Foundations Investment Advisors LLC Grows Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Key Points

• Foundations Investment Advisors LLC increased its stake in American Electric Power Company by 83.6%, acquiring an additional 6,305 shares, bringing its total holdings to 13,846 shares valued at approximately $1.51 million.
• The company's stock price is currently at $109.22, with a market cap of $58.35 billion and a notable earnings report revealing a 13.73% net margin and a year-over-year revenue increase of 8.7%.
• American Electric Power recently announced a quarterly dividend of $0.93 per share, equating to an annualized yield of 3.41%, with a current payout ratio of 71.68%.

Foundations Investment Advisors LLC grew its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 83.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,846 shares of the company's stock after acquiring an additional 6,305 shares during the period. Foundations Investment Advisors LLC's holdings in American Electric Power were worth $1,513,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AEP. Geode Capital Management LLC lifted its position in shares of American Electric Power by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 12,808,003 shares of the company's stock valued at $1,178,174,000 after acquiring an additional 283,311 shares in the last quarter. Invesco Ltd. grew its holdings in shares of American Electric Power by 9.1% in the fourth quarter. Invesco Ltd. now owns 8,603,600 shares of the company's stock valued at $793,510,000 after purchasing an additional 716,229 shares in the last quarter. Royal Bank of Canada increased its position in American Electric Power by 1.2% in the fourth quarter. Royal Bank of Canada now owns 7,047,428 shares of the company's stock worth $649,983,000 after purchasing an additional 85,756 shares during the last quarter. Lazard Asset Management LLC raised its stake in American Electric Power by 51.0% during the fourth quarter. Lazard Asset Management LLC now owns 6,416,474 shares of the company's stock valued at $591,791,000 after purchasing an additional 2,165,888 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in American Electric Power by 27.5% during the fourth quarter. Bank of America Corp DE now owns 5,120,568 shares of the company's stock valued at $472,270,000 after purchasing an additional 1,105,317 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Mizuho lifted their price target on American Electric Power from $109.00 to $116.00 and gave the stock a "neutral" rating in a research report on Thursday. Barclays boosted their target price on American Electric Power from $105.00 to $111.00 and gave the company an "equal weight" rating in a research report on Friday. Wells Fargo & Company raised their price target on American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. Morgan Stanley cut their price objective 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. Finally, Scotiabank raised their target price on shares of American Electric Power from $102.00 to $114.00 and gave the stock a "sector perform" rating in a report on Thursday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $111.29.

American Electric Power Stock Up 0.4%

American Electric Power stock traded up $0.44 during midday trading on Friday, hitting $113.58. 4,925,406 shares of the company's stock were exchanged, compared to its average volume of 3,067,441. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.31 and a current ratio of 0.55. The company has a market cap of $60.74 billion, a PE ratio of 16.61, a P/E/G ratio of 3.00 and a beta of 0.40. The firm has a 50-day moving average of $104.39 and a two-hundred day moving average of $103.82. American Electric Power Company, Inc. has a 12 month low of $89.91 and a 12 month high of $114.38.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.16. The firm had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $4.85 billion. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The company's quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm earned $1.25 earnings per share. As a group, analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 8th will be paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Friday, August 8th. American Electric Power's dividend payout ratio is 54.39%.

Insiders Place Their Bets

In other American Electric Power news, EVP Quinton S. Lies sold 10,141 shares of the business'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 transaction, the executive vice president directly owned 9,658 shares in the company, valued at approximately $991,683.44. The trade was a 51.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP David Matthew Feinberg sold 8,058 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total transaction of $819,820.92. Following the sale, the executive vice president directly owned 10,274 shares of the company's stock, valued at approximately $1,045,276.76. The trade was a 43.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,314 shares of company stock valued at $3,508,293 over the last 90 days. 0.07% of the stock is currently owned by company insiders.

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.