Brave Asset Management Inc. held its stake in shares of American Electric Power Company, Inc. (NYSE:AEP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,414 shares of the utilities provider’s stock at the end of the second quarter. Brave Asset Management Inc.’s holdings in American Electric Power were worth $307,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of AEP. Brookfield Asset Management Inc. acquired a new stake in shares of American Electric Power during the first quarter worth $56,864,000. Peapack Gladstone Financial Corp boosted its stake in shares of American Electric Power by 2.5% in the first quarter. Peapack Gladstone Financial Corp now owns 8,295 shares of the utilities provider’s stock worth $557,000 after buying an additional 200 shares during the period. Bank of The Ozarks boosted its stake in shares of American Electric Power by 1.0% in the first quarter. Bank of The Ozarks now owns 6,561 shares of the utilities provider’s stock worth $441,000 after buying an additional 68 shares during the period. ST Germain D J Co. Inc. boosted its stake in shares of American Electric Power by 0.6% in the first quarter. ST Germain D J Co. Inc. now owns 5,416 shares of the utilities provider’s stock worth $364,000 after buying an additional 34 shares during the period. Finally, Cambridge Trust Co. boosted its stake in shares of American Electric Power by 60.3% in the first quarter. Cambridge Trust Co. now owns 6,340 shares of the utilities provider’s stock worth $426,000 after buying an additional 2,385 shares during the period. Institutional investors and hedge funds own 70.83% of the company’s stock.

Shares of American Electric Power Company, Inc. (NYSE AEP) opened at 70.56 on Friday. American Electric Power Company, Inc. has a 1-year low of $57.89 and a 1-year high of $72.97. The company’s 50 day moving average price is $69.86 and its 200-day moving average price is $68.09. The company has a market capitalization of $34.70 billion, a price-to-earnings ratio of 60.72 and a beta of 0.30.

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

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 10th will be issued a dividend of $0.59 per share. The ex-dividend date is Tuesday, August 8th. This represents a $2.36 dividend on an annualized basis and a yield of 3.34%. American Electric Power’s dividend payout ratio is presently 203.45%.

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A number of equities research analysts have commented on AEP shares. Mizuho reissued a “buy” rating and issued a $72.50 price objective on shares of American Electric Power in a research note on Wednesday, April 19th. Barclays PLC reaffirmed an “overweight” rating and set a $76.00 target price (up previously from $71.00) on shares of American Electric Power in a research report on Sunday, April 23rd. Zacks Investment Research cut American Electric Power from a “hold” rating to a “sell” rating in a research report on Friday, April 28th. Jefferies Group LLC lifted their target price on American Electric Power from $68.00 to $70.00 and gave the company a “hold” rating in a research report on Friday, April 28th. Finally, BidaskClub cut American Electric Power from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. American Electric Power currently has an average rating of “Hold” and an average target price of $72.17.

In other American Electric Power news, insider Paul Chodak III sold 1,110 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The stock was 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 SEC, which can be accessed through this link. 0.15% of the stock is owned by company insiders.

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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