Envestnet Asset Management Inc. Raises Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Envestnet Asset Management Inc. increased its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,230,011 shares of the company's stock after buying an additional 53,176 shares during the quarter. Envestnet Asset Management Inc. owned 0.61% of American Electric Power worth $352,943,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of American Electric Power during the fourth quarter valued at approximately $25,000. EQ Wealth Advisors LLC purchased a new position in American Electric Power during the 1st quarter valued at $25,000. Fourth Dimension Wealth LLC purchased a new position in American Electric Power during the 4th quarter valued at $28,000. Bank of New Hampshire purchased a new position in American Electric Power during the 1st quarter valued at $28,000. Finally, Fairway Wealth LLC purchased a new position in shares of American Electric Power during the fourth quarter valued at about $32,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Stock Down 0.7%

Shares of NASDAQ AEP traded down $0.70 during trading on Friday, reaching $105.34. The company had a trading volume of 2,473,878 shares, compared to its average volume of 3,226,904. American Electric Power Company, Inc. has a 12-month low of $89.84 and a 12-month high of $110.48. The stock has a market cap of $56.27 billion, a PE ratio of 20.30, a P/E/G ratio of 2.82 and a beta of 0.42. The business's 50-day moving average is $103.00 and its 200 day moving average is $102.25. The company has a quick ratio of 0.31, a current ratio of 0.42 and a debt-to-equity ratio of 1.42.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $5.46 billion for the quarter, compared to analysts' expectations of $5.33 billion. During the same period in the prior year, the firm posted $1.27 earnings per share. The company's quarterly revenue was up 8.7% on a year-over-year basis. As a group, equities 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 company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend was Friday, May 9th. American Electric Power's payout ratio is 71.68%.

Analysts Set New Price Targets

Several brokerages recently issued reports on AEP. BMO Capital Markets boosted their price target on shares of American Electric Power from $111.00 to $115.00 and gave the company an "outperform" rating in a research report on Monday, April 21st. UBS Group upped 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. Guggenheim upped their target price on American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Citigroup upped their price target on American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company upped their price target on 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $108.31.

Insider Buying and Selling at American Electric Power

In other American Electric Power news, EVP Quinton S. Lies sold 10,141 shares of the 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 sale, the executive vice president directly owned 9,658 shares in the company, valued at approximately $991,683.44. This trade represents a 51.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David Matthew Feinberg sold 8,058 shares of the stock in a transaction 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 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. Over the last quarter, insiders have sold 34,314 shares of company stock worth $3,508,293. Company insiders own 0.07% of the company's stock.

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.