Prudential PLC Sells 5,245 Shares of American Electric Power Company, Inc. $AEP

Key Points

• Prudential PLC decreased its stake in American Electric Power by 21.7%, now holding 18,979 shares valued at over $2 million.
• Analysts maintain a consensus rating of "Hold" for American Electric Power, with target prices varying from $100 to $115 across different firms.
• American Electric Power announced a quarterly dividend of $0.93 per share, reflecting an annualized yield of 3.3% with a payout ratio of 54.39%.

Prudential PLC lessened its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 21.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,979 shares of the company's stock after selling 5,245 shares during the period. Prudential PLC's holdings in American Electric Power were worth $2,074,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of AEP. EQ Wealth Advisors LLC bought a new position in American Electric Power during the first quarter worth about $25,000. Bank of New Hampshire bought a new stake in shares of American Electric Power in the 1st quarter valued at $28,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of American Electric Power in the 1st quarter valued at $33,000. Fourth Dimension Wealth LLC bought a new stake in shares of American Electric Power in the 4th quarter valued at $28,000. Finally, IMA Advisory Services Inc. bought a new stake in shares of American Electric Power in the 1st quarter valued at $35,000. Institutional investors own 75.24% of the company's stock.

Insider Activity

In other news, EVP David Matthew Feinberg sold 8,058 shares of the business'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 transaction of $819,820.92. Following the completion of the sale, the executive vice president owned 10,274 shares in the company, valued at $1,045,276.76. The trade was a 43.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 24,173 shares of company stock worth $2,467,015 in the last three months. Insiders own 0.07% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. UBS Group upped their price objective on shares of American Electric Power from $100.00 to $110.00 and gave the company a "sell" rating in a research report on Thursday, July 31st. 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 research report on Wednesday, May 7th. Scotiabank upped their price objective on shares of American Electric Power from $102.00 to $114.00 and gave the company a "sector perform" rating in a research report on Thursday, July 31st. Barclays upped their price objective on shares of American Electric Power from $105.00 to $111.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Finally, Morgan Stanley lowered their target price on American Electric Power from $114.00 to $113.00 and set an "overweight" rating for the company in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, American Electric Power presently has an average rating of "Hold" and an average target price of $111.29.

American Electric Power Stock Performance

Shares of NASDAQ AEP traded down $1.01 during midday trading on Monday, hitting $110.98. 1,601,834 shares of the company's stock were exchanged, compared to its average volume of 3,573,740. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.33. American Electric Power Company, Inc. has a 12 month low of $89.91 and a 12 month high of $115.36. The company's 50 day moving average price is $106.71 and its 200 day moving average price is $105.08. The firm has a market capitalization of $59.35 billion, a PE ratio of 16.22, a price-to-earnings-growth ratio of 2.97 and a beta of 0.40.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.43 EPS 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 company had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the previous year, the company posted $1.25 EPS. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, analysts predict 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. Stockholders of record on Friday, August 8th will be issued a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Friday, August 8th. American Electric Power's payout ratio is currently 54.39%.

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.