Oppenheimer Asset Management Inc. Buys 6,736 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Oppenheimer Asset Management Inc. boosted its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 20.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,479 shares of the company's stock after acquiring an additional 6,736 shares during the period. Oppenheimer Asset Management Inc.'s holdings in American Electric Power were worth $4,423,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AEP. Skandinaviska Enskilda Banken AB publ acquired a new position in American Electric Power in the fourth quarter valued at approximately $25,000. EQ Wealth Advisors LLC acquired a new position in American Electric Power in the first quarter valued at approximately $25,000. Fourth Dimension Wealth LLC acquired a new position in American Electric Power in the fourth quarter valued at approximately $28,000. Bank of New Hampshire acquired a new position in American Electric Power in the first quarter valued at approximately $28,000. Finally, Fairway Wealth LLC acquired a new position in shares of American Electric Power during the fourth quarter worth approximately $32,000. 75.24% of the stock is currently owned by institutional investors.

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 dated 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 now owns 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP David Matthew Feinberg sold 8,057 shares of American Electric Power stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $102.94, for a total value of $829,387.58. Following the completion of the sale, the executive vice president now directly owns 26,298 shares of the company's stock, valued at approximately $2,707,116.12. This trade represents a 23.45% 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 quarter. 0.07% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AEP. Bank of America upped their target price on American Electric Power from $108.00 to $114.00 and gave the stock a "buy" rating in a research report on Tuesday, March 18th. UBS Group upped their target price on American Electric Power from $95.00 to $100.00 and gave the stock a "sell" rating in a research report on Friday, June 6th. Citigroup upped their target price on American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Barclays upped their target price on American Electric Power from $95.00 to $106.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company increased their price target 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 given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $108.31.

American Electric Power Stock Down 0.0%

Shares of NASDAQ:AEP opened at $103.28 on Wednesday. The company has a market capitalization of $55.17 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 2.74 and a beta of 0.42. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.42 and a quick ratio of 0.31. The business has a fifty day moving average price of $103.92 and a two-hundred day moving average price of $101.33. American Electric Power Company, Inc. has a 1 year low of $85.93 and a 1 year high of $110.48.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $5.46 billion during 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 for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.27 EPS. Analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a $0.93 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $3.72 dividend on an annualized basis and a yield of 3.60%. American Electric Power's dividend payout ratio (DPR) is presently 71.68%.

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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