American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC cut its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 7.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 282,028 shares of the company's stock after selling 22,259 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 0.05% of American Electric Power worth $26,012,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AEP. Raymond James Financial Inc. purchased a new stake in shares of American Electric Power in the fourth quarter worth about $220,983,000. Lazard Asset Management LLC boosted its stake in shares of American Electric Power by 51.0% in the fourth quarter. Lazard Asset Management LLC now owns 6,416,474 shares of the company's stock worth $591,791,000 after buying an additional 2,165,888 shares during the last quarter. Cohen & Steers Inc. purchased a new stake in shares of American Electric Power in the fourth quarter worth about $121,605,000. Bank of America Corp DE boosted its stake in shares of American Electric Power by 27.5% in the fourth quarter. Bank of America Corp DE now owns 5,120,568 shares of the company's stock worth $472,270,000 after buying an additional 1,105,317 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of American Electric Power by 1.5% in the fourth 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 last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on AEP shares. Citigroup upped their target price on American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Wells Fargo & Company upped their target price 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. Morgan Stanley lowered their target price on American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. Bank of America increased their price target on American Electric Power from $108.00 to $114.00 and gave the stock a "buy" rating in a research report on Tuesday, March 18th. Finally, Barclays increased their price target on American Electric Power from $95.00 to $106.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, American Electric Power has an average rating of "Hold" and a consensus target price of $105.69.

Insider Buying and Selling

In related news, EVP Quinton S. Lies sold 10,141 shares of the business's stock in a transaction dated Monday, May 19th. The shares were 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 in the company, valued at approximately $991,683.44. The trade was a 51.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.07% of the stock is currently owned by company insiders.

American Electric Power Price Performance

Shares of American Electric Power stock traded down $0.35 during mid-day trading on Tuesday, reaching $102.83. 2,423,158 shares of the stock traded hands, compared to its average volume of 3,198,197. American Electric Power Company, Inc. has a fifty-two week low of $85.93 and a fifty-two week high of $110.48. The stock has a market capitalization of $54.93 billion, a PE ratio of 18.36, a PEG ratio of 2.97 and a beta of 0.45. 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 business has a 50-day moving average of $104.82 and a 200 day moving average of $100.89.

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

American Electric Power Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $3.72 dividend on an annualized basis and a yield of 3.62%. American Electric Power's payout ratio is 71.68%.

American Electric Power 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.