HB Wealth Management LLC Purchases 10,758 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Key Points

• HB Wealth Management LLC increased its stake in American Electric Power Company, Inc. by 30% during the 1st quarter, acquiring an additional 10,758 shares to hold a total of 46,658 shares valued at approximately $5.1 million.
• American Electric Power reported a quarterly earnings per share (EPS) of $1.54, surpassing the consensus estimate of $1.40, and achieved an 8.7% year-over-year revenue growth to $5.46 billion.
• The company declared a quarterly dividend of $0.93 per share, with a dividend yield of 3.39% and a payout ratio of 71.68%, set to be paid on September 10th.

HB Wealth Management LLC boosted its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 30.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,658 shares of the company's stock after acquiring an additional 10,758 shares during the period. HB Wealth Management LLC's holdings in American Electric Power were worth $5,098,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Kingswood Wealth Advisors LLC boosted its stake 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 worth $364,000 after acquiring an additional 430 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in shares of American Electric Power during the 1st quarter worth approximately $262,000. Robertson Stephens Wealth Management LLC purchased a new stake in shares of American Electric Power during the 1st quarter worth approximately $205,000. GAMMA Investing LLC boosted its stake in shares of American Electric Power by 24.5% during 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 in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted 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 valued at $38,848,000 after buying an additional 73,488 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Morgan Stanley reduced their price target on American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a research note on Thursday, May 22nd. Citigroup increased their price target on American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Raymond James Financial began coverage on American Electric Power in a report on Friday, June 13th. They set an "outperform" rating and a $115.00 price objective for the company. UBS Group upped their price objective on American Electric Power from $95.00 to $100.00 and gave the stock a "sell" rating in a report on Friday, June 6th. Finally, Wells Fargo & Company upped their price objective on American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $108.31.

Insider Activity at American Electric Power

In related news, EVP David Matthew Feinberg sold 8,058 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total transaction of $819,820.92. Following the transaction, the executive vice president owned 10,274 shares in the company, valued at $1,045,276.76. This trade represents a 43.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Quinton S. Lies sold 10,141 shares of the firm's 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 completion of the transaction, the executive vice president directly owned 9,658 shares of the company's stock, valued at $991,683.44. This represents a 51.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,314 shares of company stock worth $3,508,293 in the last 90 days. 0.07% of the stock is owned by company insiders.

American Electric Power Stock Up 3.9%

Shares of American Electric Power stock traded up $4.23 during trading hours on Wednesday, hitting $113.45. 3,984,043 shares of the company's stock traded hands, compared to its average volume of 3,550,543. The stock has a 50 day simple moving average of $103.96 and a 200-day simple moving average of $103.63. The company has a quick ratio of 0.31, a current ratio of 0.42 and a debt-to-equity ratio of 1.42. The company has a market cap of $60.60 billion, a PE ratio of 21.86, a PEG ratio of 2.87 and a beta of 0.42. American Electric Power Company, Inc. has a twelve month low of $89.91 and a twelve month high of $113.66.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.27 by $0.16. American Electric Power had a net margin of 13.73% and a return on equity of 11.68%. The business had revenue of $5.09 billion for the quarter, compared to analysts' expectations of $4.85 billion. During the same quarter last year, the company posted $1.25 earnings per share. The company's quarterly revenue was up 11.1% compared to the same quarter last year. Equities research analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, August 8th. This represents a $3.72 dividend on an annualized basis and a yield of 3.28%. American Electric Power's dividend payout ratio is currently 71.68%.

About American Electric Power

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.