Commerce Bank Raises Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Key Points

• Commerce Bank acquired an additional 18,963 shares, increasing its holdings in American Electric Power Company, Inc. by 4.0% to a total of 496,890 shares, valued at approximately $54.3 million.
• Insider transactions were notable, with EVP Quinton S. Lies and EVP David Matthew Feinberg selling a combined total of 18,199 shares, indicating a significant decrease in their stakes in the company.
• Analysts have recently revised their price targets for American Electric Power, with BMO Capital Markets setting a new target of $115.00, reflecting a generally positive outlook amidst various ratings from other investment firms.

Commerce Bank lifted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 4.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 496,890 shares of the company's stock after purchasing an additional 18,963 shares during the quarter. Commerce Bank owned 0.09% of American Electric Power worth $54,295,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. EQ Wealth Advisors LLC bought a new stake in American Electric Power during the first quarter worth $25,000. Bank of New Hampshire bought a new position in American Electric Power in the 1st quarter valued at $28,000. MJT & Associates Financial Advisory Group Inc. bought a new position in American Electric Power in the 1st quarter valued at $33,000. Fourth Dimension Wealth LLC bought a new position in American Electric Power in the 4th quarter valued at $28,000. Finally, IMA Advisory Services Inc. bought a new position in shares of American Electric Power during the 1st quarter worth $35,000. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Trading Down 1.8%

Shares of AEP stock traded down $2.02 during trading hours on Tuesday, reaching $112.98. The company's stock had a trading volume of 1,578,365 shares, compared to its average volume of 3,596,205. The stock has a market capitalization of $60.42 billion, a P/E ratio of 16.52, a P/E/G ratio of 3.02 and a beta of 0.40. American Electric Power Company, Inc. has a one year low of $89.91 and a one year high of $115.36. The firm's fifty day simple moving average is $104.85 and its 200 day simple moving average is $104.19. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.33.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $4.85 billion. American Electric Power had a return on equity of 11.55% and a net margin of 17.68%. The business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $1.25 EPS. Equities research analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have weighed in on AEP. Morgan Stanley cut their target price on shares of 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. Guggenheim increased their target price 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. Scotiabank increased their price objective on American Electric Power from $102.00 to $114.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. Mizuho set a $116.00 price objective on American Electric Power and gave the stock a "neutral" rating in a report on Thursday, July 31st. Finally, BMO Capital Markets increased their price objective on American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $111.29.

Insider Buying and Selling

In other American Electric Power news, EVP Quinton S. Lies sold 10,141 shares of the business's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $102.68, for a total value of $1,041,277.88. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP David Matthew Feinberg sold 8,058 shares of the business's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $101.74, for a total value of $819,820.92. Following the completion of the sale, the executive vice president directly owned 10,274 shares in the company, valued at $1,045,276.76. This trade represents a 43.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,314 shares of company stock valued at $3,508,293. 0.07% of the stock is currently owned by company insiders.

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.