Los Angeles Capital Management & Equity Research Inc. Has $17.31 Million Holdings in American Electric Power Company, Inc. (NYSE:AEP)

Los Angeles Capital Management & Equity Research Inc. trimmed its holdings in American Electric Power Company, Inc. (NYSE:AEP) by 0.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 249,119 shares of the utilities provider’s stock after selling 300 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned 0.05% of American Electric Power worth $17,306,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. boosted 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 worth $2,270,326,000 after buying an additional 32,463,953 shares during the period. Bank of Montreal Can boosted 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 worth $303,342,000 after buying an additional 1,137,941 shares during the period. Vanguard Group Inc. boosted 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 worth $2,291,051,000 after buying an additional 1,124,366 shares during the period. Wells Fargo & Company MN boosted 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 worth $514,810,000 after buying an additional 1,069,388 shares during the period. Finally, Brookfield Asset Management Inc. bought a new stake in shares of American Electric Power during the 1st quarter worth $56,864,000. 71.20% of the stock is owned by institutional investors.

AEP has been the subject of several recent analyst reports. KeyCorp reaffirmed a “buy” rating and set a $73.00 price objective on shares of American Electric Power in a report on Friday, September 1st. Zacks Investment Research upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Morgan Stanley upped their target price on shares of American Electric Power from $71.00 to $73.00 and gave the company an “equal weight” rating in a research note on Thursday, August 10th. BidaskClub upgraded shares of American Electric Power from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $75.00 target price (up from $73.00) on shares of American Electric Power in a research note on Friday, July 28th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. American Electric Power has an average rating of “Buy” and a consensus target price of $72.23.

American Electric Power Company, Inc. (NYSE AEP) traded down 0.05% during midday trading on Friday, hitting $72.86. 1,224,729 shares of the stock traded hands. American Electric Power Company, Inc. has a 12-month low of $57.89 and a 12-month high of $74.59. The firm’s 50 day moving average is $72.37 and its 200-day moving average is $69.61. The stock has a market capitalization of $35.84 billion, a PE ratio of 62.70 and a beta of 0.29.

American Electric Power (NYSE:AEP) last posted its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.07). The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate 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 company posted $0.95 EPS. On average, analysts anticipate that American Electric Power Company, Inc. will post $3.65 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Thursday, August 10th were paid a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $2.36 annualized dividend and a yield of 3.24%. American Electric Power’s dividend payout ratio is currently 203.45%.

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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 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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