Seven Eight Capital LP Makes New $1.52 Million Investment in American Electric Power Company, Inc. (NASDAQ:AEP)

Seven Eight Capital LP bought a new position in American Electric Power Company, Inc. (NASDAQ:AEP) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 17,319 shares of the company’s stock, valued at approximately $1,520,000.

Other institutional investors have also modified their holdings of the company. HHM Wealth Advisors LLC raised its position in shares of American Electric Power by 57.2% during the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $25,000 after buying an additional 103 shares during the period. Frazier Financial Advisors LLC acquired a new stake in American Electric Power during the fourth quarter worth $26,000. Denali Advisors LLC purchased a new stake in American Electric Power in the first quarter valued at $26,000. Rise Advisors LLC acquired a new position in shares of American Electric Power in the 1st quarter valued at $27,000. Finally, YHB Investment Advisors Inc. purchased a new position in shares of American Electric Power during the 1st quarter worth $29,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analyst Ratings Changes

AEP has been the topic of several research analyst reports. Barclays boosted their price objective on shares of American Electric Power from $91.00 to $96.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. increased their price objective on shares of American Electric Power from $101.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Bank of America boosted their target price on American Electric Power from $97.00 to $98.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. LADENBURG THALM/SH SH upgraded American Electric Power from a “sell” rating to a “neutral” rating and raised their price target for the stock from $73.00 to $86.00 in a research report on Thursday, June 6th. Finally, Morgan Stanley boosted their price objective on American Electric Power from $95.00 to $102.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $95.15.

American Electric Power Stock Performance

Shares of American Electric Power stock opened at $101.74 on Friday. The business has a 50-day simple moving average of $98.37 and a 200-day simple moving average of $90.76. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65. American Electric Power Company, Inc. has a one year low of $69.38 and a one year high of $105.18. The company has a market cap of $53.63 billion, a PE ratio of 18.88, a P/E/G ratio of 2.95 and a beta of 0.54.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.23 by $0.02. The company 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 revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.13 EPS. On average, equities research analysts forecast that American Electric Power Company, Inc. will post 5.59 EPS for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently declared 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. This represents a $3.52 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend was Friday, August 9th. American Electric Power’s dividend payout ratio (DPR) is 65.31%.

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.