Huntington National Bank lessened its holdings in American Electric Power Company Inc (NYSE:AEP) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,028 shares of the utilities provider’s stock after selling 810 shares during the period. Huntington National Bank’s holdings in American Electric Power were worth $4,462,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Verus Capital Partners LLC acquired a new position in American Electric Power in the fourth quarter valued at $68,000. Macquarie Group Ltd. increased its stake in shares of American Electric Power by 227.3% during the fourth quarter. Macquarie Group Ltd. now owns 1,206,926 shares of the utilities provider’s stock worth $114,067,000 after acquiring an additional 838,212 shares during the period. Quadrant Capital Group LLC increased its stake in shares of American Electric Power by 13.3% during the fourth quarter. Quadrant Capital Group LLC now owns 4,770 shares of the utilities provider’s stock worth $431,000 after acquiring an additional 561 shares during the period. State of Alaska Department of Revenue increased its stake in shares of American Electric Power by 7.7% during the first quarter. State of Alaska Department of Revenue now owns 204,606 shares of the utilities provider’s stock worth $16,363,000 after acquiring an additional 14,608 shares during the period. Finally, F&V Capital Management LLC increased its stake in shares of American Electric Power by 0.8% during the first quarter. F&V Capital Management LLC now owns 39,150 shares of the utilities provider’s stock worth $3,131,000 after acquiring an additional 300 shares during the period. 74.57% of the stock is owned by institutional investors.

A number of research analysts have recently issued reports on AEP shares. Seaport Global Securities started coverage on shares of American Electric Power in a research note on Wednesday, May 20th. They set a “buy” rating and a $86.00 price target on the stock. TheStreet upgraded shares of American Electric Power from a “c+” rating to a “b-” rating in a research note on Tuesday, July 21st. Bank of America lowered shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $80.00 price target on the stock. in a research note on Friday, May 15th. KeyCorp boosted their price target on shares of American Electric Power from $93.00 to $96.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Finally, Morgan Stanley increased their target price on shares of American Electric Power from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $96.17.

In other American Electric Power news, CEO Nicholas K. Akins sold 16,519 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $81.90, for a total transaction of $1,352,906.10. Following the sale, the chief executive officer now owns 134,743 shares of the company’s stock, valued at approximately $11,035,451.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark C. Mccullough sold 2,244 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $81.19, for a total transaction of $182,190.36. Following the sale, the executive vice president now directly owns 10,530 shares in the company, valued at approximately $854,930.70. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

Shares of NYSE AEP traded up $0.81 during mid-day trading on Friday, reaching $86.88. The company had a trading volume of 2,797,254 shares, compared to its average volume of 3,618,292. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.35 and a current ratio of 0.45. American Electric Power Company Inc has a one year low of $65.14 and a one year high of $104.97. The firm has a market cap of $42.65 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 3.52 and a beta of 0.36. The business’s 50-day simple moving average is $83.21 and its 200 day simple moving average is $87.41.

American Electric Power (NYSE:AEP) last issued its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.02 EPS for the quarter, missing the Zacks’ consensus estimate of $1.09 by ($0.07). The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $4.26 billion. American Electric Power had a return on equity of 10.15% and a net margin of 12.08%. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.19 EPS. On average, sell-side analysts anticipate that American Electric Power Company Inc will post 4.29 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Friday, August 7th. American Electric Power’s payout ratio is currently 66.04%.

American Electric Power Company 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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