Smith Salley & Associates raised its stake in American Electric Power Company, Inc. (NYSE:AEP) by 0.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 6,630 shares of the utilities provider’s stock after buying an additional 13 shares during the period. Smith Salley & Associates’ holdings in American Electric Power were worth $460,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Chicago Partners Investment Group LLC boosted its stake in shares of American Electric Power by 0.3% in the first quarter. Chicago Partners Investment Group LLC now owns 1,599 shares of the utilities provider’s stock valued at $107,000 after buying an additional 5 shares during the last quarter. Thompson Davis & CO. Inc. boosted its stake in shares of American Electric Power by 0.3% in the first quarter. Thompson Davis & CO. Inc. now owns 1,741 shares of the utilities provider’s stock valued at $117,000 after buying an additional 6 shares during the last quarter. Jackson Grant Investment Advisers Inc. boosted its stake in shares of American Electric Power by 0.5% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 2,812 shares of the utilities provider’s stock valued at $189,000 after buying an additional 13 shares during the last quarter. Guardian Life Insurance Co. of America boosted its stake in shares of American Electric Power by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,897 shares of the utilities provider’s stock valued at $127,000 after buying an additional 13 shares during the last quarter. Finally, Alpha Windward LLC boosted its stake in shares of American Electric Power by 0.4% in the second quarter. Alpha Windward LLC now owns 3,131 shares of the utilities provider’s stock valued at $218,000 after buying an additional 13 shares during the last quarter. Institutional investors own 70.83% of the company’s stock.

Shares of American Electric Power Company, Inc. (AEP) traded down 0.120% during trading on Monday, reaching $70.795. The company’s stock had a trading volume of 582,992 shares. The firm has a market cap of $34.82 billion, a PE ratio of 60.925 and a beta of 0.30. The company’s 50 day moving average price is $70.10 and its 200 day moving average price is $67.73. American Electric Power Company, Inc. has a 12 month low of $57.89 and a 12 month high of $72.97.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 10th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.33%. American Electric Power’s dividend payout ratio (DPR) is presently 203.45%.

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Several equities analysts recently issued reports on AEP shares. BidaskClub cut American Electric Power from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) cut American Electric Power from a “buy” rating to a “neutral” rating and raised their price target for the company from $68.00 to $70.00 in a report on Monday, June 26th. Jefferies Group LLC raised their price target on American Electric Power from $68.00 to $70.00 and gave the company a “hold” rating in a report on Friday, April 28th. Zacks Investment Research cut American Electric Power from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, Mizuho reiterated a “buy” rating and issued a $72.50 price target on shares of American Electric Power in a report on Wednesday, April 19th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $72.09.

In other American Electric Power news, insider Paul Chodak III sold 1,110 shares of the company’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $68.20, for a total value of $75,702.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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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