Chevy Chase Trust Holdings Inc. Has $57.89 Million Position in American Electric Power Company, Inc. (NYSE:AEP)

Chevy Chase Trust Holdings Inc. boosted its stake in shares of American Electric Power Company, Inc. (NYSE:AEP) by 1.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 833,375 shares of the utilities provider’s stock after buying an additional 13,646 shares during the period. Chevy Chase Trust Holdings Inc. owned 0.17% of American Electric Power worth $57,894,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of AEP. Chicago Partners Investment Group LLC increased its stake in shares of American Electric Power by 0.3% in the first quarter. Chicago Partners Investment Group LLC now owns 1,599 shares of the utilities provider’s stock valued at $107,000 after buying an additional 5 shares in the last quarter. Thompson Davis & CO. Inc. increased its stake in shares of American Electric Power by 0.3% in the first quarter. Thompson Davis & CO. Inc. now owns 1,741 shares of the utilities provider’s stock valued at $117,000 after buying an additional 6 shares in the last quarter. Jackson Grant Investment Advisers Inc. boosted its position in shares of American Electric Power by 0.5% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 2,812 shares of the utilities provider’s stock valued at $189,000 after buying an additional 13 shares during the last quarter. Guardian Life Insurance Co. of America boosted its position in shares of American Electric Power by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,897 shares of the utilities provider’s stock valued at $127,000 after buying an additional 13 shares during the last quarter. Finally, Smith Moore & CO. boosted its position in shares of American Electric Power by 0.4% in the first quarter. Smith Moore & CO. now owns 3,383 shares of the utilities provider’s stock valued at $227,000 after buying an additional 15 shares during the last quarter. Institutional investors own 70.77% of the company’s stock.

American Electric Power Company, Inc. (NYSE:AEP) traded up 0.22% on Friday, hitting $72.16. 2,871,369 shares of the stock were exchanged. American Electric Power Company, Inc. has a 12 month low of $57.89 and a 12 month high of $72.97. The firm has a market cap of $35.49 billion, a P/E ratio of 62.10 and a beta of 0.30. The company has a 50-day moving average of $70.00 and a 200 day moving average of $68.41.

American Electric Power (NYSE:AEP) last announced its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.82 by $0.07. American Electric Power had a net margin of 3.60% and a return on equity of 10.32%. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same period in the prior year, the company posted $0.95 EPS. Equities research analysts expect that American Electric Power Company, Inc. will post $3.66 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 10th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis 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 is currently 203.45%.

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AEP has been the topic of several recent research reports. BidaskClub cut shares of American Electric Power from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Morgan Stanley reaffirmed an “equal weight” rating on shares of American Electric Power in a research report on Monday, July 10th. Zacks Investment Research raised shares of American Electric Power from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Jefferies Group LLC reissued a “hold” rating and set a $70.00 target price on shares of American Electric Power in a research report on Wednesday, July 19th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $71.00 target price on shares of American Electric Power in a research report on Wednesday, August 2nd. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target 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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