SLT Holdings LLC Purchases Shares of 3,600 American Electric Power Company, Inc. (NASDAQ:AEP)

Key Points

• SLT Holdings LLC acquired 3,600 shares of American Electric Power Company, valued at approximately $393,000, marking a new investment in the firm.
• American Electric Power recently disclosed a quarterly dividend of $0.93, with an annualized rate of $3.72 and a dividend yield of 3.45%.
• The company's latest earnings report showed an earnings per share (EPS) of $1.54, exceeding estimates by $0.14, and a revenue increase of 8.7% year-over-year.

SLT Holdings LLC purchased a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,600 shares of the company's stock, valued at approximately $393,000.

Several other hedge funds have also modified their holdings of AEP. EQ Wealth Advisors LLC purchased a new stake in American Electric Power during the first quarter valued at approximately $25,000. Fourth Dimension Wealth LLC purchased a new stake in shares of American Electric Power during the 4th quarter valued at $28,000. Bank of New Hampshire purchased a new stake in American Electric Power in the first quarter valued at about $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in American Electric Power in the first quarter valued at about $33,000. Finally, IMA Advisory Services Inc. purchased a new stake in American Electric Power in the first quarter valued at about $35,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Price Performance

Shares of American Electric Power stock opened at $107.95 on Tuesday. The company has a quick ratio of 0.31, a current ratio of 0.42 and a debt-to-equity ratio of 1.42. American Electric Power Company, Inc. has a twelve month low of $89.91 and a twelve month high of $110.51. The business has a 50-day moving average price of $103.85 and a 200 day moving average price of $103.59. The firm has a market cap of $57.67 billion, a PE ratio of 20.80, a P/E/G ratio of 2.91 and a beta of 0.42.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.40 by $0.14. American Electric Power had a net margin of 13.73% and a return on equity of 11.68%. The company had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.33 billion. During the same quarter in the previous year, the firm earned $1.27 EPS. The firm's revenue was up 8.7% compared to the same quarter last year. Sell-side analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 8th will be issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Friday, August 8th. American Electric Power's dividend payout ratio is currently 71.68%.

Analyst Ratings Changes

Several equities analysts recently commented on AEP shares. BMO Capital Markets increased their price objective on shares of American Electric Power from $111.00 to $115.00 and gave the company an "outperform" rating in a research report on Monday, April 21st. Citigroup raised their price target on shares of American Electric Power from $102.00 to $109.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Raymond James Financial assumed coverage on American Electric Power in a research note on Friday, June 13th. They issued an "outperform" rating and a $115.00 target price for the company. Morgan Stanley reduced their target price on American Electric Power from $114.00 to $113.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. Finally, Guggenheim raised their price objective on 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 research 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 data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $108.31.

Insider Activity at American Electric Power

In other news, EVP Quinton S. Lies sold 10,141 shares of the firm's stock in a transaction that occurred on 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 transaction, the executive vice president owned 9,658 shares of the company's stock, valued at approximately $991,683.44. This trade represents a 51.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP David Matthew Feinberg sold 8,058 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total transaction of $819,820.92. Following the completion of the transaction, the executive vice president directly owned 10,274 shares of the company's stock, valued at $1,045,276.76. This represents a 43.96% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 34,314 shares of company stock valued at $3,508,293. Corporate insiders own 0.07% of the company's stock.

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.

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