Wellington Shields Capital Management LLC Makes New Investment in American Electric Power Company, Inc. (NASDAQ:AEP)

Wellington Shields Capital Management LLC purchased a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) during the first quarter, Holdings Channel reports. The firm purchased 1,380 shares of the company’s stock, valued at approximately $119,000.

Other institutional investors have also modified their holdings of the company. Frazier Financial Advisors LLC bought a new stake in shares of American Electric Power in the 4th quarter valued at about $26,000. Denali Advisors LLC purchased a new position in shares of American Electric Power during the 1st quarter valued at approximately $26,000. Rise Advisors LLC purchased a new position in shares of American Electric Power during the 1st quarter valued at approximately $27,000. YHB Investment Advisors Inc. purchased a new position in shares of American Electric Power during the 1st quarter valued at approximately $29,000. Finally, Wetzel Investment Advisors Inc. purchased a new position in shares of American Electric Power during the 4th quarter valued at approximately $32,000. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Trading Up 0.5 %

Shares of NASDAQ AEP traded up $0.48 during trading on Wednesday, hitting $88.17. 555,342 shares of the company were exchanged, compared to its average volume of 3,309,772. American Electric Power Company, Inc. has a 12-month low of $69.38 and a 12-month high of $93.44. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.37 and a current ratio of 0.54. The company has a fifty day moving average price of $89.01 and a 200-day moving average price of $84.46. The firm has a market capitalization of $46.48 billion, a PE ratio of 16.29, a P/E/G ratio of 2.58 and a beta of 0.53.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.25 by $0.02. American Electric Power had a return on equity of 11.23% and a net margin of 14.60%. The business had revenue of $5 billion for the quarter, compared to analyst estimates of $5.02 billion. During the same quarter in the previous year, the firm earned $1.11 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. As a group, equities research analysts expect that American Electric Power Company, Inc. will post 5.58 EPS for the current year.

American Electric Power Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were issued a $0.88 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $3.52 annualized dividend and a yield of 3.99%. American Electric Power’s dividend payout ratio (DPR) is currently 65.31%.

Wall Street Analyst Weigh In

AEP has been the subject of several recent research reports. Royal Bank of Canada lifted their target price on shares of American Electric Power from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. BMO Capital Markets lifted their target price on shares of American Electric Power from $95.00 to $99.00 and gave the company an “outperform” rating in a report on Tuesday, May 14th. Scotiabank lifted their price target on shares of American Electric Power from $86.00 to $90.00 and gave the company a “sector outperform” rating in a research note on Wednesday, May 1st. LADENBURG THALM/SH SH raised shares of American Electric Power from a “sell” rating to a “neutral” rating and lifted their price target for the company from $73.00 to $86.00 in a research note on Thursday, June 6th. Finally, StockNews.com raised shares of American Electric Power from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $88.62.

Insider Activity at American Electric Power

In related news, EVP Antonio P. Smyth sold 4,898 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $90.00, for a total value of $440,820.00. Following the sale, the executive vice president now directly owns 6,446 shares in the company, valued at approximately $580,140. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other American Electric Power news, EVP Greg B. Hall sold 5,880 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $88.25, for a total transaction of $518,910.00. Following the sale, the executive vice president now directly owns 6,385 shares in the company, valued at $563,476.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Antonio P. Smyth sold 4,898 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $90.00, for a total transaction of $440,820.00. Following the sale, the executive vice president now owns 6,446 shares in the company, valued at $580,140. The disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

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.