Nuveen LLC Takes $568.04 Million Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Key Points

• Nuveen LLC acquired 5,198,516 shares of American Electric Power Company valued at approximately $568 million, representing a 0.97% stake in the company.
• American Electric Power has reported a robust quarterly earnings of $1.43 per share, exceeding analyst expectations, with revenues up by 11.1% year-over-year.
• The company recently announced a quarterly dividend of $0.93 per share, reflecting an annualized dividend yield of 3.3%.

Nuveen 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 Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,198,516 shares of the company's stock, valued at approximately $568,042,000. Nuveen LLC owned approximately 0.97% of American Electric Power as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Kingswood Wealth Advisors LLC increased its stake in American Electric Power by 14.8% in 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 during the last quarter. Ritholtz Wealth Management bought a new position in American Electric Power in the 1st quarter worth about $262,000. Robertson Stephens Wealth Management LLC bought a new position in American Electric Power in the 1st quarter worth about $205,000. GAMMA Investing LLC increased its stake in 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 increased 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 worth $38,848,000 after acquiring an additional 73,488 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company's stock.

Wall Street Analysts Forecast Growth

AEP has been the topic of a number of research analyst reports. BMO Capital Markets upped their target price on American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a research note on Monday, April 21st. Mizuho set a $116.00 price objective on American Electric Power and gave the company a "neutral" rating in a report on Thursday, July 31st. Wells Fargo & Company raised their price objective 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. UBS Group raised their price objective on American Electric Power from $100.00 to $110.00 and gave the company a "sell" rating in a report on Thursday, July 31st. Finally, Scotiabank raised their price objective on American Electric Power from $102.00 to $114.00 and gave the company a "sector perform" rating in a report on Thursday, July 31st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $111.29.

American Electric Power Trading Down 0.0%

AEP traded down $0.01 on Tuesday, hitting $111.99. 2,576,390 shares of the company were exchanged, compared to its average volume of 3,626,442. The firm has a fifty day simple moving average of $106.06 and a two-hundred day simple moving average of $104.78. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.41 and a current ratio of 0.55. American Electric Power Company, Inc. has a 12 month low of $89.91 and a 12 month high of $115.36. The stock has a market capitalization of $59.89 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 2.97 and a beta of 0.40.

American Electric Power (NASDAQ:AEP - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $4.85 billion. During the same quarter last year, the business posted $1.25 EPS. The business's revenue was up 11.1% on a year-over-year basis. Sell-side analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 3.3%. American Electric Power's dividend payout ratio (DPR) is 54.39%.

Insider Activity at American Electric Power

In other American Electric Power news, 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 completion of the sale, the executive vice president owned 10,274 shares in the company, valued at approximately $1,045,276.76. This trade represents a 43.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,314 shares of company stock valued at $3,508,293. Company 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.