Cambridge Investment Research Advisors Inc. Buys 2,621 Shares of American Electric Power Company Inc (AEP)

Cambridge Investment Research Advisors Inc. lifted its stake in American Electric Power Company Inc (NYSE:AEP) by 2.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 92,852 shares of the utilities provider’s stock after acquiring an additional 2,621 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in American Electric Power were worth $6,581,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FormulaFolio Investments LLC increased its position in American Electric Power by 23.0% during the 2nd quarter. FormulaFolio Investments LLC now owns 3,985 shares of the utilities provider’s stock valued at $276,000 after buying an additional 745 shares in the last quarter. Palladium Partners LLC increased its position in American Electric Power by 8.9% during the 3rd quarter. Palladium Partners LLC now owns 9,210 shares of the utilities provider’s stock valued at $653,000 after buying an additional 752 shares in the last quarter. Douglass Winthrop Advisors LLC increased its position in American Electric Power by 5.2% during the 2nd quarter. Douglass Winthrop Advisors LLC now owns 15,941 shares of the utilities provider’s stock valued at $1,104,000 after buying an additional 782 shares in the last quarter. Hanson McClain Inc. increased its position in American Electric Power by 18.7% during the 3rd quarter. Hanson McClain Inc. now owns 5,004 shares of the utilities provider’s stock valued at $355,000 after buying an additional 787 shares in the last quarter. Finally, Valeo Financial Advisors LLC increased its position in American Electric Power by 59.4% during the 2nd quarter. Valeo Financial Advisors LLC now owns 2,145 shares of the utilities provider’s stock valued at $152,000 after buying an additional 799 shares in the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

American Electric Power stock opened at $75.32 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.10. The stock has a market cap of $37.05 billion and a price-to-earnings ratio of 18.46. American Electric Power Company Inc has a fifty-two week low of $62.71 and a fifty-two week high of $78.07.

American Electric Power (NYSE:AEP) last posted its quarterly earnings results on Thursday, October 25th. The utilities provider reported $1.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.05. The business had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.26 billion. American Electric Power had a return on equity of 10.78% and a net margin of 12.14%. During the same quarter in the previous year, the business earned $1.10 EPS. On average, research analysts forecast that American Electric Power Company Inc will post 3.95 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 9th will be paid a $0.67 dividend. This is an increase from American Electric Power’s previous quarterly dividend of $0.62. The ex-dividend date is Thursday, November 8th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.56%. American Electric Power’s dividend payout ratio is presently 67.39%.

Several research analysts recently issued reports on the company. Bank of America upped their target price on American Electric Power from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, October 26th. ValuEngine raised American Electric Power from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Zacks Investment Research raised American Electric Power from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research report on Monday, October 15th. Morgan Stanley set a $80.00 target price on American Electric Power and gave the company a “buy” rating in a research report on Thursday, October 11th. Finally, Wells Fargo & Co upped their target price on American Electric Power from $77.00 to $81.00 and gave the company an “outperform” rating in a research report on Monday, September 17th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. American Electric Power has a consensus rating of “Buy” and an average price target of $76.03.

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American Electric Power Profile

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

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

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