American Electric Power Company, Inc. (AEP) Holdings Boosted by TIAA CREF Investment Management LLC

TIAA CREF Investment Management LLC grew its position in shares of American Electric Power Company, Inc. (NYSE:AEP) by 5.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,690,934 shares of the utilities provider’s stock after buying an additional 200,874 shares during the quarter. TIAA CREF Investment Management LLC owned 0.75% of American Electric Power worth $256,409,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Teachers Advisors LLC increased its stake in shares of American Electric Power by 6.6% during the 2nd quarter. Teachers Advisors LLC now owns 1,389,222 shares of the utilities provider’s stock worth $96,509,000 after purchasing an additional 86,368 shares during the last quarter. SVA Plumb Wealth Management LLC increased its stake in shares of American Electric Power by 3.0% during the 2nd quarter. SVA Plumb Wealth Management LLC now owns 41,855 shares of the utilities provider’s stock worth $2,908,000 after purchasing an additional 1,200 shares during the last quarter. Raymond James Trust N.A. increased its stake in shares of American Electric Power by 9.2% during the 2nd quarter. Raymond James Trust N.A. now owns 25,054 shares of the utilities provider’s stock worth $1,740,000 after purchasing an additional 2,113 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of American Electric Power by 1.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 31,769 shares of the utilities provider’s stock worth $2,208,000 after purchasing an additional 484 shares during the last quarter. Finally, Dai Ichi Life Insurance Company Ltd increased its stake in shares of American Electric Power by 25.3% during the 2nd quarter. Dai Ichi Life Insurance Company Ltd now owns 173,881 shares of the utilities provider’s stock worth $12,080,000 after purchasing an additional 35,106 shares during the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have recently issued reports on AEP shares. KeyCorp restated a “buy” rating and set a $73.00 price target on shares of American Electric Power in a research note 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 raised their price target on shares of 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. 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 restated an “outperform” rating and set a $75.00 price target (up previously from $73.00) on shares of American Electric Power in a research note on Friday, July 28th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $72.21.

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American Electric Power Company, Inc. (NYSE AEP) traded down 1.69% on Tuesday, reaching $73.29. 723,778 shares of the company were exchanged. American Electric Power Company, Inc. has a 12-month low of $57.89 and a 12-month high of $74.49. The firm has a 50-day moving average of $71.98 and a 200 day moving average of $69.48. The firm has a market capitalization of $36.05 billion, a P/E ratio of 63.07 and a beta of 0.29.

American Electric Power (NYSE:AEP) last released its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.07). American Electric Power had a return on equity of 10.32% and a net margin of 3.60%. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the previous year, the business posted $0.95 earnings per share. On average, equities analysts predict that American Electric Power Company, Inc. will post $3.65 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Thursday, August 10th were given a $0.59 dividend. The ex-dividend date was Tuesday, August 8th. This represents a $2.36 annualized dividend and a yield of 3.17%. American Electric Power’s payout ratio is presently 203.45%.

American Electric Power 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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