Jackson Grant Investment Advisers Inc. Grows Holdings in American Electric Power Company, Inc. (AEP)

Jackson Grant Investment Advisers Inc. increased its stake in American Electric Power Company, Inc. (NYSE:AEP) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,824 shares of the utilities provider’s stock after buying an additional 12 shares during the period. Jackson Grant Investment Advisers Inc.’s holdings in American Electric Power were worth $196,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of AEP. BlackRock Inc. lifted its holdings in shares of American Electric Power by 2,394.3% during the 1st 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 period. Bank of Montreal Can lifted its holdings in shares of American Electric Power by 35.2% during the 2nd 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 period. Vanguard Group Inc. lifted its holdings in shares of American Electric Power by 3.4% during the 1st 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 period. Wells Fargo & Company MN lifted its holdings in shares of American Electric Power by 16.2% during the 1st 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 period. Finally, Brookfield Asset Management Inc. bought a new position in shares of American Electric Power during the 1st quarter valued at $56,864,000. Institutional investors own 71.20% of the company’s stock.

Shares of American Electric Power Company, Inc. (NYSE:AEP) opened at 70.57 on Friday. The company has a market cap of $34.71 billion, a P/E ratio of 60.73 and a beta of 0.29. The stock’s 50 day moving average is $72.53 and its 200 day moving average is $69.78. American Electric Power Company, Inc. has a 1-year low of $57.89 and a 1-year high of $74.59.

American Electric Power (NYSE:AEP) last announced its earnings results on Thursday, July 27th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.07). The business had revenue of $3.60 billion for 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 quarter in the previous year, the firm posted $0.95 EPS. On average, analysts predict that American Electric Power Company, Inc. will post $3.65 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Thursday, August 10th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date was Tuesday, August 8th. American Electric Power’s payout ratio is currently 203.45%.

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A number of equities research analysts have issued reports on the company. Morgan Stanley increased their price target on American Electric Power from $71.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 10th. Royal Bank Of Canada reiterated a “hold” rating and issued a $71.00 price target on shares of American Electric Power in a research note on Wednesday, August 2nd. Mizuho lowered American Electric Power from a “buy” rating to a “hold” rating and set a $73.00 price target for the company. in a research note on Friday. BidaskClub upgraded American Electric Power from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Finally, BMO Capital Markets restated an “outperform” rating and set a $75.00 price objective (up previously from $73.00) on shares of American Electric Power in a research report on Friday, July 28th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. American Electric Power currently has an average rating of “Hold” and a consensus target price of $72.27.

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.

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

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