Wedmont Private Capital Increases Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Wedmont Private Capital raised its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 6.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,789 shares of the company’s stock after purchasing an additional 297 shares during the period. Wedmont Private Capital’s holdings in American Electric Power were worth $436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Denali Advisors LLC purchased a new stake in shares of American Electric Power in the first quarter valued at about $26,000. Rise Advisors LLC acquired a new position in shares of American Electric Power in the 1st quarter valued at $27,000. Frazier Financial Advisors LLC acquired a new position in shares of American Electric Power in the 4th quarter valued at $26,000. YHB Investment Advisors Inc. purchased a new position in shares of American Electric Power during the first quarter worth about $29,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of American Electric Power in the fourth quarter valued at approximately $32,000. Institutional investors own 75.24% of the company’s stock.

Insider Activity at American Electric Power

In other news, EVP Antonio P. Smyth sold 4,898 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $90.00, for a total value of $440,820.00. Following the completion of the transaction, the executive vice president now owns 6,446 shares in the company, valued at approximately $580,140. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other American Electric Power news, EVP Greg B. Hall sold 5,880 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $88.25, for a total value of $518,910.00. Following the sale, the executive vice president now directly owns 6,385 shares in the company, valued at $563,476.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Antonio P. Smyth sold 4,898 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $90.00, for a total transaction of $440,820.00. Following the sale, the executive vice president now owns 6,446 shares in the company, valued at $580,140. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by corporate insiders.

American Electric Power Stock Up 1.1 %

NASDAQ:AEP traded up $1.04 during mid-day trading on Tuesday, hitting $98.18. 2,142,420 shares of the company’s stock traded hands, compared to its average volume of 3,292,517. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.37 and a current ratio of 0.65. The company has a fifty day moving average of $91.58 and a 200 day moving average of $86.94. American Electric Power Company, Inc. has a twelve month low of $69.38 and a twelve month high of $104.41. The company has a market capitalization of $51.75 billion, a P/E ratio of 18.20, a P/E/G ratio of 2.92 and a beta of 0.53.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the prior year, the business posted $1.13 earnings per share. American Electric Power’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts forecast that American Electric Power Company, Inc. will post 5.59 EPS for the current year.

American Electric Power Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be issued a dividend of $0.88 per share. The ex-dividend date is 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 65.31%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AEP shares. Royal Bank of Canada lifted their price target on shares of American Electric Power from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Wells Fargo & Company upped their price target on shares of American Electric Power from $84.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. StockNews.com raised American Electric Power from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Guggenheim increased their target price on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Finally, BMO Capital Markets lifted their price target on shares of American Electric Power from $100.00 to $104.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $93.38.

American Electric Power 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.