Commonwealth Equity Services LLC Raises Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Key Points

• Commonwealth Equity Services LLC increased its stake in American Electric Power by 4.8%, now holding approximately 360,192 shares valued at $39.36 million.
• Several institutional investors, including Kingswood Wealth Advisors and Wealth Enhancement Advisory Services, also boosted their positions in the company during the first quarter, reflecting a strong interest in AEP.
• Analysts have raised price targets for American Electric Power, with estimates ranging from $109.00 to $122.00, indicating optimism about the stock's performance.

Commonwealth Equity Services LLC raised its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 4.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 360,192 shares of the company's stock after acquiring an additional 16,564 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.07% of American Electric Power worth $39,358,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Kingswood Wealth Advisors LLC lifted its holdings in American Electric Power by 14.8% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,331 shares of the company's stock worth $364,000 after buying an additional 430 shares during the last quarter. Ritholtz Wealth Management purchased a new stake in American Electric Power during the 1st quarter valued at approximately $262,000. Robertson Stephens Wealth Management LLC acquired a new position in American Electric Power during the 1st quarter worth approximately $205,000. GAMMA Investing LLC increased its position in American Electric Power by 24.5% during the 1st quarter. GAMMA Investing LLC now owns 19,678 shares of the company's stock worth $2,150,000 after purchasing an additional 3,867 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in American Electric Power by 26.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 355,516 shares of the company's stock worth $38,848,000 after purchasing an additional 73,488 shares during the period. 75.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Quinton S. Lies sold 10,141 shares of the stock in a transaction dated 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 owned 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 document filed with the SEC, which is available at this hyperlink. Also, EVP David Matthew Feinberg sold 8,058 shares of the firm'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 of the company's stock, valued at approximately $1,045,276.76. The trade was a 43.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,314 shares of company stock valued at $3,508,293 in the last three months. Company insiders own 0.07% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on AEP shares. BMO Capital Markets boosted their target price on American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a research report on Monday, April 21st. Morgan Stanley lowered their price target on American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a report on Thursday, May 22nd. Raymond James Financial restated an "outperform" rating and issued a $122.00 price target (up previously from $115.00) on shares of American Electric Power in a report on Thursday, July 31st. Citigroup upped their price target on American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Finally, Guggenheim upped their price target on American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $111.29.

American Electric Power Price Performance

NASDAQ AEP opened at $115.00 on Tuesday. The stock has a market capitalization of $61.50 billion, a P/E ratio of 16.81, a P/E/G ratio of 3.02 and a beta of 0.40. American Electric Power Company, Inc. has a 1 year low of $89.91 and a 1 year high of $115.29. The business's fifty day moving average is $104.85 and its two-hundred day moving average is $104.19. 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 (NASDAQ:AEP - Get Free Report) last posted its quarterly 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 business had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $4.85 billion. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. American Electric Power'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 posted $1.25 earnings per share. 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 8th will be given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, August 8th. American Electric Power's dividend payout ratio is 54.39%.

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.

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