Oppenheimer & Co. Inc. Has $6.23 Million Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Oppenheimer & Co. Inc. boosted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 29.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,022 shares of the company's stock after purchasing an additional 12,858 shares during the period. Oppenheimer & Co. Inc.'s holdings in American Electric Power were worth $6,231,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in AEP. Kingswood Wealth Advisors LLC lifted its stake in shares of American Electric Power by 14.8% in the first quarter. Kingswood Wealth Advisors LLC now owns 3,331 shares of the company's stock worth $364,000 after buying an additional 430 shares during the last quarter. Ritholtz Wealth Management acquired a new position in American Electric Power during the 1st quarter worth $262,000. Robertson Stephens Wealth Management LLC acquired a new position in American Electric Power during the 1st quarter worth $205,000. Wealth Enhancement Advisory Services LLC boosted its holdings in American Electric Power by 26.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 355,516 shares of the company's stock valued at $38,848,000 after acquiring an additional 73,488 shares during the period. Finally, GQG Partners LLC grew its position in shares of American Electric Power by 3.7% in the fourth quarter. GQG Partners LLC now owns 15,060,525 shares of the company's stock valued at $1,389,032,000 after purchasing an additional 543,054 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

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 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 transaction, the executive vice president now owns 10,274 shares in the company, valued at approximately $1,045,276.76. The trade was a 43.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 now directly owns 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. Insiders have sold a total of 34,314 shares of company stock worth $3,508,293 over the last ninety days. Corporate insiders own 0.07% of the company's stock.

American Electric Power Price Performance

NASDAQ AEP traded down $1.87 during trading on Wednesday, reaching $101.41. 2,181,242 shares of the company traded hands, compared to its average volume of 3,680,771. American Electric Power Company, Inc. has a 1-year low of $85.93 and a 1-year high of $110.48. 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 stock's 50 day moving average price is $103.92 and its two-hundred day moving average price is $101.33. The company has a market cap of $54.17 billion, a price-to-earnings ratio of 19.54, a P/E/G ratio of 2.74 and a beta of 0.42.

American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.14. The firm had revenue of $5.46 billion for the quarter, compared to analysts' expectations 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 was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.27 earnings per share. As a group, analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.67%. The ex-dividend date was Friday, May 9th. American Electric Power's dividend payout ratio is currently 71.68%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Bank of America boosted their price objective 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 price target on American Electric Power from $95.00 to $100.00 and gave the stock a "sell" rating in a report on Friday, June 6th. Raymond James Financial began coverage on shares of American Electric Power in a research note on Friday, June 13th. They issued an "outperform" rating and a $115.00 price objective on the stock. BMO Capital Markets boosted their target price on shares of American Electric Power from $111.00 to $115.00 and gave the stock an "outperform" rating in a research report on Monday, April 21st. Finally, 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 report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, American Electric Power currently has a consensus 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.