Private Asset Management Inc. Has $221,000 Stake in American Electric Power Company, Inc. (AEP)

Private Asset Management Inc. raised its stake in American Electric Power Company, Inc. (NYSE:AEP) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,175 shares of the utilities provider’s stock after buying an additional 19 shares during the period. Private Asset Management Inc.’s holdings in American Electric Power were worth $221,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of AEP. Point72 Asia Hong Kong Ltd acquired a new position in shares of American Electric Power during the first quarter valued at approximately $105,000. Chicago Partners Investment Group LLC increased its position 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. Zions Bancorporation increased its position in shares of American Electric Power by 1.3% in the first quarter. Zions Bancorporation now owns 1,680 shares of the utilities provider’s stock valued at $113,000 after buying an additional 21 shares in the last quarter. Thompson Davis & CO. Inc. increased its position 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. Finally, Guardian Life Insurance Co. of America increased 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 in the last quarter. Institutional investors own 70.77% of the company’s stock.

American Electric Power Company, Inc. (NYSE AEP) traded up 0.22% during trading on Friday, hitting $72.16. The stock had a trading volume of 2,871,369 shares. American Electric Power Company, Inc. has a 52 week low of $57.89 and a 52 week high of $72.97. The stock has a market capitalization 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 posted its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.75 earnings per share (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 the consensus estimate 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 period in the prior year, the business posted $0.95 EPS. On average, equities analysts expect that American Electric Power Company, Inc. will post $3.66 earnings per share for the current fiscal year.

The firm also recently disclosed 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. This represents a $2.36 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend is Tuesday, August 8th. American Electric Power’s dividend payout ratio is 203.45%.

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Several brokerages have recently commented on AEP. Goldman Sachs Group, Inc. (The) downgraded American Electric Power from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $68.00 to $70.00 in a research note on Monday, June 26th. Royal Bank Of Canada reiterated a “hold” rating and set a $71.00 target price on shares of American Electric Power in a research note on Wednesday, August 2nd. Jefferies Group LLC boosted their price target on American Electric Power from $68.00 to $70.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Morgan Stanley boosted their price target on 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. Finally, BidaskClub downgraded American Electric Power from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. American Electric Power currently has a consensus rating of “Hold” and a consensus 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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