American Electric Power Company, Inc. (NASDAQ:AEP) Shares Acquired by Forsta AP Fonden

Key Points

• Forsta AP Fonden increased its stake in American Electric Power Company by 40.3% during the 1st quarter, bringing their total holdings to 160,200 shares valued at approximately $17.5 million.
• The company reported earnings of $1.43 per share for the last quarter, surpassing analyst estimates and representing an 11.1% year-over-year revenue growth.
• Several hedge funds have recently raised their positions in American Electric Power, reflecting a strong interest from institutional investors, which currently own 75.24% of the stock.

Forsta AP Fonden grew its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 40.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 160,200 shares of the company's stock after buying an additional 46,000 shares during the quarter. Forsta AP Fonden's holdings in American Electric Power were worth $17,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Buying and Selling at American Electric Power

In other American Electric Power news, EVP Quinton S. Lies sold 10,141 shares of American Electric Power stock in a transaction 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 transaction, the executive vice president directly owned 9,658 shares of the company's stock, valued at approximately $991,683.44. The trade was a 51.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Matthew Feinberg sold 8,058 shares of American Electric Power stock in a transaction 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 completion of the transaction, the executive vice president directly owned 10,274 shares in the company, valued at $1,045,276.76. This represents a 43.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,314 shares of company stock worth $3,508,293 over the last ninety days. Corporate insiders own 0.07% of the company's stock.

American Electric Power Stock Down 0.0%

AEP stock traded down $0.01 during trading on Tuesday, hitting $111.99. 2,576,390 shares of the company's stock traded hands, compared to its average volume of 3,597,413. The firm has a market capitalization of $59.89 billion, a P/E ratio of 16.37, a PEG ratio of 2.99 and a beta of 0.40. The business has a fifty day simple moving average of $105.88 and a two-hundred day simple moving average of $104.73. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.33. American Electric Power Company, Inc. has a 1 year low of $89.91 and a 1 year high of $115.36.

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 (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.16. The company had revenue of $5.09 billion for the quarter, compared to analyst estimates 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 was up 11.1% compared to the same quarter last year. During the same period last year, the company posted $1.25 earnings per share. Sell-side analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 8th will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, August 8th. American Electric Power's payout ratio is currently 54.39%.

Wall Street Analysts Forecast Growth

AEP has been the subject of a number of analyst reports. Mizuho set a $116.00 price target on American Electric Power and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Guggenheim raised 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. Citigroup raised their price objective on shares of American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Morgan Stanley decreased their price target 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, Scotiabank lifted their price target on shares of American Electric Power from $102.00 to $114.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $111.29.

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.