American Electric Power Company, Inc. (AEP) Shares Sold by Laurel Wealth Advisors Inc.

Laurel Wealth Advisors Inc. reduced its position in shares of American Electric Power Company, Inc. (NYSE:AEP) by 0.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 23,653 shares of the utilities provider’s stock after selling 205 shares during the period. Laurel Wealth Advisors Inc.’s holdings in American Electric Power were worth $1,587,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Brookfield Asset Management Inc. purchased a new position in American Electric Power during the first quarter worth $56,864,000. TNB Financial purchased a new position in American Electric Power during the first quarter worth $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 worth $557,000 after buying an additional 200 shares during the period. Point72 Asia Hong Kong Ltd purchased a new position in American Electric Power during the first quarter worth $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 worth $426,000 after buying an additional 2,385 shares during the period. 70.77% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Company, Inc. (NYSE:AEP) traded up 0.22% on Friday, hitting $72.16. The stock had a trading volume of 2,871,369 shares. The company has a market cap of $35.49 billion, a PE ratio of 62.10 and a beta of 0.30. American Electric Power Company, Inc. has a one year low of $57.89 and a one year high of $72.97. The stock 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 earnings results on Thursday, July 27th. The utilities provider reported $0.75 earnings per share for the quarter, missing the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the prior year, the business earned $0.95 EPS. Equities analysts expect that American Electric Power Company, Inc. will post $3.66 earnings per share for the current fiscal year.

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

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AEP has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Morgan Stanley boosted their target price on shares of American Electric Power from $71.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 10th. Barclays PLC restated an “overweight” rating and set a $76.00 target price (up from $71.00) on shares of American Electric Power in a research report on Sunday, April 23rd. BMO Capital Markets restated an “outperform” rating and set a $75.00 target price (up from $73.00) on shares of American Electric Power in a research report on Friday, July 28th. Finally, BidaskClub lowered shares of American Electric Power from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. American Electric Power presently has an average rating of “Hold” and an average target price of $72.17.

About American Electric Power

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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