Envestnet Portfolio Solutions Inc. Sells 5,867 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Envestnet Portfolio Solutions Inc. lessened its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 14.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,422 shares of the company's stock after selling 5,867 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in American Electric Power were worth $3,652,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AEP. Brighton Jones LLC boosted its position in shares of American Electric Power by 11.5% in the fourth quarter. Brighton Jones LLC now owns 10,601 shares of the company's stock valued at $978,000 after acquiring an additional 1,095 shares during the period. Principal Securities Inc. boosted its position in shares of American Electric Power by 23.5% in the fourth quarter. Principal Securities Inc. now owns 5,257 shares of the company's stock valued at $485,000 after acquiring an additional 1,002 shares during the period. Kestra Investment Management LLC bought a new stake in shares of American Electric Power in the fourth quarter valued at approximately $35,000. Global Retirement Partners LLC boosted its position in shares of American Electric Power by 7.7% in the fourth quarter. Global Retirement Partners LLC now owns 6,198 shares of the company's stock valued at $572,000 after acquiring an additional 444 shares during the period. Finally, Private Advisor Group LLC boosted its position in shares of American Electric Power by 2.7% in the fourth quarter. Private Advisor Group LLC now owns 56,880 shares of the company's stock valued at $5,246,000 after acquiring an additional 1,505 shares during the period. Institutional investors and hedge funds own 75.24% of the company's stock.

American Electric Power Stock Up 0.5%

AEP opened at $101.75 on Friday. The firm has a market cap of $54.35 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 2.70 and a beta of 0.42. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.31 and a current ratio of 0.42. The firm's 50-day simple moving average is $104.05 and its 200-day simple moving average is $101.24. American Electric Power Company, Inc. has a twelve month low of $85.93 and a twelve month high of $110.48.

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

American Electric Power Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date was Friday, May 9th. American Electric Power's dividend payout ratio (DPR) is currently 71.68%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AEP shares. Guggenheim increased their price objective on American Electric Power from $109.00 to $115.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. BMO Capital Markets increased their price objective on American Electric Power from $111.00 to $115.00 and gave the company an "outperform" rating in a research report on Monday, April 21st. Bank of America increased their price objective on American Electric Power from $108.00 to $114.00 and gave the company a "buy" rating in a research report on Tuesday, March 18th. Raymond James Financial started coverage on American Electric Power in a research note on Friday, June 13th. They issued an "outperform" rating and a $115.00 target price for the company. Finally, Barclays upped their target price on American Electric Power from $95.00 to $106.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 22nd. One investment 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's stock. According to data from MarketBeat, the stock 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 firm's 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 sale, the executive vice president now owns 9,658 shares in the company, valued at approximately $991,683.44. This trade represents a 51.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP David Matthew Feinberg sold 8,058 shares of the firm's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $101.49, for a total transaction of $817,806.42. Following the completion of the sale, the executive vice president now owns 18,332 shares of the company's stock, valued at $1,860,514.68. The trade was a 30.53% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,314 shares of company stock worth $3,508,293. 0.07% of the stock is currently owned by corporate insiders.

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.

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