Entropy Technologies LP Takes Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Key Points

• Entropy Technologies LP acquired 36,110 shares of American Electric Power Company, valued at approximately $3,946,000, marking a significant new investment.
• American Electric Power reported a net margin of 17.68% and a quarterly revenue increase of 11.1% year-over-year, with earnings per share of $1.43, surpassing expectations.
• The company announced a quarterly dividend of $0.93 per share, translating to an annualized dividend yield of 3.3%, with a payout ratio of 54.39%.

Entropy Technologies LP purchased a new stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 36,110 shares of the company's stock, valued at approximately $3,946,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. EQ Wealth Advisors LLC acquired a new stake in shares of American Electric Power during the first quarter valued at about $25,000. Fourth Dimension Wealth LLC purchased a new stake in American Electric Power in the fourth quarter valued at approximately $28,000. Bank of New Hampshire acquired a new position in American Electric Power during the first quarter worth $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in American Electric Power during the 1st quarter valued at about $33,000. Finally, IMA Advisory Services Inc. purchased a new position in American Electric Power during the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 75.24% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AEP shares. Citigroup lifted their price objective on American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. UBS Group increased their price objective on American Electric Power from $100.00 to $110.00 and gave the company a "sell" rating in a report on Thursday, July 31st. Mizuho set a $116.00 price objective on American Electric Power and gave the company a "neutral" rating in a report on Thursday, July 31st. BMO Capital Markets upped their price target on American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a research note on Monday, April 21st. Finally, Raymond James Financial restated an "outperform" rating and set a $122.00 price target (up previously from $115.00) on shares of American Electric Power in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $111.29.

American Electric Power Price Performance

Shares of NASDAQ:AEP traded down $0.01 on Tuesday, hitting $111.99. The company had a trading volume of 2,576,390 shares, compared to its average volume of 3,626,442. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.33. American Electric Power Company, Inc. has a 52-week low of $89.91 and a 52-week high of $115.36. The business has a 50 day moving average of $106.06 and a 200 day moving average of $104.78. 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.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.16. American Electric Power had a return on equity of 11.55% and a net margin of 17.68%. The business had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the prior year, the business earned $1.25 earnings per share. The business's revenue was up 11.1% on a year-over-year basis. As a group, equities analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The firm 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 dividend of $0.93 per share. The ex-dividend date is Friday, August 8th. This represents a $3.72 annualized dividend and a yield of 3.3%. American Electric Power's dividend payout ratio is 54.39%.

Insider Activity

In related news, EVP Quinton S. Lies sold 10,141 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $102.68, for a total transaction of $1,041,277.88. Following the transaction, the executive vice president directly owned 9,658 shares in the company, valued at approximately $991,683.44. This represents a 51.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP David Matthew Feinberg sold 8,058 shares of the 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 transaction, the executive vice president owned 10,274 shares in the company, valued at $1,045,276.76. This trade represents a 43.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,314 shares of company stock worth $3,508,293 over the last quarter. 0.07% of the stock is currently owned by company insiders.

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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.