Lowe Brockenbrough & Co. Inc. Maintains Stake in American Electric Power Company, Inc. (AEP)

Lowe Brockenbrough & Co. Inc. continued to hold its position in shares of American Electric Power Company, Inc. (NYSE:AEP) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,002 shares of the utilities provider’s stock at the end of the first quarter. Lowe Brockenbrough & Co. Inc.’s holdings in American Electric Power were worth $269,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AEP. Point72 Asia Hong Kong Ltd purchased a new position in shares of American Electric Power during the first quarter valued at about $105,000. Chicago Partners Investment Group LLC boosted 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 during the period. Zions Bancorporation boosted 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 during the period. Thompson Davis & CO. Inc. boosted 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 during the period. Finally, 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 period. 70.50% of the stock is currently owned by institutional investors.

Shares of American Electric Power Company, Inc. (AEP) opened at 68.70 on Friday. 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 market cap of $33.78 billion, a price-to-earnings ratio of 48.18 and a beta of 0.30. The stock’s 50 day moving average price is $70.60 and its 200 day moving average price is $67.29.

American Electric Power (NYSE:AEP) last issued its earnings results on Thursday, April 27th. The utilities provider reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by $0.01. The firm had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.85 billion. American Electric Power had a return on equity of 10.78% and a net margin of 4.31%. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.02 EPS. Analysts forecast that American Electric Power Company, Inc. will post $3.66 earnings per share for the current year.

A number of research firms have weighed in on AEP. Morgan Stanley restated an “equal weight” rating on shares of American Electric Power in a report on Monday, July 10th. Zacks Investment Research lowered American Electric Power from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. BidaskClub lowered American Electric Power from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Jefferies Group LLC restated a “hold” rating and set a $70.00 target price on shares of American Electric Power in a report on Wednesday. Finally, Goldman Sachs Group, Inc. (The) lowered American Electric Power from a “buy” rating to a “neutral” rating and upped their target price for the stock from $68.00 to $70.00 in a report on Monday, June 26th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $71.73.

In related news, insider Paul Chodak III sold 1,110 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $68.20, for a total transaction of $75,702.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.15% of the company’s stock.

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.