American Electric Power Company, Inc. (NASDAQ:AEP) Shares Bought by Scotia Capital Inc.

Key Points

• Scotia Capital Inc. increased its ownership in American Electric Power Company (AEP) by 25.4%, now holding 253,835 shares valued at approximately $27.7 million.
• American Electric Power recently announced a quarterly dividend of $0.93, with a payout ratio of 54.39% and an annualized yield of 3.3%.
• Institutional investors collectively own 75.24% of AEP's stock, and multiple funds have initiated new positions in the company recently.

Scotia Capital Inc. boosted its holdings in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 25.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 253,835 shares of the company's stock after buying an additional 51,476 shares during the quarter. Scotia Capital Inc.'s holdings in American Electric Power were worth $27,737,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. EQ Wealth Advisors LLC acquired a new position in American Electric Power in the first quarter worth $25,000. Fourth Dimension Wealth LLC acquired a new stake in American Electric Power during the 4th quarter worth $28,000. Bank of New Hampshire bought a new stake in American Electric Power in the 1st quarter valued at $28,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in American Electric Power during the 1st quarter worth approximately $33,000. Finally, IMA Advisory Services Inc. bought a new stake in American Electric Power during the 1st quarter worth about $35,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Trading Up 0.3%

American Electric Power stock traded up $0.40 during mid-day trading on Thursday, hitting $113.89. The company's stock had a trading volume of 591,371 shares, compared to its average volume of 3,601,844. The business has a 50 day moving average price of $105.29 and a 200-day moving average price of $104.32. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.55 and a quick ratio of 0.41. American Electric Power Company, Inc. has a 12 month low of $89.91 and a 12 month high of $115.36. The stock has a market cap of $60.91 billion, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 3.01 and a beta of 0.40.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share 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 for the quarter, compared to analysts' expectations of $4.85 billion. During the same period in the prior year, the firm earned $1.25 earnings per share. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. As a group, analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 8th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, August 8th. American Electric Power's dividend payout ratio (DPR) is 54.39%.

Insider Activity at American Electric Power

In related news, EVP Quinton S. Lies sold 10,141 shares of the company's stock in a transaction dated Monday, May 19th. The shares were 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 directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David Matthew Feinberg sold 8,058 shares of American Electric Power stock in a transaction dated Tuesday, June 17th. The shares were 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 owned 10,274 shares in the company, valued at $1,045,276.76. This trade represents a 43.96% 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 in the last three months. 0.07% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AEP shares. Mizuho set a $116.00 price target on shares of American Electric Power and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Citigroup increased their price objective on shares of 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 raised their target price on American Electric Power from $105.00 to $111.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Morgan Stanley reduced their price target on shares of American Electric Power from $114.00 to $113.00 and set an "overweight" rating for the company in a research report on Thursday, May 22nd. Finally, Guggenheim upped their target price on shares of American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $111.29.

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.