Gateway Investment Advisers LLC Increased American Elec Pwr INC (NYSE:AEP) by $12.75 Million as Shares Rose


Gateway Investment Advisers Llc increased its stake in American Elec Pwr Inc (NYSE:AEP) by 22.16% based on its latest 2016Q2 regulatory filing with the SEC. Gateway Investment Advisers Llc bought 193,146 shares as the company’s stock rose 13.84% with the market. The institutional investor held 1.06M shares of the public utilities company at the end of 2016Q2, valued at $70.71M, up from 871,775 at the end of the previous reported quarter. Gateway Investment Advisers Llc who had been investing in American Elec Pwr Inc for a number of months, seems to be bullish on the $31.89B market cap company. The stock is down 1.31% or $0.85 hitting $63.86, despite the positive news. About 1.79 million shares traded hands. American Electric Power Company Inc (NYSE:AEP) has risen 3.55% since February 8, 2016 and is uptrending. It has underperformed by 12.94% the S&P500.

Gateway Investment Advisers Llc, which manages about $12.58B and $11.54 billion US Long portfolio, decreased its stake in Apple Inc (NASDAQ:AAPL) by 193,975 shares to 3.64M shares, valued at $396.61M in 2016Q2, according to the filing. It also reduced its holding in Microsoft Corp (NASDAQ:MSFT) by 146,054 shares in the quarter, leaving it with 5.28 million shares, and cut its stake in Du Pont E I De Nemours & Co (NYSE:DD).

Gateway Investment Advisers Llc is a Ohio-based institutional investor with more than $12.58 billion AUM in June, 2014. Taken from Gateway Investment Advisers latest Adv, the fund reported to have 20 full and part-time employees. Among which 5 performing investment advisory and research functions. The institutional investor had between 26-100 clients.

The institutional sentiment decreased to 1.03 in Q2 2016. Its down 0.18, from 1.21 in 2016Q1. The ratio dived, as 51 funds sold all AEP shares owned while 259 reduced positions. 57 funds bought stakes while 263 increased positions. They now own 328.57 million shares or 5.28% less from 346.89 million shares in 2016Q1.

Huff W R Asset Management Co Llc De holds 2.54% of its portfolio in AEP for 43,275 shares. Fukoku Mutual Life Insurance Co owns 158,500 shares or 2.17% of their US portfolio. Moreover, Hgk Asset Management Inc has 2.13% invested in the company for 203,664 shares. The California-based Main Street Research Llc has invested 2.13% in the stock. Bridgecreek Investment Management Llc, a Oklahoma-based fund reported 92,233 shares.

Out of 11 analysts covering American Electric Power Company Inc. (NYSE:AEP), 7 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 64% are positive. American Electric Power Company Inc. has been the topic of 29 analyst reports since September 17, 2015 according to StockzIntelligence Inc. Barclays Capital maintained the stock on July 29 with “Overweight” rating.

American Electric Power Company, Inc. is a public utility holding firm that owns, directly or indirectly, all of the outstanding common stock of its public utility subsidiaries and varying percentages of other subsidiaries. The company has a market cap of $31.89 billion. The Company’s divisions include Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing. It has a 18.24 P/E ratio. AEP’s vertically integrated utility activities are engaged in the generation, transmission and distribution of electricity for sale to retail and wholesale customers.

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