American Electric Power Company Inc (AEP) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

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BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its position in American Electric Power Company Inc (NYSE:AEP) by 27.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 110,599 shares of the utilities provider’s stock after selling 40,847 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in American Electric Power were worth $7,839,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AEP. BlackRock Inc. raised its stake in American Electric Power by 0.5% during the third quarter. BlackRock Inc. now owns 35,301,165 shares of the utilities provider’s stock valued at $2,502,146,000 after buying an additional 164,878 shares during the last quarter. Alliancebernstein L.P. raised its stake in American Electric Power by 1.9% during the third quarter. Alliancebernstein L.P. now owns 6,469,015 shares of the utilities provider’s stock valued at $458,524,000 after buying an additional 122,077 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in American Electric Power by 1.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,536,015 shares of the utilities provider’s stock valued at $392,393,000 after buying an additional 64,801 shares during the last quarter. Bank of New York Mellon Corp raised its stake in American Electric Power by 14.2% during the third quarter. Bank of New York Mellon Corp now owns 4,549,939 shares of the utilities provider’s stock valued at $322,500,000 after buying an additional 564,041 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in American Electric Power by 5.2% during the third quarter. Jennison Associates LLC now owns 4,534,740 shares of the utilities provider’s stock valued at $321,422,000 after buying an additional 226,044 shares during the last quarter. Institutional investors own 72.72% of the company’s stock.

American Electric Power stock opened at $79.32 on Friday. The firm has a market capitalization of $38.67 billion, a price-to-earnings ratio of 21.55, a price-to-earnings-growth ratio of 3.47 and a beta of 0.01. American Electric Power Company Inc has a 12 month low of $62.71 and a 12 month high of $79.77. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.56 and a quick ratio of 0.46.

American Electric Power (NYSE:AEP) last posted its earnings results on Thursday, October 25th. The utilities provider reported $1.26 EPS for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.05. The business had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.26 billion. American Electric Power had a return on equity of 10.78% and a net margin of 12.14%. During the same quarter last year, the company earned $1.10 EPS. Equities research analysts forecast that American Electric Power Company Inc will post 3.96 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 9th will be issued a $0.67 dividend. This is a positive change from American Electric Power’s previous quarterly dividend of $0.62. The ex-dividend date is Thursday, November 8th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.38%. American Electric Power’s dividend payout ratio (DPR) is presently 72.83%.

In other American Electric Power news, insider Lisa M. Barton sold 881 shares of American Electric Power stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $77.55, for a total value of $68,321.55. Following the completion of the sale, the insider now owns 581 shares of the company’s stock, valued at approximately $45,056.55. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul Chodak III sold 847 shares of American Electric Power stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $76.47, for a total value of $64,770.09. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by company insiders.

AEP has been the subject of a number of recent research reports. Guggenheim upgraded American Electric Power from a “neutral” rating to a “buy” rating in a research note on Monday, September 10th. They noted that the move was a valuation call. Zacks Investment Research cut American Electric Power from a “buy” rating to a “hold” rating in a research note on Thursday, November 29th. Morgan Stanley set a $80.00 price objective on American Electric Power and gave the company a “buy” rating in a research note on Thursday, October 11th. Wells Fargo & Co lifted their price objective on American Electric Power from $77.00 to $81.00 and gave the company an “outperform” rating in a research note on Monday, September 17th. Finally, ValuEngine upgraded American Electric Power from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $76.56.

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American Electric Power Company Profile

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

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

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