WealthBridge Capital Management LLC Invests $246,000 in American Electric Power Company, Inc. (NASDAQ:AEP)

WealthBridge Capital Management LLC acquired a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 2,399 shares of the company’s stock, valued at approximately $246,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AEP. GAMMA Investing LLC increased its position in shares of American Electric Power by 23.9% during the third quarter. GAMMA Investing LLC now owns 15,520 shares of the company’s stock worth $1,592,000 after acquiring an additional 2,994 shares during the last quarter. Mirador Capital Partners LP increased its stake in American Electric Power by 3.2% during the 3rd quarter. Mirador Capital Partners LP now owns 9,574 shares of the company’s stock valued at $982,000 after buying an additional 296 shares during the period. Park Avenue Securities LLC lifted its position in American Electric Power by 4.6% in the third quarter. Park Avenue Securities LLC now owns 27,687 shares of the company’s stock worth $2,841,000 after purchasing an additional 1,227 shares during the period. Delta Financial Group Inc. acquired a new position in American Electric Power during the third quarter worth about $221,000. Finally, Czech National Bank lifted its holdings in American Electric Power by 7.9% in the 3rd quarter. Czech National Bank now owns 108,398 shares of the company’s stock valued at $11,122,000 after acquiring an additional 7,950 shares during the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Guggenheim upped their price target on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. raised their price target on American Electric Power from $101.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Morgan Stanley lifted their target price on shares of American Electric Power from $102.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Jefferies Financial Group started coverage on shares of American Electric Power in a research report on Friday, September 20th. They set a “hold” rating and a $107.00 target price on the stock. Finally, Barclays upped their price target on American Electric Power from $91.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, American Electric Power has a consensus rating of “Hold” and an average target price of $96.79.

American Electric Power Stock Down 2.2 %

American Electric Power stock opened at $98.06 on Tuesday. American Electric Power Company, Inc. has a fifty-two week low of $72.01 and a fifty-two week high of $105.18. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.48. The firm has a market capitalization of $51.69 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 2.93 and a beta of 0.54. The company’s 50 day simple moving average is $100.37 and its 200 day simple moving average is $92.36.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.02. The business had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.74 billion. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.13 EPS. As a group, sell-side analysts anticipate that American Electric Power Company, Inc. will post 5.6 EPS for the current year.

American Electric Power Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a dividend of $0.88 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.52 annualized dividend and a yield of 3.59%. American Electric Power’s dividend payout ratio (DPR) is currently 65.31%.

American Electric Power Company Profile

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.