American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Constitution Capital LLC

Constitution Capital LLC trimmed its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 67.7% in the third quarter, Holdings Channel reports. The firm owned 2,910 shares of the company’s stock after selling 6,090 shares during the quarter. Constitution Capital LLC’s holdings in American Electric Power were worth $299,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nomura Holdings Inc. acquired a new position in shares of American Electric Power in the 4th quarter valued at about $175,667,000. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of American Electric Power by 542.4% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock worth $193,541,000 after purchasing an additional 1,927,234 shares during the period. Nordea Investment Management AB lifted its holdings in shares of American Electric Power by 381.9% in the 1st quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock worth $171,127,000 after purchasing an additional 1,581,734 shares during the last quarter. National Bank of Canada FI boosted its position in American Electric Power by 221.9% during the 1st quarter. National Bank of Canada FI now owns 1,715,346 shares of the company’s stock valued at $157,140,000 after purchasing an additional 1,182,451 shares during the period. Finally, Zimmer Partners LP grew its stake in American Electric Power by 578.2% during the 1st quarter. Zimmer Partners LP now owns 975,000 shares of the company’s stock worth $83,948,000 after buying an additional 831,235 shares during the last quarter. 75.24% of the stock is owned by institutional investors.

American Electric Power Price Performance

NASDAQ:AEP traded up $0.03 during mid-day trading on Monday, reaching $98.28. 102,717 shares of the stock were exchanged, compared to its average volume of 3,135,341. American Electric Power Company, Inc. has a 1-year low of $72.01 and a 1-year high of $105.18. The company has a current ratio of 0.65, a quick ratio of 0.48 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $51.81 billion, a PE ratio of 18.23, a PEG ratio of 2.79 and a beta of 0.54. The business has a fifty day moving average price of $100.23 and a 200 day moving average price of $92.88.

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

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date was Friday, August 9th. American Electric Power’s payout ratio is 65.31%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AEP. BMO Capital Markets raised their target price on American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Jefferies Financial Group started coverage on shares of American Electric Power in a research report on Friday, September 20th. They issued a “hold” rating and a $107.00 price objective on the stock. Guggenheim upped their target price on shares of American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Bank of America lifted their price target on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Finally, Barclays increased their price objective on American Electric Power from $91.00 to $96.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $96.79.

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.