W.H. Cornerstone Investments Inc. Boosts Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Key Points

• W.H. Cornerstone Investments Inc. boosted its stake in American Electric Power Company by 48.1%, owning a total of 9,476 shares valued at approximately $1,035,000.
• American Electric Power reported $1.43 earnings per share for the latest quarter, exceeding analysts' expectations and marking an 11.1% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.93, resulting in an annualized dividend yield of 3.3%, with a current payout ratio of 54.39%.

W.H. Cornerstone Investments Inc. increased its position in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 48.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 9,476 shares of the company's stock after buying an additional 3,078 shares during the period. W.H. Cornerstone Investments Inc.'s holdings in American Electric Power were worth $1,035,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. EQ Wealth Advisors LLC bought a new position in shares of American Electric Power in the 1st quarter valued at about $25,000. Fourth Dimension Wealth LLC bought a new position in shares of American Electric Power in the 4th quarter valued at about $28,000. Bank of New Hampshire bought a new position in shares of American Electric Power in the 1st quarter valued at about $28,000. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of American Electric Power in the 1st quarter valued at about $33,000. Finally, IMA Advisory Services Inc. bought a new position in shares of American Electric Power in the 1st quarter valued at about $35,000. Institutional investors own 75.24% of the company's stock.

American Electric Power Stock Performance

American Electric Power stock opened at $113.58 on Monday. The firm has a 50 day simple moving average of $104.61 and a 200-day simple moving average of $104.07. American Electric Power Company, Inc. has a 1-year low of $89.91 and a 1-year high of $114.38. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.55 and a quick ratio of 0.41. The stock has a market cap of $60.74 billion, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 3.02 and a beta of 0.40.

American Electric Power (NASDAQ:AEP - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.16. American Electric Power had a net margin of 17.68% and a return on equity of 11.55%. The business had revenue of $5.09 billion during the quarter, compared to analysts' expectations of $4.85 billion. During the same quarter in the prior year, the company posted $1.25 EPS. The business's revenue for the quarter was up 11.1% on a year-over-year basis. On average, analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th will be issued 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 dividend payout ratio is currently 54.39%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AEP. BMO Capital Markets increased their price target 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. Guggenheim increased their price target on shares of American Electric Power from $109.00 to $115.00 and gave the company a "buy" 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 report on Wednesday, May 7th. Wells Fargo & Company increased their price target on shares of American Electric Power from $107.00 to $114.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. Finally, Barclays increased their price target on shares of American Electric Power from $105.00 to $111.00 and gave the company an "equal weight" rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $111.29.

Insider Activity at American Electric Power

In other American Electric Power news, EVP Quinton S. Lies sold 10,141 shares of the stock in a transaction that occurred 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 sale, the executive vice president directly owned 9,658 shares in the company, valued at $991,683.44. This represents a 51.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David Matthew Feinberg sold 8,058 shares of the firm's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total transaction of $819,820.92. Following the completion of the sale, the executive vice president owned 10,274 shares in the company, valued at $1,045,276.76. The trade was a 43.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,314 shares of company stock worth $3,508,293. Company insiders own 0.07% of the company's stock.

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.

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