Cutter & CO Brokerage Inc. Takes Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Cutter & CO Brokerage Inc. acquired a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,830 shares of the company's stock, valued at approximately $309,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ bought a new stake in American Electric Power during the fourth quarter worth approximately $25,000. EQ Wealth Advisors LLC acquired a new position in shares of American Electric Power during the 1st quarter valued at $25,000. Fourth Dimension Wealth LLC acquired a new position in shares of American Electric Power during the 4th quarter valued at $28,000. Bank of New Hampshire bought a new stake in shares of American Electric Power in the 1st quarter worth $28,000. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of American Electric Power in the fourth quarter valued at $38,000. 75.24% of the stock is owned by institutional investors.

Insider Transactions at American Electric Power

In other American Electric Power news, EVP David Matthew Feinberg sold 8,058 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president owned 10,274 shares in the company, valued at approximately $1,045,276.76. This represents a 43.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 in the company, valued at $991,683.44. This trade represents a 51.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,314 shares of company stock worth $3,508,293 in the last quarter. 0.07% of the stock is owned by corporate insiders.

American Electric Power Trading Up 1.0%

American Electric Power stock traded up $1.09 during midday trading on Wednesday, reaching $105.49. The stock had a trading volume of 2,497,078 shares, compared to its average volume of 3,230,601. American Electric Power Company, Inc. has a twelve month low of $89.91 and a twelve month high of $110.48. 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 $56.35 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 2.77 and a beta of 0.42. The firm's fifty day simple moving average is $102.85 and its two-hundred day simple moving average is $102.52.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.40 by $0.14. American Electric Power had a return on equity of 11.68% and a net margin of 13.73%. The business had revenue of $5.46 billion during the quarter, compared to analysts' expectations of $5.33 billion. During the same quarter last year, the firm posted $1.27 earnings per share. American Electric Power's revenue was up 8.7% compared to the same quarter last year. Equities analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a dividend of $0.93 per share. The ex-dividend date was Friday, May 9th. This represents a $3.72 annualized dividend and a yield of 3.53%. American Electric Power's dividend payout ratio (DPR) is presently 71.68%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AEP. UBS Group lifted their target price on American Electric Power from $95.00 to $100.00 and gave the stock a "sell" rating in a report on Friday, June 6th. Barclays lifted their price objective on shares of American Electric Power from $95.00 to $106.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 22nd. Citigroup boosted their target price on shares of American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. BMO Capital Markets raised their target price 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. Finally, Morgan Stanley decreased their price target on shares of American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a research report on Thursday, May 22nd. 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. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $108.31.

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.