Smith Affiliated Capital Corp. held its stake in American Electric Power Company, Inc. (NYSE:AEP) during the second quarter, Holdings Channel reports. The firm owned 2,700 shares of the utilities provider’s stock at the end of the second quarter. Smith Affiliated Capital Corp.’s holdings in American Electric Power were worth $188,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the company. Cadence Bank NA increased its stake in American Electric Power by 13.3% in the second quarter. Cadence Bank NA now owns 19,542 shares of the utilities provider’s stock worth $1,358,000 after buying an additional 2,300 shares during the period. Daiwa Securities Group Inc. increased its stake in American Electric Power by 2.6% in the second quarter. Daiwa Securities Group Inc. now owns 15,550 shares of the utilities provider’s stock worth $1,080,000 after buying an additional 400 shares during the period. Majedie Asset Management Ltd increased its stake in American Electric Power by 89.2% in the second quarter. Majedie Asset Management Ltd now owns 171,710 shares of the utilities provider’s stock worth $11,929,000 after buying an additional 80,972 shares during the period. Grove Bank & Trust increased its stake in American Electric Power by 3.7% in the second quarter. Grove Bank & Trust now owns 6,078 shares of the utilities provider’s stock worth $422,000 after buying an additional 219 shares during the period. Finally, Telos Capital Management Inc. increased its stake in American Electric Power by 0.7% in the second quarter. Telos Capital Management Inc. now owns 12,641 shares of the utilities provider’s stock worth $878,000 after buying an additional 91 shares during the period. 70.83% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Company, Inc. (NYSE AEP) opened at 70.56 on Friday. The company has a market cap of $34.70 billion, a PE ratio of 60.72 and a beta of 0.30. American Electric Power Company, Inc. has a 52 week low of $57.89 and a 52 week high of $72.97. The firm’s 50-day moving average is $69.86 and its 200-day moving average is $68.09.

American Electric Power (NYSE:AEP) last posted its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by $0.07. American Electric Power had a return on equity of 10.32% and a net margin of 3.60%. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same quarter last year, the company earned $0.95 earnings per share. On average, analysts expect that American Electric Power Company, Inc. will post $3.66 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 10th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Tuesday, August 8th. American Electric Power’s dividend payout ratio (DPR) is presently 203.45%.

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A number of research firms recently weighed in on AEP. Morgan Stanley lifted their target price on American Electric Power from $71.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Thursday. Royal Bank Of Canada reissued a “hold” rating and set a $71.00 target price on shares of American Electric Power in a research report on Wednesday, August 2nd. BidaskClub raised American Electric Power from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. BMO Capital Markets reissued an “outperform” rating and set a $75.00 target price (up from $73.00) on shares of American Electric Power in a research report on Friday, July 28th. Finally, Zacks Investment Research raised American Electric Power from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $72.17.

In other news, insider Paul Chodak III sold 1,110 shares of the stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $68.20, for a total transaction of $75,702.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.15% of the company’s stock.

About American Electric Power

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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