Toronto Dominion Bank Cuts Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Toronto Dominion Bank reduced its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 313,518 shares of the company's stock after selling 13,736 shares during the period. Toronto Dominion Bank owned 0.06% of American Electric Power worth $28,915,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ bought a new stake in American Electric Power during the fourth quarter worth about $25,000. Fairway Wealth LLC purchased a new position in shares of American Electric Power during the fourth quarter valued at approximately $32,000. Newbridge Financial Services Group Inc. purchased a new position in shares of American Electric Power during the fourth quarter valued at approximately $35,000. Kestra Investment Management LLC bought a new stake in shares of American Electric Power in the 4th quarter worth approximately $35,000. Finally, Lee Danner & Bass Inc. purchased a new stake in shares of American Electric Power in the 4th quarter worth approximately $38,000. 75.24% of the stock is owned by institutional investors.

Insiders Place Their Bets

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 owns 9,658 shares of the company's stock, valued at approximately $991,683.44. This represents a 51.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.07% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on AEP. Citigroup upped their target price on shares of American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Barclays boosted their price objective on shares of American Electric Power from $95.00 to $106.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 22nd. Guggenheim increased their target price on American Electric Power from $109.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Morgan Stanley decreased their price target on American Electric Power from $114.00 to $113.00 and set an "overweight" rating for the company in a research note on Thursday. Finally, Wells Fargo & Company increased their price objective on 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $105.69.

American Electric Power Stock Performance

Shares of NASDAQ AEP traded down $1.13 during midday trading on Thursday, hitting $101.80. 3,284,005 shares of the company's stock traded hands, compared to its average volume of 3,207,669. The firm has a fifty day moving average of $105.24 and a 200 day moving average of $100.43. 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 quick ratio of 0.31 and a current ratio of 0.44. The stock has a market capitalization of $54.38 billion, a price-to-earnings ratio of 18.18, a price-to-earnings-growth ratio of 2.97 and a beta of 0.45.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $5.33 billion. During the same period in the prior year, the business posted $1.27 EPS. American Electric Power's revenue was up 8.7% on a year-over-year basis. On average, analysts forecast 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 disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be paid a dividend of $0.93 per share. The ex-dividend date is Friday, May 9th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.65%. American Electric Power's dividend payout ratio (DPR) is presently 71.68%.

American Electric Power Company 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.