Edgestream Partners L.P. Acquires New Stake in American Electric Power Company, Inc. (NYSE:AEP)

Edgestream Partners L.P. bought a new stake in American Electric Power Company, Inc. (NYSE:AEP) during the first quarter, Holdings Channel reports. The institutional investor bought 7,615 shares of the utilities provider’s stock, valued at approximately $511,000.

Other large investors have also made changes to their positions in the company. Chicago Partners Investment Group LLC increased its stake in shares of American Electric Power Company by 0.3% in the first quarter. Chicago Partners Investment Group LLC now owns 1,599 shares of the utilities provider’s stock worth $107,000 after buying an additional 5 shares in the last quarter. Thompson Davis & CO. Inc. increased its stake in shares of American Electric Power Company by 0.3% in the first quarter. Thompson Davis & CO. Inc. now owns 1,741 shares of the utilities provider’s stock worth $117,000 after buying an additional 6 shares in the last quarter. Guardian Life Insurance Co. of America increased its stake in shares of American Electric Power Company by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,897 shares of the utilities provider’s stock worth $127,000 after buying an additional 13 shares in the last quarter. Kistler Tiffany Companies LLC increased its stake in shares of American Electric Power Company by 19.8% in the first quarter. Kistler Tiffany Companies LLC now owns 2,028 shares of the utilities provider’s stock worth $136,000 after buying an additional 335 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new stake in shares of American Electric Power Company during the first quarter worth approximately $168,000. 70.50% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Company, Inc. (AEP) opened at 68.17 on Monday. American Electric Power Company, Inc. has a 52-week low of $57.89 and a 52-week high of $72.97. The company has a 50 day moving average of $70.83 and a 200-day moving average of $66.67. The stock has a market capitalization of $33.52 billion, a P/E ratio of 47.81 and a beta of 0.30.

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

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AEP has been the topic of a number of recent analyst reports. Jefferies Group LLC increased their price objective on shares of American Electric Power Company from $68.00 to $70.00 and gave the company a “hold” rating in a research report on Friday, April 28th. Zacks Investment Research downgraded shares of American Electric Power Company from a “hold” rating to a “sell” rating in a research report on Friday, April 28th. Deutsche Bank AG increased their price objective on shares of American Electric Power Company from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Tuesday, April 11th. Barclays PLC reissued an “overweight” rating and issued a $76.00 price objective (up from $71.00) on shares of American Electric Power Company in a research report on Sunday, April 23rd. Finally, Mizuho reissued a “buy” rating and issued a $72.50 price objective on shares of American Electric Power Company in a research report on Wednesday, April 19th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $71.73.

In related news, insider Paul Chodak III sold 1,110 shares of American Electric Power Company stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is currently owned by insiders.

About American Electric Power Company

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.

Want to see what other hedge funds are holding AEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Electric Power Company, Inc. (NYSE:AEP).

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

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