Bank of Hawaii Lowers Position in American Electric Power Co. (AEP)

Bank of Hawaii reduced its position in shares of American Electric Power Co. (NYSE:AEP) by 5.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,488 shares of the company’s stock after selling 1,636 shares during the period. Bank of Hawaii’s holdings in American Electric Power were worth $1,997,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bank of Montreal Can bought a new stake in American Electric Power during the second quarter valued at about $261,970,000. State Street Corp increased its stake in American Electric Power by 7.5% in the first quarter. State Street Corp now owns 25,117,238 shares of the company’s stock valued at $1,667,787,000 after buying an additional 1,758,073 shares during the period. Renaissance Technologies LLC increased its stake in American Electric Power by 64.3% in the first quarter. Renaissance Technologies LLC now owns 2,332,500 shares of the company’s stock valued at $154,878,000 after buying an additional 912,500 shares during the period. PGGM Investments increased its stake in American Electric Power by 64.0% in the second quarter. PGGM Investments now owns 1,210,748 shares of the company’s stock valued at $84,861,000 after buying an additional 472,448 shares during the period. Finally, Energy Income Partners LLC increased its stake in American Electric Power by 57.5% in the first quarter. Energy Income Partners LLC now owns 1,039,446 shares of the company’s stock valued at $69,019,000 after buying an additional 379,386 shares during the period. Hedge funds and other institutional investors own 68.66% of the company’s stock.

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

Shares of American Electric Power Co. (NYSE:AEP) traded down 0.19% on Wednesday, reaching $63.25. The company’s stock had a trading volume of 1,253,646 shares. The company has a market cap of $31.10 billion, a PE ratio of 15.61 and a beta of 0.23. American Electric Power Co. has a 52-week low of $53.30 and a 52-week high of $71.32. The firm has a 50 day moving average of $64.19 and a 200 day moving average of $66.00.

American Electric Power (NYSE:AEP) last announced its earnings results on Thursday, July 28th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. The firm had revenue of $3.90 billion for the quarter, compared to analyst estimates of $4.01 billion. American Electric Power had a net margin of 12.50% and a return on equity of 9.54%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.88 EPS. Analysts predict that American Electric Power Co. will post $3.69 earnings per share for the current year.

AEP has been the subject of several recent analyst reports. KeyCorp reiterated an “outperform” rating and set a $72.50 price target (up previously from $69.00) on shares of American Electric Power in a research note on Saturday, July 2nd. Zacks Investment Research downgraded American Electric Power from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. Citigroup Inc. increased their target price on American Electric Power from $61.00 to $68.00 and gave the company a “neutral” rating in a research note on Wednesday, July 20th. Goldman Sachs Group Inc. upgraded American Electric Power from a “neutral” rating to a “buy” rating and increased their target price for the company from $71.00 to $73.00 in a research note on Tuesday, July 26th. Finally, Hilliard Lyons downgraded American Electric Power from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $68.17.

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 Company’s segments include Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing.

5 Day Chart for NYSE:AEP

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