Welch Group LLC lessened its holdings in American Electric Power Company Inc (NYSE:AEP) by 11.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,883 shares of the utilities provider’s stock after selling 602 shares during the quarter. Welch Group LLC’s holdings in American Electric Power were worth $430,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Bogart Wealth LLC increased its holdings in American Electric Power by 8.8% in the second quarter. Bogart Wealth LLC now owns 31,838 shares of the utilities provider’s stock valued at $2,802,000 after buying an additional 2,569 shares during the last quarter. Orrstown Financial Services Inc. grew its holdings in shares of American Electric Power by 9.1% during the second quarter. Orrstown Financial Services Inc. now owns 7,583 shares of the utilities provider’s stock worth $667,000 after purchasing an additional 634 shares during the last quarter. Gyroscope Capital Management Group LLC grew its holdings in shares of American Electric Power by 9.4% during the second quarter. Gyroscope Capital Management Group LLC now owns 4,479 shares of the utilities provider’s stock worth $402,000 after purchasing an additional 385 shares during the last quarter. Nachman Norwood & Parrott Inc grew its holdings in shares of American Electric Power by 13.8% during the second quarter. Nachman Norwood & Parrott Inc now owns 3,302 shares of the utilities provider’s stock worth $291,000 after purchasing an additional 400 shares during the last quarter. Finally, CHURCHILL MANAGEMENT Corp grew its holdings in shares of American Electric Power by 55.0% during the second quarter. CHURCHILL MANAGEMENT Corp now owns 24,226 shares of the utilities provider’s stock worth $2,132,000 after purchasing an additional 8,596 shares during the last quarter. 73.53% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP Paul Chodak III sold 1,303 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $86.52, for a total transaction of $112,735.56. Following the completion of the sale, the executive vice president now owns 8,152 shares in the company, valued at $705,311.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Nicholas K. Akins sold 11,152 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $84.94, for a total transaction of $947,250.88. The disclosure for this sale can be found here. Insiders have sold 24,637 shares of company stock valued at $2,112,145 in the last quarter. Insiders own 0.16% of the company’s stock.

Several brokerages have issued reports on AEP. Morgan Stanley set a $18.00 price objective on PG&E and gave the stock a “hold” rating in a report on Friday, June 14th. Bank of America reaffirmed a “buy” rating and set a $43.00 price objective (up previously from $36.00) on shares of The Medicines in a report on Tuesday, July 9th. Wolfe Research set a $205.00 price objective on Raytheon and gave the stock a “buy” rating in a report on Friday, April 26th. UBS Group reaffirmed a “buy” rating on shares of Linde in a report on Friday, July 12th. Finally, Zacks Investment Research raised General Moly from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. American Electric Power currently has a consensus rating of “Buy” and a consensus target price of $87.45.

Shares of AEP stock traded down $0.13 during mid-day trading on Friday, hitting $88.95. 2,176,514 shares of the stock were exchanged, compared to its average volume of 1,726,079. American Electric Power Company Inc has a 12-month low of $68.92 and a 12-month high of $91.99. The company has a market capitalization of $43.87 billion, a PE ratio of 22.52, a price-to-earnings-growth ratio of 3.79 and a beta of 0.16. The firm’s fifty day moving average price is $89.93. The company has a quick ratio of 0.37, a current ratio of 0.49 and a debt-to-equity ratio of 1.29.

American Electric Power (NYSE:AEP) last announced its earnings results on Thursday, July 25th. The utilities provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.02. American Electric Power had a net margin of 12.53% and a return on equity of 10.69%. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $4.13 billion. During the same quarter in the prior year, the firm earned $1.01 earnings per share. The business’s quarterly revenue was down 10.0% compared to the same quarter last year. As a group, analysts anticipate that American Electric Power Company Inc will post 4.13 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $2.68 annualized dividend and a dividend yield of 3.01%. American Electric Power’s dividend payout ratio (DPR) is 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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