Manchester Capital Management LLC decreased its position in American Electric Power Company Inc (NYSE:AEP) by 6.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,447 shares of the utilities provider’s stock after selling 250 shares during the period. Manchester Capital Management LLC’s holdings in American Electric Power were worth $303,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Cobblestone Capital Advisors LLC NY raised its holdings in shares of American Electric Power by 144.2% during the second quarter. Cobblestone Capital Advisors LLC NY now owns 8,468 shares of the utilities provider’s stock valued at $745,000 after purchasing an additional 5,000 shares during the period. Cornerstone Advisors Inc. raised its holdings in shares of American Electric Power by 47.2% during the first quarter. Cornerstone Advisors Inc. now owns 546 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 175 shares during the period. Coastal Capital Group Inc. acquired a new position in shares of American Electric Power during the second quarter valued at about $145,000. Cetera Advisor Networks LLC raised its holdings in shares of American Electric Power by 14.7% during the first quarter. Cetera Advisor Networks LLC now owns 26,278 shares of the utilities provider’s stock valued at $2,204,000 after purchasing an additional 3,377 shares during the period. Finally, State Treasurer State of Michigan raised its holdings in shares of American Electric Power by 0.7% during the first quarter. State Treasurer State of Michigan now owns 142,181 shares of the utilities provider’s stock valued at $11,908,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 74.54% of the company’s stock.

In other American Electric Power news, VP Brian X. Tierney sold 4,458 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $89.73, for a total value of $400,016.34. Following the completion of the sale, the vice president now directly owns 39,745 shares of the company’s stock, valued at approximately $3,566,318.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul Chodak III sold 1,303 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $86.52, for a total transaction of $112,735.56. Following the completion of the sale, the executive vice president now directly owns 8,152 shares of the company’s stock, valued at $705,311.04. The disclosure for this sale can be found here. Insiders sold a total of 7,513 shares of company stock valued at $669,398 over the last ninety days. 0.16% of the stock is currently owned by insiders.

Shares of AEP traded up $0.15 on Tuesday, reaching $90.70. The company’s stock had a trading volume of 652,911 shares, compared to its average volume of 2,328,645. The company has a current ratio of 0.49, a quick ratio of 0.36 and a debt-to-equity ratio of 1.29. American Electric Power Company Inc has a twelve month low of $68.92 and a twelve month high of $91.99. The stock has a market capitalization of $44.56 billion, a PE ratio of 22.96, a PEG ratio of 3.86 and a beta of 0.13. The firm has a fifty day moving average of $89.77 and a 200-day moving average of $85.77.

American Electric Power (NYSE:AEP) last posted its earnings results on Thursday, July 25th. The utilities provider reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.02. American Electric Power had a net margin of 12.53% and a return on equity of 10.69%. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $4.13 billion. During the same quarter in the prior year, the business posted $1.01 EPS. The firm’s revenue was down 10.0% compared to the same quarter last year. As a group, equities analysts anticipate that American Electric Power Company Inc will post 4.13 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend is Thursday, August 8th. American Electric Power’s payout ratio is 67.85%.

Several equities analysts have recently weighed in on AEP shares. KeyCorp started coverage on shares of American Electric Power in a report on Tuesday, June 4th. They set a “sector weight” rating on the stock. Morgan Stanley dropped their price objective on shares of American Electric Power from $93.00 to $91.00 and set an “equal weight” rating on the stock in a report on Friday. Bank of America reiterated a “buy” rating and set a $98.00 price objective (up previously from $93.00) on shares of American Electric Power in a report on Tuesday, July 9th. Zacks Investment Research upgraded shares of American Electric Power from a “sell” rating to a “hold” rating and set a $96.00 price objective on the stock in a report on Thursday, July 11th. Finally, Wolfe Research set a $89.00 price objective on shares of American Electric Power and gave the company a “buy” rating in a report on Friday, April 26th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. American Electric Power currently has an average rating of “Buy” and a consensus price target of $88.33.

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.

Read More: Why is the ex-dividend date different from the record date?

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

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