Los Angeles Capital Management & Equity Research Inc. reduced its position in American Electric Power Company Inc (NYSE:AEP) by 79.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,638 shares of the utilities provider’s stock after selling 70,312 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in American Electric Power were worth $1,291,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. grew its position 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 buying an additional 560,773 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of American Electric Power by 1.1% during the first quarter. Wells Fargo & Company MN now owns 11,681,716 shares of the utilities provider’s stock worth $801,249,000 after buying an additional 125,880 shares in the last quarter. JPMorgan Chase & Co. grew its position 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 buying an additional 1,739,771 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of American Electric Power by 4.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,471,214 shares of the utilities provider’s stock worth $378,880,000 after buying an additional 218,062 shares in the last quarter. Finally, Franklin Resources Inc. grew its position 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 buying an additional 458,881 shares in the last quarter. 71.59% of the stock is owned by institutional investors.

A number of equities analysts have recently commented on the company. Morgan Stanley lowered their price objective on American Electric Power from $71.00 to $67.00 and set an “overweight” rating for the company in a research report on Wednesday, June 13th. Argus lowered their price objective on American Electric Power from $84.00 to $79.00 and set a “buy” rating for the company in a research report on Thursday, May 24th. SunTrust Banks reissued a “buy” rating and set a $80.00 price objective on shares of American Electric Power in a research report on Wednesday, July 25th. Zacks Investment Research raised American Electric Power from a “sell” rating to a “hold” rating and set a $79.00 price objective for the company in a research 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 research report on Thursday, July 19th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $75.44.

AEP stock opened at $72.34 on Friday. The company has a market cap of $34.92 billion, a P/E ratio of 19.66, a price-to-earnings-growth ratio of 3.25 and a beta of 0.16. American Electric Power Company Inc has a fifty-two week low of $62.71 and a fifty-two week high of $78.07. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.50 and a quick ratio of 0.40.

American Electric Power (NYSE:AEP) last posted its earnings results on Wednesday, July 25th. The utilities provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.13. The firm 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 was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 earnings per share. sell-side analysts anticipate that American Electric Power Company Inc will post 3.89 earnings per share for the current fiscal year.

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

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.

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

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