The 65 Shares of American Electric Power Co. (AEP) are sold by Smith Salley & Associates

The 65 Shares of American Electric Power Co. (AEP) are sold by Smith Salley & Associates

Smith Salley & Associates lowered its position in shares of American Electric Power Co. (NYSE:AEP) by 0.9% during the second quarter, Holdings Channel reports. The institutional investor owned 7,126 shares of the company’s stock after selling 65 shares during the period. Smith Salley & Associates’ holdings in American Electric Power were worth $499,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. AXA boosted its stake in American Electric Power by 364.8% in the first quarter. AXA now owns 92,500 shares of the company’s stock worth $6,142,000 after buying an additional 72,600 shares in the last quarter. UBS Group AG boosted its stake in American Electric Power by 9.9% in the first quarter. UBS Group AG now owns 726,243 shares of the company’s stock worth $48,222,000 after buying an additional 65,238 shares in the last quarter. Lazard Asset Management LLC boosted its stake in American Electric Power by 13.0% in the first quarter. Lazard Asset Management LLC now owns 383,510 shares of the company’s stock worth $25,464,000 after buying an additional 44,144 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in American Electric Power by 5,054.1% in the first quarter. Meeder Asset Management Inc. now owns 44,789 shares of the company’s stock worth $2,974,000 after buying an additional 43,920 shares in the last quarter. Finally, State Street Corp boosted its stake in American Electric Power by 7.5% in the first quarter. State Street Corp now owns 25,117,238 shares of the company’s stock worth $1,667,787,000 after buying an additional 1,758,073 shares in the last quarter. Institutional investors and hedge funds own 68.71% of the company’s stock.

Shares of American Electric Power Co. (NYSE:AEP) traded up 0.10% during trading on Friday, hitting $62.59. The stock had a trading volume of 1,297,679 shares. American Electric Power Co. has a one year low of $53.30 and a one year high of $71.32. The stock has a 50 day moving average price of $64.40 and a 200-day moving average price of $66.07. The stock has a market capitalization of $30.78 billion, a price-to-earnings ratio of 15.45 and a beta of 0.23.

American Electric Power (NYSE:AEP) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.95 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.05. American Electric Power had a return on equity of 9.54% and a net margin of 12.50%. The firm had revenue of $3.90 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the company earned $0.88 EPS. The company’s revenue was up 2.6% on a year-over-year basis. On average, equities research analysts predict that American Electric Power Co. will post $3.69 earnings per share for the current year.

A number of research firms have recently issued reports on AEP. Zacks Investment Research cut American Electric Power from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. KeyCorp restated an “outperform” rating and set a $72.50 price objective (up from $69.00) on shares of American Electric Power in a research report on Saturday, July 2nd. Goldman Sachs Group Inc. upgraded American Electric Power from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $71.00 to $73.00 in a research report on Tuesday, July 26th. Citigroup Inc. upped their price target on American Electric Power from $61.00 to $68.00 and gave the company a “neutral” rating in a research report on Wednesday, July 20th. Finally, Hilliard Lyons cut American Electric Power from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $68.17.

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 Company’s segments include Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing.

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