Canada Pension Plan Investment Board Reduces Stake in American Electric Power Company, Inc. (AEP)

Canada Pension Plan Investment Board decreased its position in American Electric Power Company, Inc. (NYSE:AEP) by 19.6% during the second quarter, Holdings Channel reports. The firm owned 805,952 shares of the utilities provider’s stock after selling 196,300 shares during the period. Canada Pension Plan Investment Board’s holdings in American Electric Power were worth $55,989,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Huntington National Bank boosted its position in American Electric Power by 1.3% in the first quarter. Huntington National Bank now owns 65,602 shares of the utilities provider’s stock worth $4,404,000 after buying an additional 829 shares during the period. City Holding Co. boosted its position in American Electric Power by 0.8% in the first quarter. City Holding Co. now owns 4,838 shares of the utilities provider’s stock worth $325,000 after buying an additional 39 shares during the period. Boys Arnold & Co. Inc. boosted its position in American Electric Power by 0.4% in the first quarter. Boys Arnold & Co. Inc. now owns 27,812 shares of the utilities provider’s stock worth $1,867,000 after buying an additional 98 shares during the period. Bollard Group LLC boosted its position in American Electric Power by 25.4% in the first quarter. Bollard Group LLC now owns 329,254 shares of the utilities provider’s stock worth $22,103,000 after buying an additional 66,659 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in American Electric Power by 5.6% in the first quarter. Nisa Investment Advisors LLC now owns 70,270 shares of the utilities provider’s stock worth $4,717,000 after buying an additional 3,745 shares during the period. Institutional investors own 70.77% of the company’s stock.

Shares of American Electric Power Company, Inc. (AEP) opened at 71.52 on Wednesday. American Electric Power Company, Inc. has a 52 week low of $57.89 and a 52 week high of $72.97. The stock has a 50 day moving average price of $69.84 and a 200 day moving average price of $68.29. The firm has a market capitalization of $35.18 billion, a PE ratio of 61.55 and a beta of 0.30.

American Electric Power (NYSE:AEP) last posted its 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. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.70 billion. American Electric Power had a net margin of 3.60% and a return on equity of 10.32%. During the same quarter in the previous year, the firm posted $0.95 EPS. Equities analysts forecast that American Electric Power Company, Inc. will post $3.66 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 10th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $2.36 dividend on an annualized basis and a yield of 3.30%. American Electric Power’s dividend payout ratio is currently 203.45%.

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A number of research analysts have commented on the company. BidaskClub cut American Electric Power from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Goldman Sachs Group, Inc. (The) cut American Electric Power from a “buy” rating to a “neutral” rating and upped their price target for the stock from $68.00 to $70.00 in a research note on Monday, June 26th. Morgan Stanley upped 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. BMO Capital Markets restated an “outperform” rating and set a $75.00 price target (up from $73.00) on shares of American Electric Power in a research note on Friday, July 28th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $71.00 price target on shares of American Electric Power in a research note on Wednesday, August 2nd. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $72.17.

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.

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

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