Oak Thistle LLC Purchases New Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Oak Thistle LLC purchased a new position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,573 shares of the company's stock, valued at approximately $1,265,000.

Several other large investors also recently added to or reduced their stakes in the business. EQ Wealth Advisors LLC purchased a new position in shares of American Electric Power in the first quarter worth $25,000. Bank of New Hampshire bought a new position in American Electric Power during the 1st quarter worth about $28,000. Fourth Dimension Wealth LLC purchased a new stake in shares of American Electric Power during the fourth quarter valued at about $28,000. North Capital Inc. purchased a new stake in shares of American Electric Power during the first quarter valued at about $39,000. Finally, Ameriflex Group Inc. purchased a new position in shares of American Electric Power in the 4th quarter valued at approximately $41,000. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Trading Up 0.1%

NASDAQ:AEP traded up $0.08 on Thursday, reaching $108.97. The company's stock had a trading volume of 2,475,520 shares, compared to its average volume of 2,724,537. American Electric Power Company, Inc. has a 1-year low of $89.91 and a 1-year high of $110.51. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.31 and a current ratio of 0.42. The firm has a market cap of $58.21 billion, a PE ratio of 21.00, a PEG ratio of 2.89 and a beta of 0.42. The business's 50-day moving average price is $103.63 and its two-hundred day moving average price is $103.20.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, topping analysts' consensus estimates of $1.40 by $0.14. The company had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.33 billion. American Electric Power had a return on equity of 11.68% and a net margin of 13.73%. The firm's quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.27 earnings per share. 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 company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 8th will be issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.41%. The ex-dividend date is Friday, August 8th. American Electric Power's dividend payout ratio (DPR) is 71.68%.

Insider Buying and Selling at American Electric Power

In other American Electric Power news, EVP David Matthew Feinberg sold 8,058 shares of American Electric Power stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $101.74, for a total transaction of $819,820.92. Following the completion of the transaction, the executive vice president owned 10,274 shares in the company, valued at approximately $1,045,276.76. The trade was a 43.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Quinton S. Lies sold 10,141 shares of the business's stock in a transaction 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 transaction, the executive vice president directly owned 9,658 shares in the company, valued at approximately $991,683.44. This represents a 51.22% 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 worth $3,508,293. 0.07% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AEP has been the subject of several recent research reports. Barclays lifted their target price on shares of American Electric Power from $95.00 to $106.00 and gave the company an "equal weight" rating in a report on Tuesday, April 22nd. UBS Group upped their target price on shares of American Electric Power from $95.00 to $100.00 and gave the company a "sell" rating in a research report on Friday, June 6th. Wells Fargo & Company boosted their price target on shares of American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Citigroup increased their price target 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. Finally, Guggenheim increased their price objective on American Electric Power from $109.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $108.31.

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.