American Electric Power Company, Inc. (AEP) Shares Sold by Financial Counselors Inc.

Financial Counselors Inc. reduced its holdings in shares of American Electric Power Company, Inc. (NYSE:AEP) by 2.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 7,031 shares of the utilities provider’s stock after selling 213 shares during the period. Financial Counselors Inc.’s holdings in American Electric Power were worth $488,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AEP. BlackRock Inc. lifted its stake in shares of American Electric Power by 2,394.3% during the 1st quarter. BlackRock Inc. now owns 33,819,821 shares of the utilities provider’s stock worth $2,270,326,000 after acquiring an additional 32,463,953 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of American Electric Power by 35.2% during the 2nd quarter. Bank of Montreal Can now owns 4,366,510 shares of the utilities provider’s stock worth $303,342,000 after acquiring an additional 1,137,941 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of American Electric Power by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 34,128,589 shares of the utilities provider’s stock worth $2,291,051,000 after acquiring an additional 1,124,366 shares during the last quarter. Brookfield Asset Management Inc. bought a new stake in shares of American Electric Power during the 1st quarter worth approximately $56,864,000. Finally, Pioneer Investment Management Inc. lifted its stake in shares of American Electric Power by 13.6% during the 2nd quarter. Pioneer Investment Management Inc. now owns 5,360,563 shares of the utilities provider’s stock worth $372,398,000 after acquiring an additional 641,210 shares during the last quarter. 71.20% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Company, Inc. (AEP) opened at 73.11 on Wednesday. American Electric Power Company, Inc. has a one year low of $57.89 and a one year high of $74.59. The stock has a 50 day moving average price of $72.05 and a 200-day moving average price of $69.52. The stock has a market capitalization of $35.96 billion, a P/E ratio of 62.92 and a beta of 0.29.

American Electric Power (NYSE:AEP) last released its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.07). American Electric Power had a return on equity of 10.32% and a net margin of 3.60%. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same quarter last year, the company earned $0.95 earnings per share. Analysts anticipate that American Electric Power Company, Inc. will post $3.65 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Thursday, August 10th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date was Tuesday, August 8th. American Electric Power’s dividend payout ratio (DPR) is 203.45%.

A number of brokerages recently issued reports on AEP. BidaskClub lowered American Electric Power from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) lowered American Electric Power from a “buy” rating to a “neutral” rating and raised their price target for the stock from $68.00 to $70.00 in a research note on Monday, June 26th. Jefferies Group LLC reissued a “hold” rating and set a $70.00 price target on shares of American Electric Power in a research note on Wednesday, July 19th. Zacks Investment Research downgraded American Electric Power from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, Morgan Stanley restated an “equal weight” rating on shares of American Electric Power in a report on Monday, July 10th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. American Electric Power currently has an average rating of “Buy” and a consensus price target of $72.21.

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American Electric Power 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.

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Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

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