Bearing Point Capital LLC decreased its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 12.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 49,216 shares of the company's stock after selling 7,070 shares during the period. Bearing Point Capital LLC's holdings in American Electric Power were worth $5,378,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in AEP. FourThought Financial Partners LLC grew its stake in American Electric Power by 4.7% during the first quarter. FourThought Financial Partners LLC now owns 3,321 shares of the company's stock valued at $363,000 after acquiring an additional 150 shares in the last quarter. Baron Silver Stevens Financial Advisors LLC purchased a new stake in shares of American Electric Power in the 1st quarter worth about $216,000. HB Wealth Management LLC increased its stake in shares of American Electric Power by 30.0% during the first quarter. HB Wealth Management LLC now owns 46,658 shares of the company's stock valued at $5,098,000 after purchasing an additional 10,758 shares in the last quarter. Drive Wealth Management LLC purchased a new stake in shares of American Electric Power in the first quarter worth $222,000. Finally, Assetmark Inc. grew its stake in shares of American Electric Power by 4.2% in the first quarter. Assetmark Inc. now owns 35,771 shares of the company's stock worth $3,909,000 after acquiring an additional 1,433 shares during the last quarter. Institutional investors own 75.24% of the company's stock.
Insider Buying and Selling at American Electric Power
In related 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 transaction of $1,041,277.88. Following the completion of the transaction, the executive vice president owned 9,658 shares in the company, valued at $991,683.44. The trade was a 51.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 sale, the executive vice president directly owned 10,274 shares in the company, valued at approximately $1,045,276.76. This represents a 43.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,314 shares of company stock worth $3,508,293 over the last 90 days. Insiders own 0.07% of the company's stock.
American Electric Power Trading Up 3.9%
Shares of NASDAQ AEP traded up $4.27 during midday trading on Wednesday, hitting $113.49. The stock had a trading volume of 4,476,600 shares, compared to its average volume of 3,554,103. American Electric Power Company, Inc. has a fifty-two week low of $89.91 and a fifty-two week high of $113.66. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.42 and a quick ratio of 0.31. The firm has a market cap of $60.63 billion, a P/E ratio of 21.85, a price-to-earnings-growth ratio of 2.87 and a beta of 0.42. The company's 50-day simple moving average is $103.96 and its 200 day simple moving average is $103.63.
American Electric Power (NASDAQ:AEP - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.16. American Electric Power had a return on equity of 11.68% and a net margin of 13.73%. The business had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the prior year, the business posted $1.25 earnings per share. American Electric Power's quarterly revenue was up 11.1% on a year-over-year basis. Research analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current year.
American Electric Power Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Friday, August 8th. American Electric Power's dividend payout ratio is presently 71.68%.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the stock. Guggenheim boosted their price target on shares of American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. BMO Capital Markets increased their price target on shares of American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a report on Monday, April 21st. Barclays raised their price objective on American Electric Power from $95.00 to $106.00 and gave the company an "equal weight" rating in a report on Tuesday, April 22nd. UBS Group boosted their price objective on shares of American Electric Power from $95.00 to $100.00 and gave the company a "sell" rating in a report on Friday, June 6th. Finally, Morgan Stanley lowered their price objective on American Electric Power from $114.00 to $113.00 and set an "overweight" rating for the company in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $108.31.
View Our Latest Research Report on AEP
American Electric Power Profile
(
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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