Good Steward Wealth Advisors LLC purchased a new position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,147 shares of the company's stock, valued at approximately $562,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. OLD Second National Bank of Aurora purchased a new position in American Electric Power during the 1st quarter valued at about $111,000. Walter & Keenan Wealth Management LLC IN ADV grew its holdings in shares of American Electric Power by 2.2% during the 1st quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 8,415 shares of the company's stock valued at $920,000 after acquiring an additional 184 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of American Electric Power by 7.6% during the 1st quarter. Blue Trust Inc. now owns 5,691 shares of the company's stock valued at $622,000 after acquiring an additional 403 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in American Electric Power by 3.2% in the first quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 15,917 shares of the company's stock valued at $1,702,000 after purchasing an additional 494 shares in the last quarter. Finally, Silver Oak Securities Incorporated increased its position in American Electric Power by 27.1% in the 1st quarter. Silver Oak Securities Incorporated now owns 2,054 shares of the company's stock worth $220,000 after purchasing an additional 438 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on AEP shares. Wells Fargo & Company lifted their price target on American Electric Power from $107.00 to $114.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. Guggenheim upped their price target on shares of American Electric Power from $109.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. UBS Group increased their target price on American Electric Power from $95.00 to $100.00 and gave the company a "sell" rating in a research note on Friday, June 6th. Barclays raised their target price on American Electric Power from $95.00 to $106.00 and gave the company an "equal weight" rating in a report on Tuesday, April 22nd. Finally, BMO Capital Markets upped their price target on American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $108.31.
Read Our Latest Analysis on American Electric Power
American Electric Power Price Performance
American Electric Power stock traded up $0.55 during trading hours on Friday, hitting $101.75. 4,083,531 shares of the stock were exchanged, compared to its average volume of 3,211,986. The stock has a market capitalization of $54.35 billion, a P/E ratio of 19.61, a P/E/G ratio of 2.69 and a beta of 0.42. The business's 50-day moving average is $104.05 and its two-hundred day moving average is $101.21. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.31 and a current ratio of 0.42. American Electric Power Company, Inc. has a 12 month low of $85.93 and a 12 month high of $110.48.
American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.14. American Electric Power had a net margin of 13.73% and a return on equity of 11.68%. The business had revenue of $5.46 billion for the quarter, compared to the consensus estimate of $5.33 billion. During the same quarter in the prior year, the company earned $1.27 EPS. The firm's quarterly revenue was up 8.7% on a year-over-year basis. Equities research analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.
American Electric Power Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend was Friday, May 9th. American Electric Power's dividend payout ratio (DPR) is presently 71.68%.
Insider Transactions at American Electric Power
In other American Electric Power news, EVP David Matthew Feinberg sold 8,057 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $102.94, for a total value of $829,387.58. Following the completion of the sale, the executive vice president now owns 26,298 shares of the company's stock, valued at approximately $2,707,116.12. This represents a 23.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Quinton S. Lies sold 10,141 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $102.68, for a total value of $1,041,277.88. Following the sale, the executive vice president now directly owns 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 disclosure for this sale can be found here. Insiders sold a total of 34,314 shares of company stock worth $3,508,293 in the last quarter. 0.07% of the stock is owned by company insiders.
About American Electric Power
(
Free Report)
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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