American Electric Power Company, Inc. (AEP) Stake Increased by Gamble Jones Investment Counsel

Gamble Jones Investment Counsel raised its stake in American Electric Power Company, Inc. (NYSE:AEP) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,722 shares of the utilities provider’s stock after buying an additional 9 shares during the period. Gamble Jones Investment Counsel’s holdings in American Electric Power were worth $884,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in AEP. Chicago Partners Investment Group LLC increased its position in 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. Thompson Davis & CO. Inc. increased its position in 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. Jackson Grant Investment Advisers Inc. increased its position in American Electric Power by 0.5% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 2,812 shares of the utilities provider’s stock valued at $189,000 after buying an additional 13 shares during the period. Guardian Life Insurance Co. of America increased its position in 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. Finally, Alpha Windward LLC increased its position in American Electric Power by 0.4% in the second quarter. Alpha Windward LLC now owns 3,131 shares of the utilities provider’s stock valued at $218,000 after buying an additional 13 shares during the period. Hedge funds and other institutional investors own 70.83% of the company’s stock.

American Electric Power Company, Inc. (NYSE:AEP) opened at 70.56 on Friday. The stock has a 50 day moving average price of $69.86 and a 200-day moving average price of $68.09. The stock has a market capitalization of $34.70 billion, a P/E ratio of 60.72 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.

American Electric Power (NYSE:AEP) last issued its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by $0.07. American Electric Power had a net margin of 3.60% and a return on equity of 10.32%. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the prior year, the firm earned $0.95 earnings per share. Equities research analysts expect that American Electric Power Company, Inc. will post $3.66 EPS for the current year.

The company also recently declared 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. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $2.36 annualized dividend and a yield of 3.34%. American Electric Power’s dividend payout ratio is 203.45%.

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Several research firms recently weighed in on AEP. BidaskClub downgraded American Electric Power from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. 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 report on Friday, April 28th. Goldman Sachs Group, Inc. (The) downgraded 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 report on Monday, June 26th. Mizuho reiterated a “buy” rating and set a $72.50 target price on shares of American Electric Power in a research report on Wednesday, April 19th. Finally, Zacks Investment Research downgraded American Electric Power from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $72.17.

In related 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 sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.15% of the company’s stock.

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.

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

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