Constitution Capital LLC Decreases Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Constitution Capital LLC reduced its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 67.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. 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 worth $25,000 after purchasing an additional 103 shares during the last quarter. Denali Advisors LLC purchased a new stake in American Electric Power during the 1st quarter worth about $26,000. Rise Advisors LLC acquired a new position in American Electric Power in the 1st quarter valued at about $27,000. LRI Investments LLC purchased a new position in American Electric Power in the 1st quarter valued at about $37,000. Finally, Briaud Financial Planning Inc boosted its stake in shares of American Electric Power by 52.1% during the 2nd quarter. Briaud Financial Planning Inc now owns 438 shares of the company’s stock worth $38,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Trading Up 0.0 %

Shares of AEP stock traded up $0.03 during mid-day trading on Monday, reaching $98.28. The company’s stock had a trading volume of 102,717 shares, compared to its average volume of 3,135,341. The company has a quick ratio of 0.48, a current ratio of 0.65 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 price-to-earnings-growth ratio of 2.79 and a beta of 0.54. The company’s 50 day simple moving average is $100.23 and its 200-day simple moving average is $92.88. American Electric Power Company, Inc. has a 12-month low of $72.01 and a 12-month high of $105.18.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $4.74 billion. During the same period last year, the company posted $1.13 earnings per share. The firm’s revenue was up 4.5% compared to the same quarter last year. On average, research analysts predict that American Electric Power Company, Inc. will post 5.6 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 3.58%. The ex-dividend date was Friday, August 9th. American Electric Power’s dividend payout ratio (DPR) is 65.31%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on AEP shares. JPMorgan Chase & Co. boosted their price objective on shares of American Electric Power from $101.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Guggenheim boosted their price target on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Morgan Stanley raised their price objective on American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Scotiabank increased their target price on 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. Finally, BMO Capital Markets lifted their price target on American Electric Power from $109.00 to $114.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $96.79.

About American Electric Power

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.