Toronto Dominion Bank raised its position in shares of American Electric Power Company Inc (NYSE:AEP) by 19.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 316,565 shares of the utilities provider’s stock after acquiring an additional 51,288 shares during the period. Toronto Dominion Bank owned approximately 0.06% of American Electric Power worth $21,917,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of AEP. JPMorgan Chase & Co. boosted its holdings in shares of American Electric Power by 26.8% during the first quarter. JPMorgan Chase & Co. now owns 8,237,503 shares of the utilities provider’s stock worth $565,010,000 after acquiring an additional 1,739,771 shares during the period. Jennison Associates LLC boosted its holdings in shares of American Electric Power by 25.4% during the second quarter. Jennison Associates LLC now owns 4,308,696 shares of the utilities provider’s stock worth $298,377,000 after acquiring an additional 872,838 shares during the period. BlackRock Inc. boosted its holdings in shares of American Electric Power by 1.7% during the first quarter. BlackRock Inc. now owns 34,274,267 shares of the utilities provider’s stock worth $2,350,874,000 after acquiring an additional 560,773 shares during the period. Franklin Resources Inc. boosted its holdings in shares of American Electric Power by 11.0% during the first quarter. Franklin Resources Inc. now owns 4,616,073 shares of the utilities provider’s stock worth $316,616,000 after acquiring an additional 458,881 shares during the period. Finally, State of New Jersey Common Pension Fund D boosted its holdings in shares of American Electric Power by 262.1% during the first quarter. State of New Jersey Common Pension Fund D now owns 615,500 shares of the utilities provider’s stock worth $42,217,000 after acquiring an additional 445,500 shares during the period. Institutional investors own 71.59% of the company’s stock.

Shares of AEP stock opened at $72.34 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.50 and a quick ratio of 0.40. The company has a market capitalization of $34.92 billion, a P/E ratio of 19.66, a P/E/G ratio of 3.25 and a beta of 0.16. American Electric Power Company Inc has a 1 year low of $62.71 and a 1 year high of $78.07.

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

The business also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Investors of record on Friday, August 10th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Thursday, August 9th. American Electric Power’s dividend payout ratio (DPR) is currently 67.39%.

A number of equities research analysts have recently issued reports on the company. Morgan Stanley boosted their price objective on American Electric Power from $73.00 to $76.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Mizuho restated a “buy” rating and set a $74.50 price objective on shares of American Electric Power in a report on Friday, July 27th. Goldman Sachs Group upgraded American Electric Power from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $76.00 to $74.00 in a report on Thursday, July 19th. Zacks Investment Research upgraded American Electric Power from a “sell” rating to a “hold” rating and set a $79.00 price objective for the company in a report on Thursday, July 12th. Finally, KeyCorp boosted their price objective on American Electric Power from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, July 19th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. American Electric Power presently has a consensus rating of “Buy” and a consensus price target of $75.44.

American Electric Power 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.

Further Reading: Closed-End Mutual Funds (CEFs)

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

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