Bank of New York Mellon Corp Has $411.11 Million Stock Holdings in American Electric Power Company, Inc. $AEP

Bank of New York Mellon Corp raised its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 0.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,654,322 shares of the company’s stock after purchasing an additional 30,138 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.68% of American Electric Power worth $411,111,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Soroban Capital Partners LP raised its stake in American Electric Power by 176.3% in the 2nd quarter. Soroban Capital Partners LP now owns 4,004,686 shares of the company’s stock worth $415,526,000 after purchasing an additional 2,555,415 shares in the last quarter. Amundi boosted its stake in American Electric Power by 26.1% in the second quarter. Amundi now owns 3,694,659 shares of the company’s stock valued at $381,510,000 after buying an additional 765,258 shares in the last quarter. State Street Corp grew its holdings in shares of American Electric Power by 2.3% during the 2nd quarter. State Street Corp now owns 28,516,466 shares of the company’s stock valued at $2,958,869,000 after purchasing an additional 653,712 shares during the last quarter. Invesco Ltd. lifted its stake in shares of American Electric Power by 5.9% in the 2nd quarter. Invesco Ltd. now owns 7,802,211 shares of the company’s stock valued at $809,557,000 after acquiring an additional 432,441 shares during the last quarter. Finally, National Pension Service raised its position in American Electric Power by 22.8% in the second quarter. National Pension Service now owns 1,894,580 shares of the company’s stock valued at $196,582,000 after purchasing an additional 352,198 shares during the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AEP shares. Morgan Stanley reiterated an “overweight” rating and set a $125.00 price target on shares of American Electric Power in a report on Wednesday, January 21st. UBS Group reduced their price target on shares of American Electric Power from $114.00 to $107.00 and set a “sell” rating for the company in a report on Wednesday, December 17th. JPMorgan Chase & Co. boosted their price objective on American Electric Power from $121.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Bank of America downgraded shares of American Electric Power from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $131.00 to $122.00 in a research report on Monday, January 12th. Finally, Williams Trading set a $137.00 price target on American Electric Power in a research report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $127.39.

American Electric Power Stock Performance

Shares of AEP stock opened at $119.21 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.53 and a current ratio of 0.69. The firm has a market cap of $63.67 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 2.84 and a beta of 0.63. American Electric Power Company, Inc. has a 52 week low of $97.32 and a 52 week high of $124.80. The firm’s 50-day simple moving average is $117.27 and its two-hundred day simple moving average is $114.85.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($0.01). The company had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.65 billion. American Electric Power had a return on equity of 11.00% and a net margin of 17.23%.The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.85 EPS. As a group, equities analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th will be issued a $0.95 dividend. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $3.80 annualized dividend and a yield of 3.2%. American Electric Power’s dividend payout ratio (DPR) is 55.39%.

Insider Transactions at American Electric Power

In other American Electric Power news, Director Benjamin G. S. Fowke III sold 5,000 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $115.07, for a total transaction of $575,350.00. Following the sale, the director directly owned 25,898 shares of the company’s stock, valued at $2,980,082.86. This represents a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.07% of the company’s stock.

About American Electric Power

American Electric Power (NASDAQ: AEP) is a major investor-owned electric utility headquartered in Columbus, Ohio. The company is primarily engaged in the generation, transmission and distribution of electricity, operating a diverse portfolio of power plants and an extensive high-voltage transmission network. AEP serves retail customers through its regulated utility subsidiaries and provides wholesale power and grid services across multiple regional markets in the United States.

Operations span the full utility value chain: AEP owns and operates generation assets that include fossil-fuel, natural gas, nuclear and hydropower facilities, and it has been adding renewable resources to its mix.