TD Asset Management Inc Sells 19,854 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Key Points

• TD Asset Management Inc reduced its position in American Electric Power by 6.3%, holding approximately $32.19 million worth of shares as of its latest SEC filing.
• American Electric Power reported $1.54 EPS for the last quarter, surpassing estimates, with a revenue of $5.46 billion, indicating an 8.7% year-over-year increase.
• The company announced a quarterly dividend of $0.93 per share, leading to an annualized dividend yield of 3.45%, with a payout ratio of 71.68%.

TD Asset Management Inc cut its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 6.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 294,580 shares of the company's stock after selling 19,854 shares during the period. TD Asset Management Inc owned approximately 0.06% of American Electric Power worth $32,189,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its holdings in shares of American Electric Power by 11.5% in the fourth quarter. Brighton Jones LLC now owns 10,601 shares of the company's stock valued at $978,000 after purchasing an additional 1,095 shares in the last quarter. Loomis Sayles & Co. L P lifted its holdings in shares of American Electric Power by 83.8% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,548 shares of the company's stock valued at $143,000 after purchasing an additional 706 shares in the last quarter. Blair William & Co. IL lifted its holdings in shares of American Electric Power by 1.7% in the fourth quarter. Blair William & Co. IL now owns 39,597 shares of the company's stock valued at $3,652,000 after purchasing an additional 663 shares in the last quarter. New Age Alpha Advisors LLC lifted its holdings in shares of American Electric Power by 5,005.4% in the fourth quarter. New Age Alpha Advisors LLC now owns 20,626 shares of the company's stock valued at $1,902,000 after purchasing an additional 20,222 shares in the last quarter. Finally, Orion Portfolio Solutions LLC lifted its holdings in shares of American Electric Power by 4.7% in the fourth quarter. Orion Portfolio Solutions LLC now owns 46,973 shares of the company's stock valued at $4,332,000 after purchasing an additional 2,129 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Stock Performance

Shares of American Electric Power stock traded up $0.09 on Friday, hitting $113.23. The stock had a trading volume of 1,815,760 shares, compared to its average volume of 3,580,721. American Electric Power Company, Inc. has a twelve month low of $89.91 and a twelve month high of $114.38. The business's 50 day moving average is $104.39 and its two-hundred day moving average is $103.82. The company has a quick ratio of 0.31, a current ratio of 0.42 and a debt-to-equity ratio of 1.42. The stock has a market cap of $60.49 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 3.01 and a beta of 0.42.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.27 by $0.16. American Electric Power had a return on equity of 11.98% and a net margin of 17.68%. The company had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the prior year, the business earned $1.25 earnings per share. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. Analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Dividend Announcement

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

Insider Activity at American Electric Power

In related news, EVP Quinton S. Lies sold 10,141 shares of the business'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 directly owned 9,658 shares in the company, valued at approximately $991,683.44. The trade was a 51.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP David Matthew Feinberg sold 8,058 shares of the business'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 value of $819,820.92. Following the completion of the sale, the executive vice president owned 10,274 shares of the company's stock, valued at approximately $1,045,276.76. This trade represents a 43.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,314 shares of company stock valued at $3,508,293. 0.07% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Barclays boosted their price target on American Electric Power from $105.00 to $111.00 and gave the company an "equal weight" rating in a report on Friday. Raymond James Financial restated an "outperform" rating and issued a $122.00 price target (up from $115.00) on shares of American Electric Power in a research note on Thursday. Morgan Stanley lowered their price target on American Electric Power from $114.00 to $113.00 and set an "overweight" rating on the stock in a research report on Thursday, May 22nd. Scotiabank boosted their price target on American Electric Power from $102.00 to $114.00 and gave the stock a "sector perform" rating in a research report on Thursday. Finally, Wells Fargo & Company boosted their price target on American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target 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.