Penserra Capital Management LLC Raises Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Penserra Capital Management LLC grew its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 460.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,808 shares of the company's stock after acquiring an additional 6,414 shares during the quarter. Penserra Capital Management LLC's holdings in American Electric Power were worth $852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Clarius Group LLC boosted its holdings in shares of American Electric Power by 2.5% in the 1st quarter. Clarius Group LLC now owns 3,966 shares of the company's stock worth $433,000 after buying an additional 95 shares during the last quarter. Safeguard Investment Advisory Group LLC boosted its holdings in shares of American Electric Power by 4.3% in the 4th quarter. Safeguard Investment Advisory Group LLC now owns 2,414 shares of the company's stock worth $223,000 after buying an additional 100 shares during the last quarter. Marcum Wealth LLC boosted its holdings in shares of American Electric Power by 3.0% in the 1st quarter. Marcum Wealth LLC now owns 3,468 shares of the company's stock worth $379,000 after buying an additional 101 shares during the last quarter. SouthState Corp boosted its holdings in shares of American Electric Power by 1.6% in the 4th quarter. SouthState Corp now owns 6,611 shares of the company's stock worth $610,000 after buying an additional 102 shares during the last quarter. Finally, Ascent Group LLC boosted its holdings in shares of American Electric Power by 0.4% in the 4th quarter. Ascent Group LLC now owns 27,889 shares of the company's stock worth $2,572,000 after buying an additional 102 shares during the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AEP has been the topic of several recent research reports. Morgan Stanley dropped their price objective 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 upped their price objective on shares of American Electric Power from $108.00 to $114.00 and gave the company a "buy" rating in a report on Tuesday, March 18th. Raymond James Financial initiated coverage on shares of American Electric Power in a report on Friday, June 13th. They set an "outperform" rating and a $115.00 price objective on the stock. Guggenheim upped their price objective on shares of American Electric Power from $109.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Finally, Citigroup upped their price objective 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 issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $108.31.

American Electric Power Price Performance

Shares of AEP traded down $0.70 during midday trading on Friday, hitting $105.34. 2,473,878 shares of the company traded hands, compared to its average volume of 3,226,904. 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 stock has a 50-day moving average of $103.00 and a 200-day moving average of $102.25. The firm has a market cap of $56.27 billion, a P/E ratio of 20.30, a PEG ratio of 2.82 and a beta of 0.42. American Electric Power Company, Inc. has a one year low of $89.84 and a one year high of $110.48.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.14. The company had revenue of $5.46 billion for the quarter, compared to analysts' expectations of $5.33 billion. American Electric Power had a net margin of 13.73% and a return on equity of 11.68%. American Electric Power's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.27 earnings per share. As a group, sell-side analysts predict 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 disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.53%. The ex-dividend date was Friday, May 9th. American Electric Power's dividend payout ratio (DPR) is 71.68%.

Insider Activity at American Electric Power

In other American Electric Power news, EVP Quinton S. Lies sold 10,141 shares of the company's 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 $991,683.44. This represents a 51.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David Matthew Feinberg sold 8,058 shares of the company's 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 directly owned 10,274 shares of the company's stock, valued at approximately $1,045,276.76. This represents a 43.96% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,314 shares of company stock worth $3,508,293. 0.07% of the stock is owned by company insiders.

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.