Wedbush Securities Inc. Sells 815 Shares of American Electric Power Company, Inc. (AEP)

Wedbush Securities Inc. trimmed its holdings in shares of American Electric Power Company, Inc. (NYSE:AEP) by 8.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,772 shares of the utilities provider’s stock after selling 815 shares during the period. Wedbush Securities Inc.’s holdings in American Electric Power were worth $616,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of AEP. Cleararc Capital Inc. boosted its stake in shares of American Electric Power by 0.6% during the 1st quarter. Cleararc Capital Inc. now owns 12,038 shares of the utilities provider’s stock worth $808,000 after buying an additional 71 shares during the last quarter. Thrivent Financial For Lutherans boosted its stake in shares of American Electric Power by 248.5% during the 1st quarter. Thrivent Financial For Lutherans now owns 168,310 shares of the utilities provider’s stock worth $11,295,000 after buying an additional 120,010 shares during the last quarter. Global X Management Co. LLC boosted its stake in shares of American Electric Power by 38.1% during the 1st quarter. Global X Management Co. LLC now owns 6,997 shares of the utilities provider’s stock worth $470,000 after buying an additional 1,931 shares during the last quarter. MARSHALL WACE ASIA Ltd acquired a new position in shares of American Electric Power during the 1st quarter worth about $1,746,000. Finally, Guardian Life Insurance Co. of America boosted its stake in shares of American Electric Power by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,897 shares of the utilities provider’s stock worth $127,000 after buying an additional 13 shares during the last quarter. Institutional investors own 71.84% of the company’s stock.

American Electric Power Company, Inc. (AEP) traded up $0.36 during trading on Friday, reaching $74.08. 2,310,973 shares of the company’s stock traded hands, compared to its average volume of 1,988,888. American Electric Power Company, Inc. has a 52-week low of $57.89 and a 52-week high of $74.92. The company has a market cap of $36,435.51, a PE ratio of 21.29, a P/E/G ratio of 4.30 and a beta of 0.29. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.34 and a current ratio of 0.56.

American Electric Power (NYSE:AEP) last issued its earnings results on Thursday, October 26th. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.06). American Electric Power had a return on equity of 9.67% and a net margin of 12.21%. The company had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same period last year, the business earned $1.30 earnings per share. The firm’s revenue was down 12.8% compared to the same quarter last year. equities analysts forecast that American Electric Power Company, Inc. will post 3.63 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 10th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.35%. This is an increase from American Electric Power’s previous quarterly dividend of $0.59. The ex-dividend date is Thursday, November 9th. American Electric Power’s dividend payout ratio (DPR) is presently 61.78%.

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A number of equities analysts have recently commented on the stock. Royal Bank Of Canada restated a “hold” rating and set a $74.00 price objective on shares of American Electric Power in a research note on Monday, October 30th. Bank of America Corporation started coverage on shares of American Electric Power in a report on Tuesday, October 24th. They issued a “buy” rating and a $79.00 target price on the stock. Deutsche Bank AG cut shares of American Electric Power from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. J P Morgan Chase & Co upped their target price on shares of American Electric Power to $75.00 and gave the company a “neutral” rating in a report on Thursday, October 12th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $73.00 target price on shares of American Electric Power in a report on Tuesday, October 3rd. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $73.91.

About American Electric Power

American Electric Power Company, Inc (AEP) is a public utility holding company that owns, directly or indirectly, all of the outstanding common stock of its public utility subsidiaries and varying percentages of other subsidiaries. The service areas of the Company’s public utility subsidiaries cover the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.

Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

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