Ground Swell Capital LLC Acquires 3,934 Shares of American Electric Power Company, Inc. $AEP

Ground Swell Capital LLC bought a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 3,934 shares of the company’s stock, valued at approximately $467,000. American Electric Power comprises approximately 1.1% of Ground Swell Capital LLC’s investment portfolio, making the stock its 21st largest position.

Other hedge funds also recently modified their holdings of the company. Elevation Wealth Partners LLC increased its stake in American Electric Power by 118.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 194 shares of the company’s stock worth $27,000 after purchasing an additional 105 shares in the last quarter. Parvin Asset Management LLC bought a new stake in shares of American Electric Power during the second quarter worth $27,000. Caitlin John LLC bought a new stake in American Electric Power in the 2nd quarter valued at $27,000. Premier Financial Group bought a new stake in American Electric Power in the 2nd quarter valued at $28,000. Finally, Highland Investment Advisors LLC bought a new stake in American Electric Power in the 2nd quarter valued at $32,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AEP. Weiss Ratings reaffirmed a “buy (b)” rating on shares of American Electric Power in a research note on Thursday, August 27th. Jefferies Financial Group set a $153.00 target price on American Electric Power in a report on Tuesday, November 3rd. Barclays lifted their price target on American Electric Power from $120.00 to $132.00 and gave the company an “equal weight” rating in a research note on Monday, November 2nd. TD Cowen restated a “buy” rating on shares of American Electric Power in a report on Wednesday, September 9th. Finally, BMO Capital Markets reduced their price objective on American Electric Power from $139.00 to $135.00 and set a “market perform” rating for the company in a research report on Monday, October 19th. Sixteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $139.83.

American Electric Power Stock Up 0.2%

Shares of NASDAQ AEP traded up $0.27 during midday trading on Friday, reaching $129.18. The company’s stock had a trading volume of 2,707,451 shares, compared to its average volume of 3,960,362. The stock has a 50 day simple moving average of $124.52 and a 200-day simple moving average of $128.45. The company has a current ratio of 0.51, a quick ratio of 0.40 and a debt-to-equity ratio of 1.46. The stock has a market capitalization of $70.34 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 2.64 and a beta of 0.46. American Electric Power Company, Inc. has a fifty-two week low of $112.54 and a fifty-two week high of $140.58.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Wednesday, October 28th. The company reported $2.23 EPS for the quarter, topping the consensus estimate of $2.04 by $0.19. American Electric Power had a net margin of 14.21% and a return on equity of 10.52%. The business had revenue of $6.83 billion during the quarter, compared to analysts’ expectations of $6.55 billion. During the same quarter in the prior year, the company posted $1.80 earnings per share. The firm’s revenue was up 13.7% on a year-over-year basis. Equities research analysts predict that American Electric Power Company, Inc. will post 6.44 earnings per share for the current year.

American Electric Power Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Tuesday, November 10th will be paid a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 3.0%. The ex-dividend date is Tuesday, November 10th. This is an increase from American Electric Power’s previous quarterly dividend of $0.95. American Electric Power’s dividend payout ratio (DPR) is presently 62.68%.

Insider Transactions at American Electric Power

In other American Electric Power news, CAO Kate Dixon sold 2,000 shares of the business’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $125.00, for a total transaction of $250,000.00. Following the sale, the chief accounting officer directly owned 15,856 shares of the company’s stock, valued at $1,982,000. The trade was a 11.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.05% of the company’s stock.

About American Electric Power

American Electric Power Company, Inc. (NASDAQ:AEP) is an electric utility holding company based in Columbus, Ohio. Through its regulated utility subsidiaries, it generates or purchases electricity and delivers power to residential, commercial and industrial customers. AEP’s operations include electric generation, transmission and distribution, with service territories across 11 states: Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.