SeaCrest Wealth Management LLC Sells 756 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

SeaCrest Wealth Management LLC trimmed its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 7.1% during the 3rd quarter, Holdings Channel reports. The firm owned 9,939 shares of the company’s stock after selling 756 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in American Electric Power were worth $1,020,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Hodges Capital Management Inc. bought a new position in shares of American Electric Power during the first quarter valued at about $1,615,000. Quantbot Technologies LP purchased a new stake in American Electric Power during the 1st quarter valued at about $1,731,000. Nordea Investment Management AB grew its position in American Electric Power by 381.9% during the 1st quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock worth $171,127,000 after acquiring an additional 1,581,734 shares during the last quarter. Mizuho Markets Americas LLC increased its stake in American Electric Power by 646.9% in the 1st quarter. Mizuho Markets Americas LLC now owns 261,440 shares of the company’s stock worth $22,510,000 after purchasing an additional 226,435 shares during the period. Finally, ProShare Advisors LLC lifted its position in American Electric Power by 21.7% in the first quarter. ProShare Advisors LLC now owns 582,692 shares of the company’s stock valued at $50,170,000 after purchasing an additional 103,771 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AEP. Guggenheim lifted their target price on shares of American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Wells Fargo & Company boosted their price objective on shares of American Electric Power from $98.00 to $104.00 and gave the company an “equal weight” rating in a research report on Wednesday. Scotiabank upped their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Morgan Stanley raised their target price on American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Finally, Bank of America upped their price target 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. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $98.14.

American Electric Power Price Performance

AEP opened at $101.32 on Thursday. American Electric Power Company, Inc. has a 1 year low of $72.01 and a 1 year high of $105.18. The stock has a 50-day moving average price of $100.31 and a 200-day moving average price of $93.12. The firm has a market cap of $53.41 billion, a PE ratio of 18.80, a P/E/G ratio of 2.79 and a beta of 0.54. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.48.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.23 by $0.02. The business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.74 billion. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. During the same period last year, the business posted $1.13 EPS. The company’s revenue was up 4.5% compared to the same quarter last year. Sell-side analysts predict that American Electric Power Company, Inc. will post 5.6 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.52 dividend on an annualized basis and a yield of 3.47%. American Electric Power’s dividend payout ratio is presently 65.31%.

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.