Harrell Investment Partners LLC Invests $784,000 in American Electric Power Company, Inc. (NASDAQ:AEP)

Harrell Investment Partners LLC acquired a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 7,174 shares of the company's stock, valued at approximately $784,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in AEP. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of American Electric Power during the 4th quarter worth approximately $25,000. Fourth Dimension Wealth LLC purchased a new position in shares of American Electric Power during the 4th quarter valued at approximately $28,000. Bank of New Hampshire purchased a new position in shares of American Electric Power during the 1st quarter valued at approximately $28,000. Fairway Wealth LLC purchased a new position in shares of American Electric Power during the 4th quarter valued at approximately $32,000. Finally, Kestra Investment Management LLC purchased a new position in shares of American Electric Power during the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 75.24% of the company's stock.

Insider Activity

In other news, 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 transaction of $1,041,277.88. Following the sale, the executive vice president now directly owns 9,658 shares in the company, valued at approximately $991,683.44. This represents a 51.22% decrease in their position. The sale 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 the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $101.74, for a total value of $819,820.92. Following the sale, the executive vice president now owns 10,274 shares in the company, valued at $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. Over the last quarter, 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 Stock Down 0.4%

Shares of NASDAQ:AEP opened at $101.20 on Thursday. The company has a quick ratio of 0.31, a current ratio of 0.42 and a debt-to-equity ratio of 1.42. American Electric Power Company, Inc. has a 52-week low of $85.93 and a 52-week high of $110.48. The stock's fifty day simple moving average is $104.15 and its 200-day simple moving average is $101.15. The company has a market capitalization of $54.06 billion, a P/E ratio of 19.50, a P/E/G ratio of 2.70 and a beta of 0.42.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.14. The business had revenue of $5.46 billion for the quarter, compared to the consensus estimate of $5.33 billion. American Electric Power had a return on equity of 11.68% and a net margin of 13.73%. The business's revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.27 earnings per share. As a group, equities research analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The business 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. The ex-dividend date was Friday, May 9th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.68%. American Electric Power's dividend payout ratio (DPR) is currently 71.68%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AEP shares. Guggenheim increased their target price 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 increased their target price on American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Barclays increased their target price on American Electric Power from $95.00 to $106.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 22nd. 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 report on Friday, June 6th. Finally, Wells Fargo & Company increased their target price on American Electric Power from $107.00 to $114.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. One equities research 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. Based on data from MarketBeat.com, American Electric Power presently has an average rating of "Hold" and an average target price of $108.31.

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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