Peddock Capital Advisors LLC Acquires 167 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Peddock Capital Advisors LLC lifted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 2.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,699 shares of the company’s stock after buying an additional 167 shares during the period. Peddock Capital Advisors LLC’s holdings in American Electric Power were worth $687,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. HHM Wealth Advisors LLC grew its holdings in 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 purchasing an additional 103 shares during the last quarter. Denali Advisors LLC bought a new position in American Electric Power during the 1st quarter valued at about $26,000. Rise Advisors LLC bought a new position in American Electric Power during the 1st quarter valued at about $27,000. YHB Investment Advisors Inc. bought a new position in American Electric Power during the 1st quarter valued at about $29,000. Finally, LRI Investments LLC grew its holdings in American Electric Power by 935.9% during the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock valued at $35,000 after purchasing an additional 365 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AEP has been the topic of several analyst reports. Barclays upped their price target 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. BMO Capital Markets upped their target price on shares of American Electric Power from $109.00 to $114.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. upped their target price on shares of American Electric Power from $101.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. 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 target for the company. Finally, Scotiabank upped their price target on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, American Electric Power presently has a consensus rating of “Hold” and a consensus price target of $96.79.

American Electric Power Stock Down 0.3 %

NASDAQ:AEP traded down $0.34 during midday trading on Wednesday, reaching $97.86. 219,591 shares of the stock traded hands, compared to its average volume of 3,157,020. American Electric Power Company, Inc. has a 12-month low of $72.01 and a 12-month high of $105.18. The business has a 50-day moving average of $100.39 and a two-hundred day moving average of $92.58. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65. The stock has a market capitalization of $51.58 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 2.93 and a beta of 0.54.

American Electric Power (NASDAQ:AEP) last posted its earnings results on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates 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%. American Electric Power’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.13 earnings per share. On average, equities 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 business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a $0.88 dividend. The ex-dividend date was Friday, August 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.60%. American Electric Power’s dividend payout ratio 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.