American Electric Power Company, Inc. (AEP) Position Maintained by Loeb Partners Corp

Loeb Partners Corp continued to hold its position in shares of American Electric Power Company, Inc. (NYSE:AEP) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,000 shares of the utilities provider’s stock at the end of the second quarter. Loeb Partners Corp’s holdings in American Electric Power were worth $1,528,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Harbour Capital Advisors LLC raised its position in shares of American Electric Power by 6,847.0% in the second quarter. Harbour Capital Advisors LLC now owns 81,141 shares of the utilities provider’s stock worth $1,168,000 after buying an additional 79,973 shares during the period. IBM Retirement Fund raised its position in shares of American Electric Power by 119.5% in the second quarter. IBM Retirement Fund now owns 12,031 shares of the utilities provider’s stock worth $934,000 after buying an additional 6,549 shares during the period. Sumitomo Life Insurance Co. raised its position in shares of American Electric Power by 54.4% in the second quarter. Sumitomo Life Insurance Co. now owns 38,313 shares of the utilities provider’s stock worth $2,662,000 after buying an additional 13,506 shares during the period. Municipal Employees Retirement System of Michigan raised its position in shares of American Electric Power by 4.7% in the second quarter. Municipal Employees Retirement System of Michigan now owns 28,150 shares of the utilities provider’s stock worth $1,955,000 after buying an additional 1,270 shares during the period. Finally, Park Avenue Securities LLC acquired a new position in shares of American Electric Power during the second quarter worth about $274,000. Institutional investors and hedge funds own 70.77% of the company’s stock.

Shares of American Electric Power Company, Inc. (NYSE AEP) traded up 0.22% during midday trading on Friday, hitting $72.16. 2,871,369 shares of the company’s stock traded hands. The stock has a market cap of $35.49 billion, a P/E ratio of 62.10 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 company has a 50 day moving average of $70.00 and a 200 day moving average of $68.41.

American Electric Power (NYSE:AEP) last released its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.75 earnings per share (EPS) 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 business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the previous year, the company posted $0.95 EPS. On average, equities analysts forecast that American Electric Power Company, Inc. will post $3.66 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Thursday, August 10th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $2.36 annualized dividend and a dividend yield of 3.27%. American Electric Power’s payout ratio is 203.45%.

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A number of brokerages have recently issued reports on AEP. Morgan Stanley raised their target price on shares of 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. Royal Bank Of Canada reiterated a “hold” rating and issued a $71.00 price objective on shares of American Electric Power in a research report on Wednesday, August 2nd. BidaskClub upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. BMO Capital Markets reiterated an “outperform” rating and issued a $75.00 price objective (up from $73.00) on shares of American Electric Power in a research report on Friday, July 28th. Finally, Zacks Investment Research upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $72.17.

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.

Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

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