Wealth Enhancement Advisory Services LLC Raises Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Wealth Enhancement Advisory Services LLC increased its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 26.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 355,516 shares of the company's stock after acquiring an additional 73,488 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.07% of American Electric Power worth $38,848,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AEP. Skandinaviska Enskilda Banken AB publ bought a new position in shares of American Electric Power in the fourth quarter valued at approximately $25,000. Fourth Dimension Wealth LLC bought a new position in shares of American Electric Power in the fourth quarter valued at approximately $28,000. Bank of New Hampshire bought a new position in shares of American Electric Power in the first quarter valued at approximately $28,000. Fairway Wealth LLC bought a new position in shares of American Electric Power in the fourth quarter valued at approximately $32,000. Finally, Kestra Investment Management LLC bought a new stake in American Electric Power during the fourth quarter valued at approximately $35,000. 75.24% of the stock is currently owned by institutional investors.

American Electric Power Price Performance

Shares of AEP stock traded up $0.55 during trading hours on Friday, hitting $101.75. 4,083,531 shares of the company's stock were exchanged, compared to its average volume of 3,201,131. The company has a market capitalization of $54.35 billion, a PE ratio of 19.61, a PEG ratio of 2.70 and a beta of 0.42. American Electric Power Company, Inc. has a 12-month low of $85.93 and a 12-month high of $110.48. The business's 50 day simple moving average is $104.05 and its 200-day simple moving average is $101.24. 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 (NASDAQ:AEP - Get Free Report) last posted 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 firm had revenue of $5.46 billion for the quarter, compared to the consensus estimate of $5.33 billion. During the same period last year, the firm posted $1.27 earnings per share. The business's revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Friday, May 9th. American Electric Power's payout ratio is 71.68%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AEP. Citigroup lifted their target price 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. Guggenheim lifted their target price on shares of American Electric Power from $109.00 to $115.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Morgan Stanley dropped their target price on shares of American Electric Power from $114.00 to $113.00 and set an "overweight" rating for the company in a research report on Thursday, May 22nd. Wells Fargo & Company lifted 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. Finally, UBS Group lifted 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $108.31.

Insider Buying and Selling

In related news, EVP David Matthew Feinberg sold 8,058 shares of American Electric Power stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $101.49, for a total value of $817,806.42. Following the transaction, the executive vice president now directly owns 18,332 shares of the company's stock, valued at $1,860,514.68. The trade was a 30.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Quinton S. Lies sold 10,141 shares of American Electric Power stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 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 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 over the last three months. 0.07% of the stock is owned by company insiders.

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.