American Electric Power Company, Inc. (AEP) Stake Boosted by Cadence Bank NA

Cadence Bank NA boosted its position in American Electric Power Company, Inc. (NYSE:AEP) by 13.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,542 shares of the utilities provider’s stock after buying an additional 2,300 shares during the period. Cadence Bank NA’s holdings in American Electric Power were worth $1,358,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. DnB Asset Management AS increased its stake in shares of American Electric Power by 2.5% in the first quarter. DnB Asset Management AS now owns 29,000 shares of the utilities provider’s stock worth $1,947,000 after buying an additional 700 shares in the last quarter. Gateway Investment Advisers LLC increased its stake in shares of American Electric Power by 8.8% in the first quarter. Gateway Investment Advisers LLC now owns 931,359 shares of the utilities provider’s stock worth $62,522,000 after buying an additional 75,059 shares in the last quarter. Farmers & Merchants Investments Inc. increased its stake in shares of American Electric Power by 3.0% in the first quarter. Farmers & Merchants Investments Inc. now owns 69,055 shares of the utilities provider’s stock worth $4,636,000 after buying an additional 2,000 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of American Electric Power during the first quarter worth $829,000. Finally, Cullinan Associates Inc. increased its stake in shares of American Electric Power by 116.4% in the first quarter. Cullinan Associates Inc. now owns 15,800 shares of the utilities provider’s stock worth $1,061,000 after buying an additional 8,500 shares in the last quarter. 70.83% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Company, Inc. (NYSE:AEP) opened at 70.56 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 50 day moving average of $69.86 and a 200 day moving average of $68.09. The company has a market cap of $34.70 billion, a PE ratio of 60.72 and a beta of 0.30.

American Electric Power (NYSE:AEP) last released 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. American Electric Power had a net margin of 3.60% and a return on equity of 10.32%. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the previous year, the company posted $0.95 EPS. On average, analysts anticipate that American Electric Power Company, Inc. will post $3.66 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 10th will be issued a dividend of $0.59 per share. The ex-dividend date is Tuesday, August 8th. This represents a $2.36 annualized dividend and a yield of 3.34%. American Electric Power’s payout ratio is presently 203.45%.

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A number of brokerages recently weighed in on AEP. Goldman Sachs Group, Inc. (The) downgraded shares of American Electric Power from a “buy” rating to a “neutral” rating and raised their target price for the company from $68.00 to $70.00 in a research note on Monday, June 26th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $71.00 target price on shares of American Electric Power in a research note on Wednesday, August 2nd. Jefferies Group LLC raised their target price on shares of American Electric Power from $68.00 to $70.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Morgan Stanley raised their target price on shares of American Electric Power from $71.00 to $73.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, BidaskClub downgraded shares of American Electric Power from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $72.17.

In other American Electric Power news, insider Paul Chodak III sold 1,110 shares of the stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $68.20, for a total value of $75,702.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate 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.

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

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