JPMorgan Chase & Co. Has $285.19 Million Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Key Points

• JPMorgan Chase & Co. reduced its holdings in American Electric Power by 1.1%, after selling 28,080 shares, bringing their total ownership to approximately $285 million.
• Analyst consensus for American Electric Power has a mixed sentiment, with one sell rating, eight hold ratings, and five buy ratings, while the average target price stands at $111.29.
• The company reported an earnings per share (EPS) of $1.43 for the last quarter, beating analyst expectations by $0.16 and reflecting an 11.1% year-over-year revenue growth.

JPMorgan Chase & Co. cut its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 1.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,609,911 shares of the company's stock after selling 28,080 shares during the period. JPMorgan Chase & Co. owned about 0.49% of American Electric Power worth $285,185,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in American Electric Power by 1.1% in the first quarter. Vanguard Group Inc. now owns 52,269,781 shares of the company's stock valued at $5,711,519,000 after purchasing an additional 579,175 shares in the last quarter. Royal Bank of Canada grew its position in American Electric Power by 1.2% in the fourth quarter. Royal Bank of Canada now owns 7,047,428 shares of the company's stock valued at $649,983,000 after purchasing an additional 85,756 shares in the last quarter. Lazard Asset Management LLC grew its position in 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 valued at $591,791,000 after purchasing an additional 2,165,888 shares in the last quarter. Bank of America Corp DE grew its position in 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 valued at $472,270,000 after purchasing an additional 1,105,317 shares in the last quarter. Finally, Northern Trust Corp grew its position in American Electric Power by 6.0% in the fourth quarter. Northern Trust Corp now owns 4,851,264 shares of the company's stock valued at $447,432,000 after purchasing an additional 272,997 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

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 3,739,387. The stock has a market cap of $60.36 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 3.00 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 $106.51 and its 200-day moving average price is $104.91. 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.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Citigroup raised their target price on shares of American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. UBS Group lifted their price objective on shares of American Electric Power from $100.00 to $110.00 and gave the company a "sell" rating in a research report on Thursday, July 31st. Mizuho set a $116.00 price objective on shares of American Electric Power and gave the company a "neutral" rating in a research report on Thursday, July 31st. Barclays lifted their price objective on shares of American Electric Power from $105.00 to $111.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Finally, Guggenheim lifted their price objective on shares of American Electric Power from $109.00 to $115.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. 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's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $111.29.

About American Electric Power

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.