Viking Fund Management LLC Has $12.02 Million Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Viking Fund Management LLC trimmed its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 8.7% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 110,000 shares of the company's stock after selling 10,500 shares during the quarter. American Electric Power comprises approximately 1.7% of Viking Fund Management LLC's portfolio, making the stock its 8th biggest position. Viking Fund Management LLC's holdings in American Electric Power were worth $12,020,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of AEP. JPMorgan Chase & Co. lifted its holdings in shares of American Electric Power by 31.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,075,032 shares of the company's stock valued at $315,498,000 after buying an additional 738,756 shares during the period. Brighton Jones LLC increased its position in American Electric Power by 11.5% during the fourth quarter. Brighton Jones LLC now owns 10,601 shares of the company's stock valued at $978,000 after acquiring an additional 1,095 shares during the last quarter. Caprock Group LLC lifted its holdings in American Electric Power by 9.2% in the fourth quarter. Caprock Group LLC now owns 7,921 shares of the company's stock valued at $731,000 after acquiring an additional 670 shares during the period. Heck Capital Advisors LLC purchased a new position in American Electric Power in the fourth quarter worth about $58,000. Finally, Chicago Partners Investment Group LLC grew its stake in shares of American Electric Power by 10.6% during the 4th quarter. Chicago Partners Investment Group LLC now owns 2,645 shares of the company's stock valued at $244,000 after purchasing an additional 253 shares during the period. Hedge funds and other institutional investors own 75.24% of the company's stock.

Analyst Ratings Changes

AEP has been the topic of several recent research reports. Barclays increased their price objective on shares of American Electric Power from $95.00 to $106.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 22nd. BMO Capital Markets increased their price target on shares of American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a research report on Monday, April 21st. Citigroup boosted their price objective on shares of American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Wells Fargo & Company upped their price objective on American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Finally, Bank of America lifted their target price 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $105.69.

American Electric Power Price Performance

NASDAQ AEP traded down $0.08 on Thursday, reaching $101.77. The company had a trading volume of 2,033,029 shares, compared to its average volume of 3,192,762. The stock has a market capitalization of $54.37 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 2.97 and a beta of 0.42. American Electric Power Company, Inc. has a 12 month low of $85.93 and a 12 month high of $110.48. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. The firm's 50 day moving average price is $104.72 and its 200 day moving average price is $100.90.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.40 by $0.14. The business had revenue of $5.46 billion for the quarter, compared to the consensus estimate of $5.33 billion. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. The company's revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.27 EPS. As a group, equities analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.66%. The ex-dividend date is Friday, May 9th. American Electric Power's dividend payout ratio is 71.68%.

Insider Activity at American Electric Power

In other American Electric Power news, EVP David Matthew Feinberg sold 8,057 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $102.94, for a total value of $829,387.58. Following the completion of the sale, the executive vice president now owns 26,298 shares of the company's stock, valued at $2,707,116.12. This trade represents a 23.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Quinton S. Lies sold 10,141 shares of the firm'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 now directly owns 9,658 shares of the company's stock, valued at $991,683.44. This represents a 51.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.07% of the stock is owned by insiders.

About American Electric Power

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.