American Electric Power Company, Inc. (NASDAQ:AEP) Shares Bought by GQG Partners LLC

Key Points

• GQG Partners LLC increased its holdings in American Electric Power by 30.4%, owning approximately 19.6 million shares valued at $2.15 billion, making it the firm's 9th largest position.
• Several hedge funds have also modified their stakes in AEP, with institutional investors collectively owning 75.24% of the company's stock.
• American Electric Power recently declared a quarterly dividend of $0.93, with an annualized dividend yield of 3.3%, as stock performance shows a slight downturn.

GQG Partners LLC raised its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 30.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,631,466 shares of the company's stock after acquiring an additional 4,570,941 shares during the period. American Electric Power makes up 3.4% of GQG Partners LLC's holdings, making the stock its 9th largest position. GQG Partners LLC owned approximately 3.67% of American Electric Power worth $2,145,130,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in AEP. Kingswood Wealth Advisors LLC increased its position in shares of American Electric Power by 14.8% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,331 shares of the company's stock valued at $364,000 after purchasing an additional 430 shares during the period. Ritholtz Wealth Management acquired a new position in shares of American Electric Power during the 1st quarter valued at $262,000. Robertson Stephens Wealth Management LLC acquired a new position in shares of American Electric Power during the 1st quarter valued at $205,000. GAMMA Investing LLC grew its holdings in shares of 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 acquiring an additional 3,867 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of 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 acquiring an additional 73,488 shares during the last quarter. Institutional investors own 75.24% of the company's stock.

American Electric Power Stock Down 0.2%

Shares of AEP stock traded down $0.25 on Thursday, reaching $112.86. 2,230,746 shares of the company's stock traded hands, compared to its average volume of 3,739,387. American Electric Power Company, Inc. has a 12-month low of $89.91 and a 12-month high of $115.36. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.41 and a current ratio of 0.55. The company has a market capitalization of $60.36 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 3.00 and a beta of 0.40. The business's 50 day moving average price is $106.51 and its two-hundred day moving average price is $104.91.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.16. American Electric Power had a return on equity of 11.55% and a net margin of 17.68%. The business had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the previous year, the company posted $1.25 earnings per share. American Electric Power's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AEP shares. Morgan Stanley decreased their target price on American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a report on Thursday, May 22nd. UBS Group lifted their target price on American Electric Power from $100.00 to $110.00 and gave the stock a "sell" rating in a report on Thursday, July 31st. Guggenheim lifted 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. Barclays lifted their target price on American Electric Power from $105.00 to $111.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Finally, Scotiabank lifted their target price on American Electric Power from $102.00 to $114.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $111.29.

Insiders Place Their Bets

In related news, EVP Quinton S. Lies sold 10,141 shares of American Electric Power 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 completion of the sale, the executive vice president owned 9,658 shares of the company's stock, valued at approximately $991,683.44. This trade represents a 51.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 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 of the company's stock, valued at approximately $1,045,276.76. The trade was a 43.96% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,314 shares of company stock valued at $3,508,293. 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.