Royal Bank of Canada Buys 85,756 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Royal Bank of Canada increased its stake in American Electric Power Company, Inc. (NASDAQ:AEP - Free Report) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,047,428 shares of the company's stock after purchasing an additional 85,756 shares during the period. Royal Bank of Canada owned approximately 1.32% of American Electric Power worth $649,983,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AEP. Skandinaviska Enskilda Banken AB publ acquired a new stake in American Electric Power in the 4th quarter valued at about $25,000. Fairway Wealth LLC bought a new position in American Electric Power in the 4th quarter valued at about $32,000. Newbridge Financial Services Group Inc. bought a new position in American Electric Power in the 4th quarter valued at about $35,000. Kestra Investment Management LLC bought a new position in American Electric Power in the 4th quarter valued at about $35,000. Finally, Lee Danner & Bass Inc. bought a new position in American Electric Power in the 4th quarter valued at about $38,000. 75.24% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at American Electric Power

In related news, EVP Quinton S. Lies sold 10,141 shares of American Electric Power 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 transaction, the executive vice president now owns 9,658 shares of the company's stock, valued at $991,683.44. This trade represents a 51.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is owned by company insiders.

American Electric Power Price Performance

American Electric Power stock traded down $0.05 during mid-day trading on Tuesday, reaching $103.73. The company had a trading volume of 2,408,208 shares, compared to its average volume of 3,202,991. American Electric Power Company, Inc. has a fifty-two week low of $85.93 and a fifty-two week high of $110.48. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46. The company has a market cap of $55.41 billion, a P/E ratio of 18.52, a P/E/G ratio of 2.97 and a beta of 0.45. The business has a fifty day simple moving average of $105.30 and a 200 day simple moving average of $100.39.

American Electric Power (NASDAQ:AEP - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $5.33 billion. During the same quarter last year, the business posted $1.27 earnings per share. The company's quarterly revenue was up 8.7% on a year-over-year basis. On average, equities research analysts predict 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 will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be issued a dividend of $0.93 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.59%. American Electric Power's dividend payout ratio (DPR) is presently 71.68%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Bank of America increased their price target on shares of American Electric Power from $108.00 to $114.00 and gave the company a "buy" rating in a report on Tuesday, March 18th. Morgan Stanley set a $114.00 price target on shares of American Electric Power and gave the company an "overweight" rating in a report on Wednesday, April 23rd. 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. Wells Fargo & Company raised their target price on shares of American Electric Power from $107.00 to $114.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. Finally, Barclays increased 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 research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $105.77.

About American Electric Power

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.