Lowe Brockenbrough & Co. Inc. Holds Position in American Electric Power Company, Inc. (AEP)

Lowe Brockenbrough & Co. Inc. maintained its position in American Electric Power Company, Inc. (NYSE:AEP) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 bought and sold shares of the stock. Gulf International Bank UK Ltd raised its position in American Electric Power by 2.3% in the first quarter. Gulf International Bank UK Ltd now owns 153,404 shares of the utilities provider’s stock worth $10,298,000 after buying an additional 3,500 shares in the last quarter. Douglass Winthrop Advisors LLC raised its position in American Electric Power by 13.7% in the first quarter. Douglass Winthrop Advisors LLC now owns 13,320 shares of the utilities provider’s stock worth $894,000 after buying an additional 1,600 shares in the last quarter. Creative Planning raised its position in American Electric Power by 5.4% in the first quarter. Creative Planning now owns 65,215 shares of the utilities provider’s stock worth $4,378,000 after buying an additional 3,319 shares in the last quarter. CHURCHILL MANAGEMENT Corp raised its position in American Electric Power by 4.4% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 40,308 shares of the utilities provider’s stock worth $2,706,000 after buying an additional 1,699 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. raised its position in American Electric Power by 2.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 819,729 shares of the utilities provider’s stock worth $55,022,000 after buying an additional 19,245 shares in the last quarter. Institutional investors own 70.83% of the company’s stock.

Shares of American Electric Power Company, Inc. (NYSE:AEP) opened at 71.39 on Tuesday. The stock has a market cap of $35.11 billion, a P/E ratio of 61.44 and a beta of 0.30. American Electric Power Company, Inc. has a 12-month low of $57.89 and a 12-month high of $72.97. The company’s 50-day moving average is $70.10 and its 200-day moving average is $67.73.

American Electric Power (NYSE:AEP) last announced 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 during the quarter, compared to analyst estimates of $3.70 billion. American Electric Power had a return on equity of 10.32% and a net margin of 3.60%. During the same period in the prior year, the firm earned $0.95 EPS. On average, 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. Shareholders of record on Thursday, August 10th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Tuesday, August 8th. American Electric Power’s payout ratio is 203.45%.

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A number of research analysts have commented on the stock. BidaskClub lowered shares of American Electric Power from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Goldman Sachs Group, Inc. (The) lowered shares of American Electric Power from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $68.00 to $70.00 in a research note on Monday, June 26th. BMO Capital Markets restated an “outperform” rating and issued a $75.00 price objective (up from $73.00) on shares of American Electric Power in a research note on Friday, July 28th. Royal Bank Of Canada restated a “hold” rating and issued a $71.00 price objective on shares of American Electric Power in a research note on Wednesday, August 2nd. Finally, Zacks Investment Research upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $72.09.

In other American Electric Power news, insider Paul Chodak III sold 1,110 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $68.20, for a total value of $75,702.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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.