Exchange Traded Concepts LLC Acquires 19,179 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Exchange Traded Concepts LLC boosted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 4,215.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,634 shares of the company’s stock after acquiring an additional 19,179 shares during the quarter. Exchange Traded Concepts LLC’s holdings in American Electric Power were worth $2,014,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC lifted its stake in shares of American Electric Power by 57.2% in the second quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after acquiring an additional 103 shares during the period. Denali Advisors LLC acquired a new position in shares of American Electric Power in the 1st quarter worth approximately $26,000. Rise Advisors LLC bought a new stake in shares of American Electric Power in the 1st quarter valued at $27,000. LRI Investments LLC acquired a new stake in shares of American Electric Power during the first quarter worth $37,000. Finally, Briaud Financial Planning Inc raised its stake in American Electric Power by 52.1% during the second quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after buying an additional 150 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AEP. Barclays increased their price target on American Electric Power from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Tuesday. JPMorgan Chase & Co. lifted their target price on American Electric Power from $101.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Morgan Stanley increased their price target on American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Guggenheim lifted their price objective on shares of American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Finally, Jefferies Financial Group initiated coverage on shares of American Electric Power in a research note on Friday, September 20th. They set a “hold” rating and a $107.00 target price on the stock. 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $97.07.

American Electric Power Stock Up 0.9 %

Shares of NASDAQ:AEP opened at $99.66 on Wednesday. The stock has a market cap of $52.53 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 2.79 and a beta of 0.54. The business’s 50 day moving average is $100.27 and its 200 day moving average is $93.06. American Electric Power Company, Inc. has a 12-month low of $72.01 and a 12-month high of $105.18. The company has a quick ratio of 0.48, a current ratio of 0.65 and a debt-to-equity ratio of 1.53.

American Electric Power (NASDAQ:AEP) last posted its earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.02. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The firm had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the prior year, the business posted $1.13 EPS. The business’s revenue was up 4.5% compared to the same quarter last year. On average, sell-side analysts forecast that American Electric Power Company, Inc. will post 5.6 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend was Friday, August 9th. American Electric Power’s payout ratio is 65.31%.

About American Electric Power

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.