LCM Capital Management Inc Takes $204,000 Position in American Electric Power Company, Inc. (NASDAQ:AEP)

by · The Cerbat Gem

LCM Capital Management Inc purchased a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,992 shares of the company’s stock, valued at approximately $204,000.

Several other institutional investors have also added to or reduced their stakes in the company. HHM Wealth Advisors LLC grew its position in shares of American Electric Power by 57.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 283 shares of the company’s stock worth $25,000 after buying an additional 103 shares during the last quarter. LRI Investments LLC lifted its position in shares of American Electric Power by 935.9% in the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after purchasing an additional 365 shares during the period. 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 valued at $38,000 after purchasing an additional 150 shares in the last quarter. Naples Money Management LLC purchased a new stake in American Electric Power in the second quarter worth about $44,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of American Electric Power during the second quarter valued at approximately $48,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on AEP shares. Morgan Stanley increased their price target on shares of American Electric Power from $102.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Barclays lifted their target price on shares of American Electric Power from $96.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Jefferies Financial Group began coverage on American Electric Power in a research note on Friday, September 20th. They issued a “hold” rating and a $107.00 price target on the stock. Guggenheim lifted their price objective on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Finally, Bank of America increased their target price on American Electric Power from $97.00 to $98.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Two 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. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $98.43.

Get Our Latest Report on American Electric Power

American Electric Power Trading Up 1.4 %

Shares of NASDAQ:AEP opened at $98.75 on Friday. The stock’s 50-day simple moving average is $100.70 and its two-hundred day simple moving average is $94.23. The stock has a market capitalization of $52.55 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 2.79 and a beta of 0.54. American Electric Power Company, Inc. has a 52-week low of $74.73 and a 52-week high of $105.18. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.48 and a current ratio of 0.65.

American Electric Power (NASDAQ:AEP – Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter last year, the firm posted $1.13 earnings per share. The firm’s revenue was up 4.5% compared to the same quarter last year. Analysts expect that American Electric Power Company, Inc. will post 5.6 EPS for the current year.

American Electric Power Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 8th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.77%. This is a positive change from American Electric Power’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, November 8th. American Electric Power’s dividend payout ratio is 74.10%.

American Electric Power Profile

(Free Report)

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.

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