8,989 Shares in American Electric Power Company, Inc. (NASDAQ:AEP) Bought by Marion Wealth Management

Marion Wealth Management purchased a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 8,989 shares of the company's stock, valued at approximately $982,000.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of American Electric Power by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 51,690,606 shares of the company's stock worth $4,767,425,000 after purchasing an additional 763,813 shares during the last quarter. GQG Partners LLC lifted its holdings in American Electric Power by 3.7% in the fourth quarter. GQG Partners LLC now owns 15,060,525 shares of the company's stock worth $1,389,032,000 after acquiring an additional 543,054 shares during the last quarter. Geode Capital Management LLC lifted its holdings in 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 worth $1,178,174,000 after acquiring an additional 283,311 shares during the last quarter. Invesco Ltd. lifted its holdings in American Electric Power by 9.1% in the fourth quarter. Invesco Ltd. now owns 8,603,600 shares of the company's stock worth $793,510,000 after acquiring an additional 716,229 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings 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 acquiring an additional 85,756 shares during the last quarter. Institutional investors own 75.24% of the company's stock.

American Electric Power Trading Down 0.3%

American Electric Power stock traded down $0.31 during midday trading on Monday, reaching $103.18. The stock had a trading volume of 2,318,068 shares, compared to its average volume of 3,200,145. The firm's fifty day simple moving average is $104.88 and its two-hundred day simple moving average is $100.83. American Electric Power Company, Inc. has a twelve month low of $85.93 and a twelve month high of $110.48. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.44 and a quick ratio of 0.31. The firm has a market cap of $55.12 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 2.97 and a beta of 0.45.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.40 by $0.14. The company had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.33 billion. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. The company's revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $1.27 EPS. Equities analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th 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 3.61%. The ex-dividend date is Friday, May 9th. American Electric Power's dividend payout ratio (DPR) is currently 71.68%.

Insider Buying and Selling at American Electric Power

In related news, EVP Quinton S. Lies sold 10,141 shares of American Electric Power stock in a transaction on 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 sale, the executive vice president now owns 9,658 shares of the company's stock, valued at approximately $991,683.44. The trade was a 51.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.07% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Morgan Stanley cut their target price on shares of American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a report on Thursday, May 22nd. Bank of America raised their price target on shares of American Electric Power from $108.00 to $114.00 and gave the company a "buy" rating in a research note on Tuesday, March 18th. Guggenheim raised their price objective on shares of American Electric Power from $109.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. BMO Capital Markets raised their price objective on shares of American Electric Power from $111.00 to $115.00 and gave the company an "outperform" rating in a research note on Monday, April 21st. Finally, Citigroup raised their price objective on shares of American Electric Power from $102.00 to $109.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $105.69.

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.