BerganKDV Wealth Management LLC Acquires 247 Shares of American Electric Power Company, Inc. (NYSE:AEP)

BerganKDV Wealth Management LLC boosted its position in American Electric Power Company, Inc. (NYSE:AEP) by 1.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,960 shares of the utilities provider’s stock after buying an additional 247 shares during the period. BerganKDV Wealth Management LLC’s holdings in American Electric Power were worth $1,039,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in American Electric Power by 2,394.3% in the first quarter. BlackRock Inc. now owns 33,819,821 shares of the utilities provider’s stock worth $2,270,326,000 after buying an additional 32,463,953 shares in the last quarter. Bank of Montreal Can increased its position in American Electric Power by 35.2% in the second quarter. Bank of Montreal Can now owns 4,366,510 shares of the utilities provider’s stock worth $303,342,000 after buying an additional 1,137,941 shares in the last quarter. Vanguard Group Inc. increased its position in American Electric Power by 3.4% in the first quarter. Vanguard Group Inc. now owns 34,128,589 shares of the utilities provider’s stock worth $2,291,051,000 after buying an additional 1,124,366 shares in the last quarter. Wells Fargo & Company MN increased its position in American Electric Power by 16.2% in the first quarter. Wells Fargo & Company MN now owns 7,668,864 shares of the utilities provider’s stock worth $514,810,000 after buying an additional 1,069,388 shares in the last quarter. Finally, Brookfield Asset Management Inc. purchased a new position in American Electric Power during the first quarter worth approximately $56,864,000. 70.83% of the stock is currently owned by institutional investors.

Shares of American Electric Power Company, Inc. (NYSE:AEP) opened at 70.56 on Friday. The company has a 50-day moving average price of $69.86 and a 200 day moving average price of $68.09. American Electric Power Company, Inc. has a 52-week low of $57.89 and a 52-week high of $72.97. The firm has a market capitalization of $34.70 billion, a PE ratio of 60.72 and a beta of 0.30.

American Electric Power (NYSE:AEP) last announced its earnings results on Thursday, July 27th. The utilities provider reported $0.75 EPS for the quarter, missing the 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 previous year, the firm earned $0.95 earnings per share. Analysts expect that American Electric Power Company, Inc. will post $3.66 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Stockholders 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 3.34%. The ex-dividend date is Tuesday, August 8th. American Electric Power’s payout ratio is currently 203.45%.

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A number of research analysts have commented on AEP shares. 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 report on Friday, April 28th. Zacks Investment Research cut American Electric Power from a “hold” rating to a “sell” rating in a research report on Friday, April 28th. Barclays PLC reiterated an “overweight” rating and set a $76.00 price target (up from $71.00) on shares of American Electric Power in a research report on Sunday, April 23rd. Mizuho reiterated a “buy” rating and set a $72.50 price target on shares of American Electric Power in a research report on Wednesday, April 19th. Finally, BidaskClub cut American Electric Power from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $72.17.

In other news, insider Paul Chodak III sold 1,110 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $68.20, for a total value of $75,702.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.15% of the stock is owned by insiders.

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.

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

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