American Electric Power Company, Inc. (AEP) Stake Decreased by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. cut its stake in shares of American Electric Power Company, Inc. (NYSE:AEP) by 3.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 74,385 shares of the utilities provider’s stock after selling 2,452 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in American Electric Power were worth $4,993,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of AEP. Brookfield Asset Management Inc. acquired a new position in American Electric Power during the first quarter valued at approximately $56,864,000. TNB Financial acquired a new position in American Electric Power during the first quarter valued at approximately $2,377,000. Peapack Gladstone Financial Corp raised its position in American Electric Power by 2.5% in the first quarter. Peapack Gladstone Financial Corp now owns 8,295 shares of the utilities provider’s stock valued at $557,000 after buying an additional 200 shares during the last quarter. Point72 Asia Hong Kong Ltd acquired a new position in American Electric Power during the first quarter valued at approximately $105,000. Finally, Cambridge Trust Co. raised its position in American Electric Power by 60.3% in the first quarter. Cambridge Trust Co. now owns 6,340 shares of the utilities provider’s stock valued at $426,000 after buying an additional 2,385 shares during the last quarter. 70.77% of the stock is owned by institutional investors and hedge funds.

American Electric Power Company, Inc. (NYSE AEP) traded up 0.22% during mid-day trading on Friday, reaching $72.16. 2,871,369 shares of the company’s stock were exchanged. American Electric Power Company, Inc. has a 52 week low of $57.89 and a 52 week high of $72.97. The company has a market capitalization of $35.49 billion, a P/E ratio of 62.10 and a beta of 0.30. The company’s 50 day moving average price is $70.00 and its 200-day moving average price is $68.41.

American Electric Power (NYSE:AEP) last released its earnings results on Thursday, July 27th. The utilities provider reported $0.75 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by $0.07. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.70 billion. American Electric Power had a net margin of 3.60% and a return on equity of 10.32%. During the same quarter last year, the company posted $0.95 earnings per share. On average, equities research analysts expect that American Electric Power Company, Inc. will post $3.66 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 10th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend is Tuesday, August 8th. American Electric Power’s dividend payout ratio (DPR) is currently 203.45%.

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AEP has been the subject of several recent research reports. Zacks Investment Research raised shares of American Electric Power from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Morgan Stanley raised their price objective on shares of American Electric Power from $71.00 to $73.00 and gave the company an “equal weight” rating in a research note on Thursday, August 10th. Barclays PLC reaffirmed an “overweight” rating and issued a $76.00 target price (up previously from $71.00) on shares of American Electric Power in a report on Sunday, April 23rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $75.00 target price (up previously from $73.00) on shares of American Electric Power in a report on Friday, July 28th. Finally, BidaskClub cut shares of American Electric Power from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $72.17.

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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