Harvest Fund Management Co. Ltd Grows Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Key Points

• Harvest Fund Management Co. Ltd increased its holdings in American Electric Power (NASDAQ:AEP) by 10.5% during Q1, now owning a total of 35,048 shares valued at approximately $3.83 million.
• Institutional investors and hedge funds collectively own 75.24% of American Electric Power's stock, reflecting strong institutional interest in the company.
• American Electric Power recently announced a quarterly dividend of $0.93 per share, yielding 3.45%, with a payout ratio of 71.68%.

Harvest Fund Management Co. Ltd increased its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 10.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,048 shares of the company's stock after purchasing an additional 3,343 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in American Electric Power were worth $3,829,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in AEP. Banque Cantonale Vaudoise purchased a new position in shares of American Electric Power in the first quarter valued at about $810,000. FSA Advisors Inc. purchased a new position in shares of American Electric Power in the first quarter valued at about $285,000. Geneos Wealth Management Inc. increased its position in shares of American Electric Power by 122.9% in the first quarter. Geneos Wealth Management Inc. now owns 23,663 shares of the company's stock valued at $2,586,000 after acquiring an additional 13,045 shares during the period. Cozad Asset Management Inc. purchased a new position in shares of American Electric Power in the first quarter valued at about $246,000. Finally, Meeder Advisory Services Inc. increased its position in shares of American Electric Power by 6.7% in the first quarter. Meeder Advisory Services Inc. now owns 12,980 shares of the company's stock valued at $1,418,000 after acquiring an additional 810 shares during the period. Hedge funds and other institutional investors own 75.24% of the company's stock.

American Electric Power Stock Up 3.7%

NASDAQ:AEP traded up $4.03 during mid-day trading on Wednesday, hitting $113.25. 7,613,745 shares of the company's stock were exchanged, compared to its average volume of 2,634,134. American Electric Power Company, Inc. has a one year low of $89.91 and a one year high of $114.23. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.42 and a quick ratio of 0.31. The business has a fifty day moving average price of $104.17 and a 200 day moving average price of $103.69. The company has a market cap of $60.50 billion, a PE ratio of 21.82, a P/E/G ratio of 2.90 and a beta of 0.42.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.16. The business had revenue of $5.09 billion during the quarter, compared to analysts' expectations of $4.85 billion. American Electric Power had a net margin of 13.73% and a return on equity of 11.68%. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.25 earnings per share. Equities analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th will be issued a $0.93 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $3.72 annualized dividend and a yield of 3.28%. American Electric Power's dividend payout ratio (DPR) is presently 71.68%.

Insider Activity

In other news, EVP Quinton S. Lies sold 10,141 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $102.68, for a total transaction of $1,041,277.88. Following the completion of the transaction, the executive vice president directly owned 9,658 shares of the company's stock, valued at $991,683.44. The trade was a 51.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Matthew Feinberg sold 8,058 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total transaction of $819,820.92. Following the transaction, the executive vice president directly owned 10,274 shares of the company's stock, valued at $1,045,276.76. The trade was a 43.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,314 shares of company stock valued at $3,508,293 over the last ninety days. Corporate insiders own 0.07% of the company's stock.

Analyst Ratings Changes

AEP has been the topic of a number of analyst reports. UBS Group boosted their price objective on shares of American Electric Power from $95.00 to $100.00 and gave the company a "sell" rating in a research report on Friday, June 6th. Raymond James Financial assumed coverage on shares of American Electric Power in a research note on Friday, June 13th. They set an "outperform" rating and a $115.00 target price on the stock. Barclays lifted their target price on shares of American Electric Power from $95.00 to $106.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 22nd. Guggenheim lifted their target price on shares of American Electric Power from $109.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Finally, BMO Capital Markets lifted their target price on shares of American Electric Power from $111.00 to $115.00 and gave the company an "outperform" rating in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $108.31.

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.