University of Texas Texas AM Investment Management Co. Buys 8,175 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Key Points

• The University of Texas Texas A&M Investment Management Co. increased its stake in American Electric Power by 14.4%, acquiring an additional 8,175 shares and bringing its total holdings to 65,028 shares, valued at over $7 million.
• American Electric Power's quarterly earnings exceeded expectations, reporting $1.54 earnings per share against an estimated $1.40, with revenues of $5.46 billion, up 8.7% year-over-year.
• The company declared a quarterly dividend of $0.93 per share, representing an annualized yield of 3.39%, with the dividend payout ratio currently at 71.68%.

University of Texas Texas AM Investment Management Co. grew its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 14.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,028 shares of the company's stock after buying an additional 8,175 shares during the period. American Electric Power accounts for approximately 1.2% of University of Texas Texas AM Investment Management Co.'s portfolio, making the stock its 12th largest holding. University of Texas Texas AM Investment Management Co.'s holdings in American Electric Power were worth $7,106,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AEP. EQ Wealth Advisors LLC bought a new position in shares of American Electric Power in the first quarter worth approximately $25,000. Fourth Dimension Wealth LLC bought a new position in shares of American Electric Power in the 4th quarter worth $28,000. Bank of New Hampshire bought a new position in American Electric Power in the first quarter valued at $28,000. IMA Advisory Services Inc. bought a new position in American Electric Power in the first quarter valued at $35,000. Finally, Park Square Financial Group LLC bought a new position in American Electric Power in the fourth quarter valued at $39,000. Institutional investors own 75.24% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. 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 report on Wednesday, May 7th. Wells Fargo & Company boosted their price objective on 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. Raymond James Financial reaffirmed an "outperform" rating and issued a $122.00 target price (up from $115.00) on shares of American Electric Power in a research note on Thursday. Guggenheim raised their price target on shares of American Electric Power from $109.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Finally, Barclays raised their price target on shares of American Electric Power from $95.00 to $106.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $110.07.

Insider Buying and Selling

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

American Electric Power Stock Performance

American Electric Power stock traded down $0.42 during trading on Thursday, reaching $112.83. The company had a trading volume of 1,963,232 shares, compared to its average volume of 3,573,766. The firm's 50-day simple moving average is $104.17 and its 200 day simple moving average is $103.69. The company has a current ratio of 0.42, a quick ratio of 0.31 and a debt-to-equity ratio of 1.42. American Electric Power Company, Inc. has a 52 week low of $89.91 and a 52 week high of $114.23. The firm has a market capitalization of $60.28 billion, a price-to-earnings ratio of 21.75, a price-to-earnings-growth ratio of 2.90 and a beta of 0.42.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.27 by $0.16. The business had revenue of $5.09 billion for the quarter, compared to analysts' expectations of $4.85 billion. American Electric Power had a return on equity of 11.68% and a net margin of 13.73%. The business's quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm earned $1.25 earnings per share. Sell-side analysts forecast 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. Shareholders of record on Friday, August 8th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Friday, August 8th. American Electric Power's payout ratio is 71.68%.

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.