First National Bank of Mount Dora Trust Investment Services trimmed its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 19.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,887 shares of the company's stock after selling 3,388 shares during the period. First National Bank of Mount Dora Trust Investment Services' holdings in American Electric Power were worth $1,517,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Sonora Investment Management Group LLC grew its stake in shares of American Electric Power by 8.7% in the 1st quarter. Sonora Investment Management Group LLC now owns 2,596 shares of the company's stock worth $284,000 after buying an additional 207 shares in the last quarter. Accurate Wealth Management LLC grew its stake in shares of American Electric Power by 11.0% in the 1st quarter. Accurate Wealth Management LLC now owns 9,147 shares of the company's stock worth $957,000 after buying an additional 910 shares in the last quarter. Simplicity Wealth LLC purchased a new position in shares of American Electric Power in the 1st quarter worth $213,000. GAMMA Investing LLC grew its stake in shares of American Electric Power by 24.5% in the 1st quarter. GAMMA Investing LLC now owns 19,678 shares of the company's stock worth $2,150,000 after buying an additional 3,867 shares in the last quarter. Finally, Yousif Capital Management LLC grew its stake in shares of American Electric Power by 0.3% in the 1st quarter. Yousif Capital Management LLC now owns 82,441 shares of the company's stock worth $9,008,000 after buying an additional 255 shares in the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.
American Electric Power Trading Down 0.1%
American Electric Power stock traded down $0.12 during trading hours on Friday, hitting $102.90. The company had a trading volume of 2,388,673 shares, compared to its average volume of 3,199,796. The firm has a market cap of $54.97 billion, a P/E ratio of 18.38, a P/E/G ratio of 2.97 and a beta of 0.42. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44. 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 50-day moving average price of $104.17 and a two-hundred day moving average price of $101.12.
American Electric Power (NASDAQ:AEP - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.14. The company had revenue of $5.46 billion during the quarter, compared to analysts' expectations of $5.33 billion. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. The firm's quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.27 EPS. On average, sell-side analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.
American Electric Power Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a $0.93 dividend. The ex-dividend date was Friday, May 9th. This represents a $3.72 annualized dividend and a dividend yield of 3.62%. American Electric Power's payout ratio is presently 71.68%.
Insider Transactions at American Electric Power
In related news, EVP Quinton S. Lies sold 10,141 shares of the 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 sale, the executive vice president now owns 9,658 shares of the company's stock, valued at $991,683.44. This represents a 51.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP David Matthew Feinberg sold 8,057 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $102.94, for a total transaction of $829,387.58. Following the sale, the executive vice president now directly owns 26,298 shares of the company's stock, valued at $2,707,116.12. The trade was a 23.45% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,256 shares of company stock valued at $2,688,472. Company insiders own 0.07% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have commented on AEP shares. Guggenheim lifted their price objective on shares of American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Barclays lifted their target price on American Electric Power from $95.00 to $106.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 22nd. BMO Capital Markets lifted their price target on shares of American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a research note on Monday, April 21st. Citigroup lifted their price target 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. Finally, Raymond James began coverage on shares of American Electric Power in a research note on Friday. They set an "outperform" rating and a $115.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, American Electric Power currently has an average rating of "Hold" and a consensus price target of $108.31.
View Our Latest Analysis on American Electric Power
About American Electric Power
(
Free Report)
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.
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