Fmr LLC Purchases 76,408 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Fmr LLC lifted its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 2.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,293,839 shares of the company’s stock after buying an additional 76,408 shares during the period. Fmr LLC owned about 0.66% of American Electric Power worth $278,626,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Amundi Asset Management US Inc. increased its holdings in American Electric Power by 73.1% during the 1st quarter. Amundi Asset Management US Inc. now owns 2,618,737 shares of the company’s stock worth $221,806,000 after purchasing an additional 1,106,285 shares in the last quarter. Federated Hermes Inc. increased its holdings in American Electric Power by 50.5% during the 1st quarter. Federated Hermes Inc. now owns 2,318,128 shares of the company’s stock worth $196,346,000 after purchasing an additional 777,759 shares in the last quarter. Bank of Montreal Can increased its holdings in American Electric Power by 103.2% during the 2nd quarter. Bank of Montreal Can now owns 1,232,615 shares of the company’s stock worth $103,613,000 after purchasing an additional 625,918 shares in the last quarter. SG Americas Securities LLC increased its holdings in American Electric Power by 120.1% during the 2nd quarter. SG Americas Securities LLC now owns 1,061,728 shares of the company’s stock worth $89,812,000 after purchasing an additional 579,449 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in American Electric Power by 250.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 745,387 shares of the company’s stock worth $63,134,000 after purchasing an additional 532,411 shares in the last quarter. Institutional investors and hedge funds own 73.60% of the company’s stock.

Shares of NASDAQ:AEP opened at $83.46 on Thursday. American Electric Power Company, Inc. has a 52-week low of $74.80 and a 52-week high of $94.21. The company has a market capitalization of $41.75 billion, a P/E ratio of 17.72, a price-to-earnings-growth ratio of 3.30 and a beta of 0.27. The company has a 50-day simple moving average of $86.90 and a 200 day simple moving average of $86.45. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.33 and a current ratio of 0.44.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Wednesday, July 21st. The company reported $1.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.04. American Electric Power had a net margin of 14.78% and a return on equity of 11.02%. The business had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same period last year, the business posted $1.08 EPS. American Electric Power’s revenue was up 8.6% on a year-over-year basis. As a group, equities analysts forecast that American Electric Power Company, Inc. will post 4.7 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 10th. Investors of record on Tuesday, August 10th were paid a $0.74 dividend. The ex-dividend date was Monday, August 9th. This represents a $2.96 annualized dividend and a yield of 3.55%. American Electric Power’s dividend payout ratio (DPR) is currently 66.67%.

A number of equities analysts have issued reports on AEP shares. Morgan Stanley lowered their target price on American Electric Power from $110.00 to $108.00 and set an “overweight” rating for the company in a report on Friday, September 17th. Wells Fargo & Company decreased their price objective on American Electric Power from $96.00 to $93.00 and set an “equal weight” rating for the company in a report on Friday, July 23rd. Finally, Bank of America upgraded American Electric Power from a “neutral” rating to a “buy” rating and set a $86.88 price objective for the company in a report on Monday, July 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $94.99.

In other American Electric Power news, CEO Nicholas K. Akins sold 2,100 shares of the firm’s stock in a transaction that occurred on Wednesday, September 1st. The shares were sold at an average price of $89.76, for a total transaction of $188,496.00. Following the completion of the sale, the chief executive officer now directly owns 98,672 shares in the company, valued at $8,856,798.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.14% of the company’s stock.

American Electric Power Profile

American Electric Power Co, Inc engages in the business of generation, transmission and distribution of electricity. It operates through the following segments: Vertically Integrated Utilities, Transmission & Distribution Utilities, AEP Transmission Holdco and Generation & Marketing. The Vertically Integrated Utilities segment engages in the generation, transmission and distribution of electricity for sale to retail and wholesale customers through assets owned and operated by its subsidiaries.

Read More: Hold Rating

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

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