Truvestments Capital LLC purchased a new stake in American Electric Power Company Inc (NYSE:AEP) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,420 shares of the utilities provider’s stock, valued at approximately $237,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AEP. Thrivent Financial for Lutherans grew its position in shares of American Electric Power by 4.5% in the 1st quarter. Thrivent Financial for Lutherans now owns 27,274 shares of the utilities provider’s stock valued at $1,871,000 after buying an additional 1,177 shares during the last quarter. 6 Meridian bought a new stake in shares of American Electric Power during the 1st quarter valued at about $456,000. Rockefeller Capital Management L.P. bought a new stake in shares of American Electric Power during the 1st quarter valued at about $508,000. Optimum Investment Advisors bought a new stake in shares of American Electric Power during the 1st quarter valued at about $141,000. Finally, Toronto Dominion Bank boosted its position in shares of American Electric Power by 25.2% during the 1st quarter. Toronto Dominion Bank now owns 265,277 shares of the utilities provider’s stock valued at $18,192,000 after purchasing an additional 53,346 shares in the last quarter. Hedge funds and other institutional investors own 72.51% of the company’s stock.

Several equities research analysts recently commented on AEP shares. Scotiabank assumed coverage on American Electric Power in a research report on Tuesday, July 24th. They set a “hold” rating and a $72.00 target price on the stock. Wells Fargo & Co upped their price target on American Electric Power from $77.00 to $81.00 and gave the stock an “outperform” rating in a research note on Monday, September 17th. Guggenheim raised American Electric Power from a “neutral” rating to a “buy” rating in a research note on Monday, September 10th. They noted that the move was a valuation call. Zacks Investment Research downgraded American Electric Power from a “hold” rating to a “sell” rating in a research note on Wednesday, June 27th. Finally, Morgan Stanley set a $80.00 price target on American Electric Power and gave the stock a “buy” rating in a research note on Thursday. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $75.92.

Shares of American Electric Power stock traded down $0.32 on Friday, hitting $70.90. The company had a trading volume of 2,851,519 shares, compared to its average volume of 3,010,920. The company has a market cap of $34.94 billion, a PE ratio of 19.27, a price-to-earnings-growth ratio of 3.26 and a beta of 0.10. American Electric Power Company Inc has a 1 year low of $62.71 and a 1 year high of $78.07. The company has a quick ratio of 0.40, a current ratio of 0.50 and a debt-to-equity ratio of 1.05.

American Electric Power (NYSE:AEP) last issued its quarterly earnings data on Wednesday, July 25th. The utilities provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.88 by $0.13. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.85 billion. American Electric Power had a return on equity of 10.50% and a net margin of 12.09%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 earnings per share. As a group, research analysts anticipate that American Electric Power Company Inc will post 3.89 EPS for the current year.

About American Electric Power

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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