Pettyjohn Wood & White Inc. Trims Stock Holdings in American Electric Power Company Inc (NYSE:AEP)

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Pettyjohn Wood & White Inc. decreased its stake in American Electric Power Company Inc (NYSE:AEP) by 4.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,372 shares of the utilities provider’s stock after selling 260 shares during the quarter. Pettyjohn Wood & White Inc.’s holdings in American Electric Power were worth $473,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Geode Capital Management LLC increased its position in American Electric Power by 8.0% in the fourth quarter. Geode Capital Management LLC now owns 5,942,257 shares of the utilities provider’s stock worth $443,292,000 after buying an additional 438,632 shares in the last quarter. Pictet Asset Management Ltd. grew its position in shares of American Electric Power by 1.0% during the first quarter. Pictet Asset Management Ltd. now owns 3,109,922 shares of the utilities provider’s stock worth $260,456,000 after purchasing an additional 29,898 shares in the last quarter. California Public Employees Retirement System grew its position in shares of American Electric Power by 18.4% during the first quarter. California Public Employees Retirement System now owns 3,105,375 shares of the utilities provider’s stock worth $260,075,000 after purchasing an additional 481,496 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of American Electric Power by 6.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,106,930 shares of the utilities provider’s stock worth $176,455,000 after purchasing an additional 131,313 shares in the last quarter. Finally, Swiss National Bank grew its position in shares of American Electric Power by 2.7% during the first quarter. Swiss National Bank now owns 2,014,289 shares of the utilities provider’s stock worth $168,697,000 after purchasing an additional 53,800 shares in the last quarter. Institutional investors and hedge funds own 73.47% of the company’s stock.

Several research firms recently issued reports on AEP. Wells Fargo & Co increased their target price on American Electric Power from $89.00 to $93.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Bank of America reiterated a “buy” rating and set a $98.00 target price (up previously from $93.00) on shares of American Electric Power in a research report on Tuesday, July 9th. Zacks Investment Research upgraded American Electric Power from a “sell” rating to a “hold” rating and set a $96.00 target price for the company in a research report on Thursday, July 11th. Wolfe Research set a $89.00 target price on American Electric Power and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Morgan Stanley cut their target price on American Electric Power from $93.00 to $91.00 and set an “equal weight” rating for the company in a research report on Friday. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $88.33.

In other news, EVP Paul Chodak III sold 1,303 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $86.52, for a total value of $112,735.56. Following the completion of the sale, the executive vice president now directly owns 8,152 shares of the company’s stock, valued at approximately $705,311.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian X. Tierney sold 4,458 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $89.73, for a total value of $400,016.34. Following the completion of the sale, the vice president now directly owns 39,745 shares of the company’s stock, valued at $3,566,318.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,513 shares of company stock valued at $669,398. 0.16% of the stock is owned by corporate insiders.

American Electric Power stock traded down $0.13 during midday trading on Friday, reaching $90.23. 1,972,100 shares of the stock traded hands, compared to its average volume of 2,229,977. The stock’s fifty day moving average is $89.62 and its 200-day moving average is $85.70. American Electric Power Company Inc has a 12 month low of $68.92 and a 12 month high of $91.99. The stock has a market cap of $44.56 billion, a P/E ratio of 22.84, a PEG ratio of 3.78 and a beta of 0.13. The company has a quick ratio of 0.36, a current ratio of 0.49 and a debt-to-equity ratio of 1.29.

American Electric Power (NYSE:AEP) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.02. American Electric Power had a return on equity of 10.69% and a net margin of 12.53%. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same period in the prior year, the company earned $1.01 earnings per share. The firm’s revenue was down 10.0% on a year-over-year basis. On average, equities analysts predict that American Electric Power Company Inc will post 4.13 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend is Thursday, August 8th. American Electric Power’s payout ratio is presently 67.85%.

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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