CX Institutional Acquires 2,427 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

CX Institutional boosted its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 68.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,988 shares of the company's stock after buying an additional 2,427 shares during the quarter. CX Institutional's holdings in American Electric Power were worth $654,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of AEP. W.H. Cornerstone Investments Inc. lifted its holdings in American Electric Power by 89.7% during the fourth quarter. W.H. Cornerstone Investments Inc. now owns 6,398 shares of the company's stock worth $590,000 after acquiring an additional 3,026 shares during the period. Certuity LLC purchased a new stake in shares of American Electric Power during the 4th quarter valued at $245,000. Avidian Wealth Enterprises LLC bought a new stake in shares of American Electric Power during the 4th quarter worth $372,000. GQG Partners LLC grew its position in American Electric Power by 3.7% during the fourth quarter. GQG Partners LLC now owns 15,060,525 shares of the company's stock valued at $1,389,032,000 after buying an additional 543,054 shares during the period. Finally, Allworth Financial LP increased its holdings in American Electric Power by 34.5% during the fourth quarter. Allworth Financial LP now owns 15,586 shares of the company's stock worth $1,519,000 after buying an additional 4,000 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Wells Fargo & Company increased their target price on shares of 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. Citigroup upped 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. Guggenheim raised their target price on American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Morgan Stanley dropped their price target on American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a research report on Thursday, May 22nd. Finally, Bank of America lifted their price objective on American Electric Power from $108.00 to $114.00 and gave the stock a "buy" rating in a report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $108.31.

American Electric Power Price Performance

Shares of AEP traded down $0.12 during midday trading on Friday, hitting $102.90. 2,388,673 shares of the company traded hands, compared to its average volume of 3,199,796. American Electric Power Company, Inc. has a one year low of $85.93 and a one year high of $110.48. The firm has a market cap of $54.97 billion, a P/E ratio of 18.38, a PEG ratio of 2.97 and a beta of 0.42. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.44 and a quick ratio of 0.31. The stock has a 50-day moving average of $104.14 and a 200-day moving average of $101.09.

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

American Electric Power Announces Dividend

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

Insider Activity at American Electric Power

In related news, EVP Quinton S. Lies sold 10,141 shares of the company's stock in a transaction on 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Matthew Feinberg sold 8,058 shares of American Electric Power stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $101.49, for a total value of $817,806.42. Following the sale, the executive vice president now directly owns 18,332 shares of the company's stock, valued at approximately $1,860,514.68. This trade represents a 30.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,256 shares of company stock valued at $2,688,472 over the last three months. 0.07% of the stock is owned by corporate insiders.

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.