Financial Advocates Investment Management increased its position in American Electric Power Company, Inc. (NASDAQ:AEP – Get Rating ) by 2.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,328 shares of the company’s stock after acquiring an additional 114 shares during the quarter. Financial Advocates Investment Management’s holdings in American Electric Power were worth $432,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of AEP. American Research & Management Co. grew its position in American Electric Power by 100.0% during the first quarter. American Research & Management Co. now owns 250 shares of the company’s stock valued at $25,000 after acquiring an additional 125 shares in the last quarter. Center for Financial Planning Inc. grew its position in American Electric Power by 1,288.9% during the first quarter. Center for Financial Planning Inc. now owns 250 shares of the company’s stock valued at $25,000 after acquiring an additional 232 shares during the last quarter. Industrial Alliance Investment Management Inc. acquired a new position in American Electric Power during the fourth quarter valued at about $26,000. US Asset Management LLC acquired a new position in American Electric Power during the first quarter valued at about $28,000. Finally, Tcwp LLC acquired a new position in American Electric Power during the first quarter valued at about $32,000. 73.26% of the shares are owned by institutional investors and hedge funds.
Wall Street analysts weigh in
Several equities analysts have weighed in on the company. Credit Suisse Group lifted their target price on American Electric Power from $103.00 to $105.00 and gave the company an “outperform” rating in a research report on Thursday, July 28th. Morgan Stanley reduced their price objective on American Electric Power from $113.00 to $101.00 and set an “overweight” rating for the company in a research report on Thursday, June 23rd. Citigroup boosted their price objective on American Electric Power from $94.00 to $99.00 in a research report on Thursday, July 28th. Finally, Evercore ISI boosted their price objective on American Electric Power to $107.00 in a research report on Monday, August 15th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. American Electric Power has a consensus rating of “Moderate Buy” and an average target price of $103.29, according to MarketBeat.com .
American electricity price performance
Shares of NASDAQ AEP stock opened at $104.94 on Monday. The company has a current ratio of 0.75, a quick ratio of 0.66, and a debt-to-equity ratio of 1.36. American Electric Power Company, Inc. it has a twelve month low of $80.22 and a twelve month high of $105.48. The stock has a 50 day moving average of $96.23 and a two hundred day moving average of $96.93. The stock has a market cap of $53.91 billion, a P/E ratio of 20.62, a P/E/G ratio of 3.39 and a beta of 0.35.
American Electric Power (NASDAQ:AEP – Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.01. American Electric Power had a return on equity of 10.46% and a net margin of 14.39%. The company had revenue of $4.6 billion in the quarter, compared to analysts’ expectations of $3.98 billion. During the same quarter last year, the company posted earnings per share of $1.18. The company’s revenue for the quarter was up 21.1% year-over-year. On average, research analysts anticipate that American Electric Power Company, Inc. will post 5 earnings per share in the current year.
American Electric Power Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Wednesday, August 10th will be paid a dividend of $0.78 per share. This represents an annualized dividend of $3.12 and a dividend yield of 2.97%. The ex-dividend date is Tuesday, August 9. American Electric Power’s dividend payout ratio (DPR) is currently 61.30%.
Insider trading at American Electric Power
In other news, EVP Therace Risch sold 5,330 shares of the company’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $102.35, for a total transaction of $545,525.50. Following the completion of the sale, the executive vice president now owns 8,248 shares in the company, valued at $844,182.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC’s website. Company experts own 0.12% of the company’s stock.
American Electric Power Profile
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American Electric Power Company, Inc, an electric utility holding company, is engaged in the generation, transmission and distribution of electricity for sale to retail and wholesale customers in the United States. It operates through the vertically integrated utilities, transmission and distribution services, AEP Transmission Holdco and generation and marketing segments.
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