Union Bancaire Privee UBP SA bought a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,220 shares of the company's stock, valued at approximately $1,117,000.
A number of other hedge funds also recently modified their holdings of AEP. Brighton Jones LLC raised its stake in American Electric Power by 11.5% in the 4th quarter. Brighton Jones LLC now owns 10,601 shares of the company's stock worth $978,000 after purchasing an additional 1,095 shares in the last quarter. Empowered Funds LLC raised its stake in American Electric Power by 0.5% in the 4th quarter. Empowered Funds LLC now owns 41,165 shares of the company's stock worth $3,797,000 after purchasing an additional 205 shares in the last quarter. Focus Financial Network Inc. raised its stake in American Electric Power by 6.5% in the 4th quarter. Focus Financial Network Inc. now owns 4,842 shares of the company's stock worth $447,000 after purchasing an additional 295 shares in the last quarter. Essex Financial Services Inc. raised its stake in American Electric Power by 3.1% in the 4th quarter. Essex Financial Services Inc. now owns 6,305 shares of the company's stock worth $582,000 after purchasing an additional 192 shares in the last quarter. Finally, Stonebridge Financial Group LLC acquired a new stake in American Electric Power in the 4th quarter worth about $96,000. Institutional investors and hedge funds own 75.24% of the company's stock.
Insider Buying and Selling at American Electric Power
In other news, EVP Quinton S. Lies sold 10,141 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $102.68, for a total transaction of $1,041,277.88. Following the completion of the sale, 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP David Matthew Feinberg sold 8,057 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $102.94, for a total transaction of $829,387.58. Following the sale, the executive vice president now owns 26,298 shares of the company's stock, valued at approximately $2,707,116.12. This trade represents a 23.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,256 shares of company stock worth $2,688,472. 0.07% of the stock is currently owned by company insiders.
American Electric Power Price Performance
Shares of American Electric Power stock traded down $0.12 during midday trading on Friday, hitting $102.90. 2,388,673 shares of the company traded hands, compared to its average volume of 3,207,021. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44. American Electric Power Company, Inc. has a 12 month low of $85.93 and a 12 month high of $110.48. The firm's fifty day moving average price is $104.17 and its 200-day moving average price is $101.13. The stock has a market cap of $54.97 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 2.97 and a beta of 0.42.
American Electric Power (NASDAQ:AEP - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.14. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. The firm had revenue of $5.46 billion during the quarter, compared to analysts' expectations of $5.33 billion. During the same period in the prior year, the company posted $1.27 EPS. The company's revenue was up 8.7% on a year-over-year basis. As a group, sell-side analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.
American Electric Power Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were given a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend was Friday, May 9th. American Electric Power's dividend payout ratio (DPR) is currently 71.68%.
Analyst Upgrades and Downgrades
AEP has been the subject of several analyst reports. Barclays boosted their target price on shares of American Electric Power from $95.00 to $106.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 22nd. Bank of America boosted their target price on shares of American Electric Power from $108.00 to $114.00 and gave the company a "buy" rating in a research report on Tuesday, March 18th. UBS Group boosted their target price on shares of American Electric Power from $95.00 to $100.00 and gave the company a "sell" rating in a research report on Friday, June 6th. BMO Capital Markets boosted their target price 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. Finally, Wells Fargo & Company boosted their target price on shares of American Electric Power from $107.00 to $114.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. One equities 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 stock currently has an average rating of "Hold" and a consensus price target of $108.31.
View Our Latest Research Report on AEP
American Electric Power Profile
(
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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