Spirepoint Private Client LLC acquired a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,276 shares of the company's stock, valued at approximately $467,000.
Several other large investors also recently made changes to their positions in AEP. Kingswood Wealth Advisors LLC grew its stake in shares of American Electric Power by 14.8% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,331 shares of the company's stock worth $364,000 after acquiring an additional 430 shares in the last quarter. Ritholtz Wealth Management acquired a new position in American Electric Power during the first quarter worth $262,000. Robertson Stephens Wealth Management LLC bought a new position in American Electric Power in the first quarter valued at $205,000. Wealth Enhancement Advisory Services LLC increased its stake in American Electric Power by 26.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 355,516 shares of the company's stock valued at $38,848,000 after buying an additional 73,488 shares during the last quarter. Finally, GQG Partners LLC increased its stake in American Electric Power by 3.7% in the 4th quarter. GQG Partners LLC now owns 15,060,525 shares of the company's stock valued at $1,389,032,000 after buying an additional 543,054 shares during the last quarter. Institutional investors own 75.24% of the company's stock.
Analysts Set New Price Targets
AEP has been the topic of several recent analyst reports. Guggenheim boosted their price target on American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Wells Fargo & Company boosted their target price on shares of American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. 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 research note on Wednesday, May 7th. Raymond James Financial started coverage on shares of American Electric Power in a research note on Friday, June 13th. They set an "outperform" rating and a $115.00 price objective on the stock. Finally, BMO Capital Markets upped their target price on shares of American Electric Power from $111.00 to $115.00 and gave the company an "outperform" rating in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $108.31.
Read Our Latest Research Report on AEP
American Electric Power Stock Performance
Shares of AEP stock traded down $1.87 during midday trading on Wednesday, hitting $101.41. 2,181,422 shares of the company were exchanged, compared to its average volume of 3,191,734. American Electric Power Company, Inc. has a 52 week low of $85.93 and a 52 week high of $110.48. The firm has a market capitalization of $54.17 billion, a P/E ratio of 19.54, a PEG ratio of 2.74 and a beta of 0.42. The firm's 50 day moving average price is $103.92 and its two-hundred day moving average price is $101.33. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.31 and a current ratio of 0.42.
American Electric Power (NASDAQ:AEP - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 earnings per share (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 firm had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.33 billion. During the same period last year, the business posted $1.27 earnings per share. The business's revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, equities research analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.
American Electric Power Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend was Friday, May 9th. American Electric Power's dividend payout ratio is 71.68%.
Insider Buying and Selling at American Electric Power
In other American Electric Power news, EVP David Matthew Feinberg sold 8,057 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $102.94, for a total value of $829,387.58. Following the completion of the sale, the executive vice president now owns 26,298 shares of the company's stock, valued at $2,707,116.12. The trade was a 23.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Quinton S. Lies sold 10,141 shares of the firm'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 transaction of $1,041,277.88. Following the transaction, the executive vice president now directly owns 9,658 shares in the company, valued at $991,683.44. This represents a 51.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,314 shares of company stock valued at $3,508,293 in the last ninety days. 0.07% of the stock is currently owned by corporate insiders.
American Electric Power Profile
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Free Report)
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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