Burkehill Global Management LP acquired a new position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,100,000 shares of the company's stock, valued at approximately $120,197,000. American Electric Power makes up 9.0% of Burkehill Global Management LP's investment portfolio, making the stock its biggest holding. Burkehill Global Management LP owned 0.21% of American Electric Power at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. EQ Wealth Advisors LLC bought a new stake in shares of American Electric Power in the first quarter worth about $25,000. Fourth Dimension Wealth LLC purchased a new position in shares of American Electric Power during the fourth quarter valued at approximately $28,000. Bank of New Hampshire bought a new stake in shares of American Electric Power during the first quarter valued at approximately $28,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of American Electric Power in the 1st quarter worth approximately $33,000. Finally, IMA Advisory Services Inc. bought a new stake in American Electric Power in the first quarter worth $35,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.
American Electric Power Price Performance
Shares of American Electric Power stock traded down $0.01 during trading hours on Tuesday, hitting $111.99. The company's stock had a trading volume of 2,576,390 shares, compared to its average volume of 3,626,442. The business has a 50 day moving average price of $106.06 and a two-hundred day moving average price of $104.78. American Electric Power Company, Inc. has a 12-month low of $89.91 and a 12-month high of $115.36. The company has a market cap of $59.89 billion, a PE ratio of 16.37, a PEG ratio of 2.97 and a beta of 0.40. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.41 and a current ratio of 0.55.
American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.16. The company had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $4.85 billion. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. American Electric Power's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.25 EPS. Analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.
American Electric Power Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 8th will be given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Friday, August 8th. American Electric Power's payout ratio is currently 54.39%.
Insider Transactions at American Electric Power
In related news, EVP David Matthew Feinberg sold 8,058 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $101.74, for a total value of $819,820.92. Following the sale, the executive vice president directly owned 10,274 shares in the company, valued at approximately $1,045,276.76. The trade was a 43.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Quinton S. Lies sold 10,141 shares of the business's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $102.68, for a total value of $1,041,277.88. Following the sale, the executive vice president directly owned 9,658 shares in the company, valued at $991,683.44. The trade was a 51.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,314 shares of company stock worth $3,508,293 over the last quarter. 0.07% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of research firms have weighed in on AEP. Mizuho set a $116.00 price objective on shares of American Electric Power and gave the company a "neutral" rating in a research note on Thursday, July 31st. Raymond James Financial reissued an "outperform" rating and issued a $122.00 target price (up previously from $115.00) on shares of American Electric Power in a report on Thursday, July 31st. BMO Capital Markets lifted their target price on American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a report on Monday, April 21st. Morgan Stanley reduced their target price on American Electric Power from $114.00 to $113.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. Finally, UBS Group lifted their target price on American Electric Power from $100.00 to $110.00 and gave the stock a "sell" rating in a report on Thursday, July 31st. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $111.29.
Check Out Our Latest Analysis on AEP
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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