American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Eagle Global Advisors LLC

Key Points

• Eagle Global Advisors LLC has reduced its position in American Electric Power by 20.7%, now holding 20,930 shares valued at approximately $2.29 million as of its latest SEC filing.
• American Electric Power reported an earnings per share (EPS) of $1.43 for the last quarter, exceeding analysts' expectations of $1.27, with a revenue of $5.09 billion, up 11.1% from last year.
• The company announced a quarterly dividend of $0.93, representing an annualized yield of 3.3%, with the ex-dividend date set for August 8th.

Eagle Global Advisors LLC decreased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 20.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,930 shares of the company's stock after selling 5,460 shares during the quarter. Eagle Global Advisors LLC's holdings in American Electric Power were worth $2,287,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. EQ Wealth Advisors LLC purchased a new position in shares of American Electric Power during the 1st quarter worth approximately $25,000. Fourth Dimension Wealth LLC acquired a new position in shares of American Electric Power in the 4th quarter valued at $28,000. Bank of New Hampshire acquired a new position in shares of American Electric Power during the 1st quarter valued at $28,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of American Electric Power during the 1st quarter valued at $33,000. Finally, IMA Advisory Services Inc. purchased a new stake in American Electric Power during the 1st quarter worth $35,000. Hedge funds and other institutional investors own 75.24% of the company's stock.

Insiders Place Their Bets

In other news, EVP David Matthew Feinberg sold 8,058 shares of the company's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $101.74, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Quinton S. Lies sold 10,141 shares of the company'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 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. This represents a 51.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,314 shares of company stock valued at $3,508,293 over the last ninety days. Insiders own 0.07% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Raymond James Financial reaffirmed an "outperform" rating and set a $122.00 price objective (up previously from $115.00) on shares of American Electric Power in a research report on Thursday, July 31st. Guggenheim upped 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. Wells Fargo & Company upped their price target on shares of American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. 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 note on Thursday, May 22nd. Finally, Citigroup boosted their price target on shares of American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $111.29.

American Electric Power Price Performance

Shares of AEP traded down $0.01 during mid-day trading on Tuesday, hitting $111.99. 2,576,390 shares of the stock were exchanged, compared to its average volume of 3,626,442. The company has a market cap of $59.89 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 2.97 and a beta of 0.40. American Electric Power Company, Inc. has a 52-week low of $89.91 and a 52-week high of $115.36. The firm has a 50-day moving average of $106.06 and a two-hundred day moving average of $104.78. 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 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. American Electric Power had a return on equity of 11.55% and a net margin of 17.68%. The firm had revenue of $5.09 billion during the quarter, compared to analysts' expectations of $4.85 billion. During the same period in the prior year, the business posted $1.25 EPS. The firm's quarterly revenue was up 11.1% on a year-over-year basis. On average, equities analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, August 8th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.3%. American Electric Power's payout ratio is presently 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.