Nisa Investment Advisors LLC reduced its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 77.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 57,678 shares of the company's stock after selling 196,106 shares during the quarter. Nisa Investment Advisors LLC's holdings in American Electric Power were worth $6,302,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of American Electric Power by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 51,690,606 shares of the company's stock worth $4,767,425,000 after buying an additional 763,813 shares during the period. GQG Partners LLC grew its position in shares of American Electric Power by 3.7% during the 4th quarter. GQG Partners LLC now owns 15,060,525 shares of the company's stock worth $1,389,032,000 after buying an additional 543,054 shares during the period. Geode Capital Management LLC grew its position in shares of American Electric Power by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 12,808,003 shares of the company's stock valued at $1,178,174,000 after purchasing an additional 283,311 shares during the period. Invesco Ltd. grew its position in shares of American Electric Power by 9.1% in the 4th quarter. Invesco Ltd. now owns 8,603,600 shares of the company's stock valued at $793,510,000 after purchasing an additional 716,229 shares during the period. Finally, Royal Bank of Canada grew its position in shares of American Electric Power by 1.2% in the 4th quarter. Royal Bank of Canada now owns 7,047,428 shares of the company's stock valued at $649,983,000 after purchasing an additional 85,756 shares during the period. 75.24% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the company. Citigroup boosted their price objective on American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Morgan Stanley decreased their price objective on American Electric Power from $114.00 to $113.00 and set an "overweight" rating for the company in a research report on Thursday, May 22nd. Wells Fargo & Company boosted their price objective on American Electric Power from $107.00 to $114.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Bank of America boosted their price objective on American Electric Power from $108.00 to $114.00 and gave the company a "buy" rating in a research report on Tuesday, March 18th. Finally, Raymond James Financial assumed coverage on American Electric Power in a research report on Friday, June 13th. They issued an "outperform" rating and a $115.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $108.31.
View Our Latest Report on AEP
Insider Buying and Selling at American Electric Power
In other news, EVP Quinton S. Lies sold 10,141 shares of the stock in a transaction on 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 sale, the executive vice president directly owned 9,658 shares of the company's stock, valued at approximately $991,683.44. This represents a 51.22% decrease in their position. The transaction was disclosed in a document filed 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 on 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. 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 a total of 34,314 shares of company stock worth $3,508,293 in the last quarter. Company insiders own 0.07% of the company's stock.
American Electric Power Stock Down 0.7%
Shares of American Electric Power stock traded down $0.70 on Friday, reaching $105.34. 2,473,878 shares of the company were exchanged, compared to its average volume of 3,226,904. American Electric Power Company, Inc. has a one year low of $89.84 and a one year high of $110.48. The company has a market capitalization of $56.27 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 2.82 and a beta of 0.42. The company has a current ratio of 0.42, a quick ratio of 0.31 and a debt-to-equity ratio of 1.42. The company has a 50-day moving average of $103.00 and a 200 day moving average of $102.25.
American Electric Power (NASDAQ:AEP - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.14. American Electric Power had a return on equity of 11.68% and a net margin of 13.73%. The business had revenue of $5.46 billion for the quarter, compared to analysts' expectations of $5.33 billion. During the same quarter in the prior year, the business earned $1.27 EPS. The firm's revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities research analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.
American Electric Power Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend was Friday, May 9th. American Electric Power's payout ratio is 71.68%.
About American Electric Power
(
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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