American Electric Power Company, Inc. (AEP) Position Cut by Probity Advisors Inc.

Probity Advisors Inc. cut its stake in shares of American Electric Power Company, Inc. (NYSE:AEP) by 2.1% during the second quarter, Holdings Channel reports. The fund owned 14,346 shares of the utilities provider’s stock after selling 306 shares during the period. Probity Advisors Inc.’s holdings in American Electric Power were worth $997,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Ledyard National Bank increased its stake in shares of American Electric Power by 52.6% in the second quarter. Ledyard National Bank now owns 1,450 shares of the utilities provider’s stock valued at $101,000 after buying an additional 500 shares during the last quarter. Point72 Asia Hong Kong Ltd purchased a new stake in shares of American Electric Power during the first quarter valued at approximately $105,000. Chicago Partners Investment Group LLC increased its stake in shares of American Electric Power by 0.3% in the first quarter. Chicago Partners Investment Group LLC now owns 1,599 shares of the utilities provider’s stock valued at $107,000 after buying an additional 5 shares during the last quarter. Zions Bancorporation increased its stake in shares of American Electric Power by 1.3% in the first quarter. Zions Bancorporation now owns 1,680 shares of the utilities provider’s stock valued at $113,000 after buying an additional 21 shares during the last quarter. Finally, Thompson Davis & CO. Inc. increased its stake in shares of American Electric Power by 0.3% in the first quarter. Thompson Davis & CO. Inc. now owns 1,741 shares of the utilities provider’s stock valued at $117,000 after buying an additional 6 shares during the last quarter. 70.83% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Company, Inc. (NYSE:AEP) opened at 70.96 on Thursday. The company’s 50-day moving average is $69.93 and its 200 day moving average is $68.01. American Electric Power Company, Inc. has a one year low of $57.89 and a one year high of $72.97. The firm has a market cap of $34.90 billion, a PE ratio of 61.07 and a beta of 0.30.

American Electric Power (NYSE:AEP) last posted its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, missing the 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 business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same period in the previous year, the business posted $0.95 EPS. Equities analysts anticipate that American Electric Power Company, Inc. will post $3.66 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Thursday, August 10th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 3.33%. The ex-dividend date is Tuesday, August 8th. American Electric Power’s payout ratio is currently 203.45%.

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AEP has been the subject of several recent analyst reports. Mizuho reaffirmed a “buy” rating and issued a $72.50 target price on shares of American Electric Power in a research note on Wednesday, April 19th. BidaskClub downgraded shares of American Electric Power from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Morgan Stanley reaffirmed an “equal weight” rating on shares of American Electric Power in a research note on Monday, July 10th. Zacks Investment Research raised shares of American Electric Power from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $70.00 target price on shares of American Electric Power in a research note on Wednesday, July 19th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. American Electric Power has an average rating of “Hold” and a consensus price target of $72.09.

In related news, insider Paul Chodak III sold 1,110 shares of American Electric Power 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.15% of the company’s stock.

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.

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 (NYSE:AEP)

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