Wedbush Securities Inc. Has $666,000 Stake in American Electric Power Company, Inc. (AEP)

Wedbush Securities Inc. increased its stake in American Electric Power Company, Inc. (NYSE:AEP) by 4.4% during the second quarter, Holdings Channel reports. The fund owned 9,587 shares of the utilities provider’s stock after buying an additional 404 shares during the period. Wedbush Securities Inc.’s holdings in American Electric Power were worth $666,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. raised 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 valued at $2,270,326,000 after buying an additional 32,463,953 shares during the last quarter. Bank of Montreal Can raised 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 valued at $303,342,000 after buying an additional 1,137,941 shares during the last quarter. Vanguard Group Inc. raised 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 valued at $2,291,051,000 after buying an additional 1,124,366 shares during the last quarter. Wells Fargo & Company MN raised 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 valued at $514,810,000 after buying an additional 1,069,388 shares during the last quarter. Finally, Brookfield Asset Management Inc. bought a new position in American Electric Power during the first quarter valued at about $56,864,000. Institutional investors own 70.77% of the company’s stock.

American Electric Power Company, Inc. (NYSE:AEP) opened at 72.00 on Friday. The company has a 50 day moving average price of $69.93 and a 200 day moving average price of $68.34. The firm has a market capitalization of $35.41 billion, a price-to-earnings ratio of 61.96 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 released 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. American Electric Power had a return on equity of 10.32% and a net margin of 3.60%. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same period in the prior year, the business earned $0.95 EPS. Analysts anticipate that American Electric Power Company, Inc. will post $3.66 earnings per share for the current fiscal year.

The firm also recently announced 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 3.28%. American Electric Power’s dividend payout ratio is currently 203.45%.

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Several equities analysts have recently issued reports on AEP shares. Jefferies Group LLC boosted 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. Zacks Investment Research lowered American Electric Power from a “hold” rating to a “sell” rating in a research report on Friday, April 28th. Barclays PLC restated an “overweight” rating and set a $76.00 target price (up from $71.00) on shares of American Electric Power in a research report on Sunday, April 23rd. BidaskClub lowered American Electric Power from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Finally, Goldman Sachs Group, Inc. (The) lowered American Electric Power from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $68.00 to $70.00 in a research report on Monday, June 26th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $72.17.

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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