Agate Pass Investment Management LLC Increases Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Agate Pass Investment Management LLC grew its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 64.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,760 shares of the company's stock after acquiring an additional 3,055 shares during the quarter. Agate Pass Investment Management LLC's holdings in American Electric Power were worth $848,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ bought a new position in shares of American Electric Power during the 4th quarter worth approximately $25,000. Fourth Dimension Wealth LLC bought a new position in shares of American Electric Power during the 4th quarter worth approximately $28,000. Fairway Wealth LLC acquired a new stake in shares of American Electric Power in the 4th quarter valued at approximately $32,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of American Electric Power in the 4th quarter valued at approximately $35,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of American Electric Power in the 4th quarter valued at approximately $35,000. 75.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

AEP has been the subject of several recent analyst reports. Bank of America increased their price objective on American Electric Power from $108.00 to $114.00 and gave the company a "buy" rating in a report on Tuesday, March 18th. Citigroup raised their price target on American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Morgan Stanley cut their price target 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. Wells Fargo & Company raised their price target on American Electric Power from $107.00 to $114.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. Finally, BMO Capital Markets raised their price target on American Electric Power from $111.00 to $115.00 and gave the company an "outperform" rating in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $105.69.

Insider Activity at American Electric Power

In other American Electric Power news, EVP Quinton S. Lies sold 10,141 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 9,658 shares in the company, valued at approximately $991,683.44. This represents a 51.22% decrease in their position. The transaction 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

AEP stock traded down $0.62 during midday trading on Tuesday, reaching $102.56. The company had a trading volume of 588,330 shares, compared to its average volume of 3,189,886. The company has a market capitalization of $54.79 billion, a price-to-earnings ratio of 18.31, a price-to-earnings-growth ratio of 2.97 and a beta of 0.45. The stock has a 50 day moving average price of $104.86 and a 200-day moving average price of $100.88. American Electric Power Company, Inc. has a 1-year low of $85.93 and a 1-year high of $110.48. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.44 and a quick ratio of 0.31.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $5.33 billion. During the same quarter in the previous year, the business posted $1.27 earnings per share. The business's revenue for the quarter was up 8.7% on a year-over-year basis. Equities research analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend is Friday, May 9th. American Electric Power's payout ratio is presently 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.