HighTower Advisors LLC Acquires 667,129 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Key Points

• HighTower Advisors LLC increased its stake in American Electric Power by 53.8%, acquiring an additional 667,129 shares, bringing its total ownership to approximately $208.36 million.
• Wall Street analysts have set a consensus target price of $111.29 for American Electric Power, with several firms raising their price objectives and ratings.
• American Electric Power recently announced a quarterly dividend of $0.93, reflecting a dividend yield of 3.3% and a payout ratio of 54.39%.

HighTower Advisors LLC boosted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 53.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,906,835 shares of the company's stock after acquiring an additional 667,129 shares during the quarter. HighTower Advisors LLC owned 0.36% of American Electric Power worth $208,360,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of American Electric Power by 11.5% during the fourth quarter. Brighton Jones LLC now owns 10,601 shares of the company's stock worth $978,000 after purchasing an additional 1,095 shares in the last quarter. LSV Asset Management lifted its holdings in American Electric Power by 18.0% in the fourth quarter. LSV Asset Management now owns 77,510 shares of the company's stock valued at $7,149,000 after buying an additional 11,800 shares during the period. Townsquare Capital LLC raised its holdings in American Electric Power by 6.8% in the fourth quarter. Townsquare Capital LLC now owns 49,894 shares of the company's stock worth $4,602,000 after purchasing an additional 3,181 shares during the period. Sagespring Wealth Partners LLC acquired a new stake in American Electric Power in the fourth quarter worth $651,000. Finally, Advisors Capital Management LLC raised its holdings in American Electric Power by 10.3% in the fourth quarter. Advisors Capital Management LLC now owns 4,192 shares of the company's stock worth $387,000 after purchasing an additional 391 shares during the period. 75.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AEP shares. UBS Group increased their price objective on shares of American Electric Power from $100.00 to $110.00 and gave the stock a "sell" rating in a research report on Thursday, July 31st. Barclays increased their price target on shares of American Electric Power from $105.00 to $111.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. BMO Capital Markets increased their price target 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. Morgan Stanley cut their target price on shares of American Electric Power from $114.00 to $113.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $122.00 price objective (up previously from $115.00) on shares of American Electric Power in a research note on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $111.29.

American Electric Power Price Performance

Shares of American Electric Power stock traded down $0.25 during midday trading on Thursday, hitting $112.86. 2,230,746 shares of the company traded hands, compared to its average volume of 3,595,063. The stock has a market cap of $60.36 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 2.97 and a beta of 0.40. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.41 and a current ratio of 0.55. The firm's fifty day moving average price is $106.29 and its 200-day moving average price is $104.83. American Electric Power Company, Inc. has a 12 month low of $89.91 and a 12 month high of $115.36.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.16. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The firm had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same period in the previous year, the firm posted $1.25 EPS. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, sell-side analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th will be given a $0.93 dividend. The ex-dividend date is Friday, August 8th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.3%. American Electric Power's payout ratio is 54.39%.

Insider Buying and Selling

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 value of $1,041,277.88. Following the transaction, the executive vice president owned 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Matthew Feinberg sold 8,058 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $101.74, for a total transaction of $819,820.92. Following the completion of the transaction, the executive vice president owned 10,274 shares in the company, valued at $1,045,276.76. This trade represents a 43.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,314 shares of company stock worth $3,508,293 in the last 90 days. Corporate insiders own 0.07% of the company's stock.

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.