W.G. Shaheen & Associates DBA Whitney & Co Has $3.08 Million Position in American Electric Power Company, Inc. (NYSE:AEP)

W.G. Shaheen & Associates DBA Whitney & Co boosted its stake in American Electric Power Company, Inc. (NYSE:AEP) by 6.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 45,830 shares of the utilities provider’s stock after buying an additional 2,905 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in American Electric Power were worth $3,077,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. TIAA CREF Investment Management LLC boosted its stake in American Electric Power by 10.7% in the first quarter. TIAA CREF Investment Management LLC now owns 3,490,060 shares of the utilities provider’s stock worth $234,288,000 after buying an additional 336,108 shares in the last quarter. Teachers Advisors LLC boosted its stake in American Electric Power by 3.8% in the first quarter. Teachers Advisors LLC now owns 1,302,854 shares of the utilities provider’s stock worth $87,461,000 after buying an additional 47,213 shares in the last quarter. Homrich & Berg boosted its stake in American Electric Power by 5.3% in the first quarter. Homrich & Berg now owns 15,713 shares of the utilities provider’s stock worth $1,055,000 after buying an additional 796 shares in the last quarter. Citizens Financial Group Inc. RI boosted its stake in American Electric Power by 6.4% in the first quarter. Citizens Financial Group Inc. RI now owns 5,070 shares of the utilities provider’s stock worth $340,000 after buying an additional 307 shares in the last quarter. Finally, Rench Wealth Management Inc. boosted its stake in American Electric Power by 4.3% in the first quarter. Rench Wealth Management Inc. now owns 33,311 shares of the utilities provider’s stock worth $2,236,000 after buying an additional 1,370 shares in the last quarter. 70.53% of the stock is currently owned by institutional investors.

American Electric Power Company, Inc. (AEP) traded down 0.34% on Friday, reaching $70.43. The company’s stock had a trading volume of 2,570,941 shares. American Electric Power Company, Inc. has a 1-year low of $57.89 and a 1-year high of $72.97. The company has a market capitalization of $34.64 billion, a price-to-earnings ratio of 60.61 and a beta of 0.30. The firm’s 50 day moving average price is $70.16 and its 200-day moving average price is $67.55.

American Electric Power (NYSE:AEP) last posted its quarterly 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. The firm 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 10.33%. During the same quarter in the previous year, the firm posted $0.95 EPS. Equities analysts forecast that American Electric Power Company, Inc. will post $3.66 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 10th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $2.36 annualized dividend and a yield of 3.35%. American Electric Power’s payout ratio is presently 203.45%.

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A number of research firms have recently commented on AEP. BidaskClub cut American Electric Power from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. BMO Capital Markets reissued an “outperform” rating and issued a $75.00 target price (up from $73.00) on shares of American Electric Power in a research note on Friday. Goldman Sachs Group, Inc. (The) cut American Electric Power from a “buy” rating to a “neutral” rating and increased their target price for the stock from $68.00 to $70.00 in a research note on Monday, June 26th. Jefferies Group LLC increased their target price on American Electric Power from $68.00 to $70.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. Finally, Zacks Investment Research cut American Electric Power from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $72.00.

In other American Electric Power news, insider Paul Chodak III sold 1,110 shares of the business’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $68.20, for a total transaction of $75,702.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.15% of the stock is currently owned by insiders.

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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