Putnam FL Investment Management Co. Buys New Stake in American Electric Power Company, Inc. (AEP)

Putnam FL Investment Management Co. bought a new stake in shares of American Electric Power Company, Inc. (NYSE:AEP) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,799 shares of the utilities provider’s stock, valued at approximately $267,000.

Other large investors have also made changes to their positions in the company. Meeder Asset Management Inc. boosted its position in shares of American Electric Power by 188.7% during the third quarter. Meeder Asset Management Inc. now owns 5,333 shares of the utilities provider’s stock valued at $375,000 after buying an additional 3,486 shares during the period. Homrich & Berg boosted its holdings in shares of American Electric Power by 2.0% in the second quarter. Homrich & Berg now owns 16,034 shares of the utilities provider’s stock valued at $1,114,000 after purchasing an additional 321 shares during the period. Captrust Financial Advisors purchased a new stake in shares of American Electric Power in the second quarter valued at approximately $630,000. Neuberger Berman Group LLC boosted its holdings in shares of American Electric Power by 5.5% in the second quarter. Neuberger Berman Group LLC now owns 724,256 shares of the utilities provider’s stock valued at $50,314,000 after purchasing an additional 37,578 shares during the period. Finally, Raymond James Trust N.A. boosted its holdings in shares of American Electric Power by 3.4% in the third quarter. Raymond James Trust N.A. now owns 25,915 shares of the utilities provider’s stock valued at $1,820,000 after purchasing an additional 861 shares during the period. Institutional investors and hedge funds own 71.37% of the company’s stock.

American Electric Power Company, Inc. (AEP) traded down $0.38 during trading hours on Friday, reaching $76.38. 1,719,075 shares of the company’s stock traded hands, compared to its average volume of 2,321,888. American Electric Power Company, Inc. has a one year low of $57.89 and a one year high of $77.93. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.43 and a current ratio of 0.56. The stock has a market capitalization of $37,760.00, a price-to-earnings ratio of 22.24, a price-to-earnings-growth ratio of 4.50 and a beta of 0.29.

American Electric Power (NYSE:AEP) last posted its quarterly earnings results on Thursday, October 26th. The utilities provider reported $1.10 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.06). American Electric Power had a net margin of 12.21% and a return on equity of 9.67%. The business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.42 billion. During the same period in the previous year, the company posted $1.30 earnings per share. American Electric Power’s revenue for the quarter was down 12.8% compared to the same quarter last year. research analysts predict that American Electric Power Company, Inc. will post 3.62 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 10th will be paid a dividend of $0.62 per share. This is a positive change from American Electric Power’s previous quarterly dividend of $0.59. This represents a $2.48 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Thursday, November 9th. American Electric Power’s dividend payout ratio is presently 64.75%.

A number of brokerages recently issued reports on AEP. ValuEngine upgraded American Electric Power from a “hold” rating to a “buy” rating in a report on Tuesday. Royal Bank Of Canada reissued a “hold” rating and issued a $74.00 price objective on shares of American Electric Power in a research note on Monday, October 30th. Bank of America Corporation 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 for the company. Deutsche Bank AG downgraded shares of American Electric Power from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Finally, J P Morgan Chase & Co boosted their price objective on shares of American Electric Power to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, October 12th. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $73.91.

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American Electric Power 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.

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

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