Ameritas Investment Partners Inc. lowered its stake in shares of American Electric Power Company, Inc. (NYSE:AEP) by 3.8% during the first quarter, Holdings Channel reports. The fund owned 11,311 shares of the utilities provider’s stock after selling 444 shares during the period. Ameritas Investment Partners Inc.’s holdings in American Electric Power Company were worth $759,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. boosted its position in American Electric Power Company by 0.3% in the first quarter. Thompson Davis & CO. Inc. now owns 1,741 shares of the utilities provider’s stock valued at $117,000 after buying an additional 6 shares during the last quarter. Sowell Financial Services LLC bought a new position in American Electric Power Company during the fourth quarter valued at $113,000. Kistler Tiffany Companies LLC boosted its position in American Electric Power Company by 19.8% in the first quarter. Kistler Tiffany Companies LLC now owns 2,028 shares of the utilities provider’s stock valued at $136,000 after buying an additional 335 shares during the last quarter. Pacific Center for Financial Services bought a new position in American Electric Power Company during the fourth quarter valued at $137,000. Finally, Parallel Advisors LLC acquired a new stake in shares of American Electric Power Company during the fourth quarter worth approximately $153,000. 70.89% of the stock is owned by hedge funds and other institutional investors.

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

Shares of American Electric Power Company, Inc. (AEP) opened at 72.42 on Friday. The stock has a 50 day moving average of $69.90 and a 200-day moving average of $65.91. American Electric Power Company, Inc. has a 52 week low of $57.89 and a 52 week high of $72.72. The stock has a market capitalization of $35.61 billion, a PE ratio of 50.79 and a beta of 0.31.

American Electric Power Company (NYSE:AEP) last posted its earnings results on Thursday, April 27th. The utilities provider reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.97 by $0.01. The firm had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.85 billion. American Electric Power Company had a net margin of 4.31% and a return on equity of 10.78%. American Electric Power Company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period last year, the firm earned $1.02 earnings per share. On average, equities research analysts expect that American Electric Power Company, Inc. will post $3.66 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Wednesday, May 10th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 3.26%. The ex-dividend date was Monday, May 8th. American Electric Power Company’s dividend payout ratio (DPR) is 166.20%.

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A number of analysts have commented on the stock. BidaskClub cut shares of American Electric Power Company from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Barclays PLC reaffirmed a “buy” rating and set a $71.00 target price on shares of American Electric Power Company in a report on Monday, February 20th. Mizuho reaffirmed a “buy” rating and set a $72.50 target price on shares of American Electric Power Company in a report on Wednesday, April 19th. Jefferies Group LLC upped their target price on shares of American Electric Power Company from $65.00 to $68.00 and gave the company a “hold” rating in a report on Tuesday, March 14th. Finally, Deutsche Bank AG upped their target price on shares of American Electric Power Company from $70.00 to $72.00 and gave the company a “buy” rating in a report on Tuesday, April 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $71.60.

In other news, insider Paul Chodak III sold 1,110 shares of American Electric Power Company stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $68.20, for a total transaction of $75,702.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is owned by insiders.

About American Electric Power Company

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.

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