valued at $50,314,000 after purchasing an additional 37,578 shares during the period. Finally, Raymond James Trust N.A. raised its position in shares of American Electric Power by 3.4% in the third quarter. Raymond James Trust N.A. now owns 25,915 shares of the utilities provider’s stock valued at $1,820,000 after purchasing an additional 861 shares during the period. 71.01% of the stock is currently owned by institutional investors.

AEP has been the topic of a number of recent research reports. Mizuho lowered shares of American Electric Power from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $74.00 to $73.00 in a research report on Friday, September 22nd. Morgan Stanley reaffirmed an “equal weight” rating on shares of American Electric Power in a research report on Friday, September 8th. Bank of America initiated coverage on shares of American Electric Power in a research report on Tuesday, October 24th. They set a “buy” rating and a $79.00 price target on the stock. Royal Bank Of Canada reaffirmed a “hold” rating and set a $74.00 price target on shares of American Electric Power in a research report on Monday, October 30th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $73.00 price target on shares of American Electric Power in a research report on Tuesday, October 3rd. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $73.91.

American Electric Power Company Inc (AEP) opened at $77.39 on Tuesday. American Electric Power Company Inc has a 1 year low of $57.90 and a 1 year high of $78.07. The company has a market cap of $37,993.23, a PE ratio of 22.19, a P/E/G ratio of 4.50 and a beta of 0.30. 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 announced its quarterly earnings data on Thursday, October 26th. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.06). The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.42 billion. American Electric Power had a return on equity of 9.67% and a net margin of 12.21%. The company’s quarterly revenue was down 12.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.30 earnings per share. analysts anticipate that American Electric Power Company Inc will post 3.61 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 10th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.20%. This is an increase from American Electric Power’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Thursday, November 9th. American Electric Power’s dividend payout ratio is presently 64.92%.

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American Electric Power Company 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.

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

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