Wedbush Securities Inc. boosted its holdings in American Electric Power Company Inc (NYSE:AEP) by 19.5% in the 3rd quarter, Holdings Channel reports. The firm owned 11,459 shares of the utilities provider’s stock after purchasing an additional 1,871 shares during the period. Wedbush Securities Inc.’s holdings in American Electric Power were worth $812,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. BlackRock Inc. increased its position in shares of American Electric Power by 0.5% in the third quarter. BlackRock Inc. now owns 35,301,165 shares of the utilities provider’s stock valued at $2,502,146,000 after acquiring an additional 164,878 shares during the period. Alliancebernstein L.P. grew its holdings in American Electric Power by 1.9% in the third quarter. Alliancebernstein L.P. now owns 6,469,015 shares of the utilities provider’s stock worth $458,524,000 after purchasing an additional 122,077 shares during the period. Renaissance Technologies LLC grew its holdings in American Electric Power by 7.4% in the third quarter. Renaissance Technologies LLC now owns 5,641,500 shares of the utilities provider’s stock worth $399,870,000 after purchasing an additional 387,700 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in American Electric Power by 1.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,536,015 shares of the utilities provider’s stock worth $392,393,000 after purchasing an additional 64,801 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in American Electric Power by 14.2% in the third quarter. Bank of New York Mellon Corp now owns 4,549,939 shares of the utilities provider’s stock worth $322,500,000 after purchasing an additional 564,041 shares during the period. 72.72% of the stock is owned by institutional investors and hedge funds.

In related news, insider Paul Chodak III sold 847 shares of American Electric Power stock in a transaction dated Wednesday, November 14th. The shares were sold at an average price of $76.47, for a total transaction of $64,770.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lisa M. Barton sold 881 shares of American Electric Power stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $77.55, for a total transaction of $68,321.55. Following the sale, the insider now owns 581 shares of the company’s stock, valued at approximately $45,056.55. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by company insiders.

Several brokerages have recently issued reports on AEP. Morgan Stanley upped their target price on shares of American Electric Power from $76.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, September 11th. ValuEngine upgraded shares of American Electric Power from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Citigroup increased their price objective on shares of American Electric Power from $71.00 to $72.00 and gave the company a “neutral” rating in a research report on Monday, September 10th. Barclays increased their price objective on shares of American Electric Power from $81.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, November 19th. Finally, Zacks Investment Research upgraded shares of American Electric Power from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Monday, October 15th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $76.56.

American Electric Power stock opened at $78.76 on Friday. The stock has a market capitalization of $38.67 billion, a PE ratio of 21.40, a PEG ratio of 3.47 and a beta of 0.01. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.56 and a quick ratio of 0.46. American Electric Power Company Inc has a 12-month low of $62.71 and a 12-month high of $79.31.

American Electric Power (NYSE:AEP) last released its earnings results on Thursday, October 25th. The utilities provider reported $1.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.05. The firm had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.26 billion. American Electric Power had a net margin of 12.14% and a return on equity of 10.78%. During the same quarter last year, the business earned $1.10 EPS. Research analysts forecast that American Electric Power Company Inc will post 3.96 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 9th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Thursday, November 8th. This is a positive change from American Electric Power’s previous quarterly dividend of $0.62. American Electric Power’s dividend payout ratio (DPR) is 72.83%.

ILLEGAL ACTIVITY NOTICE: “Wedbush Securities Inc. Acquires 1,871 Shares of American Electric Power Company Inc (AEP)” was first published by Watch List News and is the sole property of of Watch List News. If you are reading this news story on another website, it was stolen and reposted in violation of US and international copyright & trademark laws. The correct version of this news story can be accessed at https://www.watchlistnews.com/wedbush-securities-inc-acquires-1871-shares-of-american-electric-power-company-inc-aep/2668478.html.

American Electric Power Company 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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

Recommended Story: Book Value Per Share in Stock Trading

Want to see what other hedge funds are holding AEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Electric Power Company Inc (NYSE:AEP).

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

Receive News & Ratings for American Electric Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Electric Power and related companies with MarketBeat.com's FREE daily email newsletter.