American Electric Power Company, Inc. (NASDAQ:AEP) Shares Bought by Maple Brown Abbott Ltd

Key Points

• Maple Brown Abbott Ltd increased its stake in American Electric Power by 29.3%, now owning 874,707 shares valued at approximately $95.6 million, making it the fund's 6th largest holding.
• American Electric Power achieved a quarterly earnings per share (EPS) of $1.43, beating estimates and representing an 11.1% increase in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.93, translating to an annual dividend yield of 3.3% and a dividend payout ratio of 54.39%.

Maple Brown Abbott Ltd increased its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 29.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 874,707 shares of the company's stock after purchasing an additional 198,257 shares during the period. American Electric Power accounts for 6.5% of Maple Brown Abbott Ltd's portfolio, making the stock its 6th largest holding. Maple Brown Abbott Ltd owned about 0.16% of American Electric Power worth $95,587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the stock. Nuveen LLC acquired a new stake in American Electric Power during the 1st quarter worth $568,042,000. Lazard Asset Management LLC grew its holdings in American Electric Power by 51.0% during the 4th quarter. Lazard Asset Management LLC now owns 6,416,474 shares of the company's stock worth $591,791,000 after acquiring an additional 2,165,888 shares during the period. GAMMA Investing LLC grew its holdings in American Electric Power by 13,499.5% during the 1st quarter. GAMMA Investing LLC now owns 2,150,215 shares of the company's stock worth $234,954,000 after acquiring an additional 2,134,404 shares during the period. Bessemer Group Inc. grew its holdings in American Electric Power by 4,567.3% during the 1st quarter. Bessemer Group Inc. now owns 1,764,677 shares of the company's stock worth $192,827,000 after acquiring an additional 1,726,868 shares during the period. Finally, Bank of America Corp DE grew its holdings in American Electric Power by 27.5% during the 4th quarter. Bank of America Corp DE now owns 5,120,568 shares of the company's stock worth $472,270,000 after acquiring an additional 1,105,317 shares during the period. Institutional investors own 75.24% of the company's stock.

Insiders Place Their Bets

In related news, EVP David Matthew Feinberg sold 8,058 shares of the company's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total value of $819,820.92. Following the completion of the transaction, the executive vice president directly owned 10,274 shares of the company's stock, valued at approximately $1,045,276.76. This represents a 43.96% 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 Quinton S. Lies sold 10,141 shares of the company's stock in a transaction on Monday, May 19th. The stock was 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 approximately $991,683.44. The trade was a 51.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,314 shares of company stock valued at $3,508,293. Company insiders own 0.07% of the company's stock.

American Electric Power Stock Down 0.2%

NASDAQ AEP traded down $0.25 on Thursday, reaching $112.86. The company had a trading volume of 2,230,746 shares, compared to its average volume of 3,739,387. The firm has a market capitalization of $60.36 billion, a price-to-earnings ratio of 16.50, a price-to-earnings-growth 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. American Electric Power Company, Inc. has a 1-year low of $89.91 and a 1-year high of $115.36. The company's fifty day moving average is $106.51 and its 200-day moving average is $104.91.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced 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. The firm had revenue of $5.09 billion during the quarter, compared to analyst estimates of $4.85 billion. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.25 EPS. On average, research analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

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

Analysts Set New Price Targets

AEP has been the subject of a number of analyst reports. Raymond James Financial reaffirmed an "outperform" rating and set a $122.00 target price (up previously from $115.00) on shares of American Electric Power in a report on Thursday, July 31st. BMO Capital Markets boosted their price target on shares of American Electric Power from $111.00 to $115.00 and gave the company an "outperform" rating in a report on Monday, April 21st. Morgan Stanley decreased their price target on shares of American Electric Power from $114.00 to $113.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. Scotiabank boosted their price target on shares of American Electric Power from $102.00 to $114.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. Finally, Mizuho set a $116.00 price target on shares of American Electric Power and gave the company a "neutral" rating in a report on Thursday, July 31st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $111.29.

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.