Mark Sheptoff Financial Planning LLC raised its stake in American Electric Power Company, Inc. (NYSE:AEP) by 107.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,825 shares of the utilities provider’s stock after buying an additional 9,749 shares during the period. American Electric Power comprises approximately 0.9% of Mark Sheptoff Financial Planning LLC’s portfolio, making the stock its 29th largest position. Mark Sheptoff Financial Planning LLC’s holdings in American Electric Power were worth $1,308,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Brookfield Asset Management Inc. acquired a new position in shares of American Electric Power during the first quarter valued at about $56,864,000. Point72 Asia Hong Kong Ltd acquired a new position in shares of American Electric Power during the first quarter valued at about $105,000. Peapack Gladstone Financial Corp increased its position 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 valued at $557,000 after buying an additional 200 shares in the last quarter. Cambridge Trust Co. increased its position 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 valued at $426,000 after buying an additional 2,385 shares in the last quarter. Finally, Bank of The Ozarks increased its position 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 valued at $441,000 after buying an additional 68 shares in the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

American Electric Power Company, Inc. (NYSE:AEP) traded down 0.07% during midday trading on Thursday, reaching $73.70. The company’s stock had a trading volume of 498,005 shares. The firm has a 50-day moving average price of $70.54 and a 200 day moving average price of $68.74. The stock has a market capitalization of $36.25 billion, a price-to-earnings ratio of 63.43 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 $73.95.

American Electric Power (NYSE:AEP) last announced its earnings results on Thursday, July 27th. The utilities provider reported $0.75 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by $0.07. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company earned $0.95 EPS. Equities research analysts predict that American Electric Power Company, Inc. will post $3.66 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 10th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $2.36 annualized dividend and a dividend yield of 3.20%. American Electric Power’s dividend payout ratio is currently 203.45%.

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AEP has been the subject of several analyst reports. Zacks Investment Research upgraded American Electric Power from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Morgan Stanley boosted their price objective on American Electric Power from $71.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 10th. BidaskClub upgraded American Electric Power from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. BMO Capital Markets reiterated an “outperform” rating and set a $75.00 price objective (up from $73.00) on shares of American Electric Power in a research report on Friday, July 28th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $71.00 price objective on shares of American Electric Power in a research report on Wednesday, August 2nd. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. American Electric Power currently has a consensus rating of “Buy” and a consensus price target of $72.17.

American Electric Power Company 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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