Payden & Rygel Purchases 41,200 Shares of American Electric Power Company Inc (AEP)

Payden & Rygel boosted its holdings in American Electric Power Company Inc (NYSE:AEP) by 20.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 244,100 shares of the utilities provider’s stock after purchasing an additional 41,200 shares during the period. American Electric Power comprises about 1.7% of Payden & Rygel’s portfolio, making the stock its 21st largest holding. Payden & Rygel’s holdings in American Electric Power were worth $17,146,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. AMP Capital Investors Ltd raised its position in shares of American Electric Power by 5.5% in the 3rd quarter. AMP Capital Investors Ltd now owns 441,501 shares of the utilities provider’s stock valued at $31,012,000 after buying an additional 23,073 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of American Electric Power by 7.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 81,157 shares of the utilities provider’s stock valued at $5,700,000 after buying an additional 5,902 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of American Electric Power by 15.5% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 266,260 shares of the utilities provider’s stock valued at $18,781,000 after buying an additional 35,800 shares in the last quarter. ARGI Investment Services LLC grew its holdings in shares of American Electric Power by 7.3% during the 3rd quarter. ARGI Investment Services LLC now owns 13,126 shares of the utilities provider’s stock valued at $922,000 after purchasing an additional 888 shares during the last quarter. Finally, Nippon Life Global Investors Americas Inc. bought a new stake in shares of American Electric Power during the 3rd quarter valued at approximately $6,156,000. 71.04% of the stock is owned by institutional investors and hedge funds.

Shares of American Electric Power Company Inc (NYSE:AEP) traded down $0.08 during trading on Friday, hitting $73.57. 1,415,904 shares of the stock traded hands, compared to its average volume of 2,265,425. The company has a market capitalization of $36,227.36, a PE ratio of 19.26, a price-to-earnings-growth ratio of 4.29 and a beta of 0.30. American Electric Power Company Inc has a 1 year low of $61.82 and a 1 year high of $78.07. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.56 and a quick ratio of 0.43.

American Electric Power (NYSE:AEP) last released its quarterly earnings results on Thursday, October 26th. The utilities provider reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.06). The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.42 billion. American Electric Power had a net margin of 12.21% and a return on equity of 9.67%. The business’s revenue was down 12.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.30 EPS. analysts forecast that American Electric Power Company Inc will post 3.61 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Friday, November 10th were given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.37%. The ex-dividend date was Thursday, November 9th. This is a positive change from American Electric Power’s previous quarterly dividend of $0.59. American Electric Power’s payout ratio is currently 64.92%.

A number of equities research analysts have weighed in on the stock. ValuEngine lowered shares of American Electric Power from a “buy” rating to a “hold” rating in a report on Tuesday. Jefferies Group reaffirmed a “hold” rating and issued a $73.00 price objective on shares of American Electric Power in a research note on Tuesday, October 3rd. Bank of America assumed coverage on shares of American Electric Power in a research note on Tuesday, October 24th. They issued a “buy” rating and a $79.00 price objective on the stock. Deutsche Bank downgraded shares of American Electric Power from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Finally, JPMorgan Chase & Co. boosted their target price on shares of American Electric Power to $75.00 and gave the company a “neutral” rating in a research report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $74.82.

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American Electric Power Company Profile

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.

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

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