American Electric Power Company, Inc. (NASDAQ:AEP) Shares Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC lifted its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 9.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,867 shares of the company’s stock after acquiring an additional 2,972 shares during the period. Park Avenue Securities LLC’s holdings in American Electric Power were worth $3,591,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ acquired a new position in American Electric Power during the fourth quarter worth about $25,000. Fourth Dimension Wealth LLC acquired a new position in shares of American Electric Power in the 4th quarter worth approximately $28,000. Bank of New Hampshire acquired a new position in shares of American Electric Power in the 1st quarter worth approximately $28,000. Fairway Wealth LLC acquired a new position in shares of American Electric Power in the 4th quarter worth approximately $32,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of American Electric Power in the 4th quarter worth approximately $35,000. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Stock Down 0.4%

Shares of American Electric Power stock opened at $101.41 on Tuesday. American Electric Power Company, Inc. has a 1 year low of $85.93 and a 1 year high of $110.48. The company has a market cap of $54.17 billion, a P/E ratio of 18.11, a P/E/G ratio of 2.97 and a beta of 0.42. 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 stock has a 50-day moving average price of $104.31 and a 200 day moving average price of $101.05.

American Electric Power (NASDAQ:AEP) 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. The company had revenue of $5.46 billion for the quarter, compared to the consensus estimate of $5.33 billion. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.27 EPS. As a group, analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Friday, May 9th. American Electric Power’s dividend payout ratio (DPR) is presently 71.68%.

Analyst Ratings Changes

AEP has been the subject of a number of research reports. 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. Morgan Stanley reduced their price objective on American Electric Power from $114.00 to $113.00 and set an “overweight” rating for the company in a research note on Thursday, May 22nd. Guggenheim lifted their target price on American Electric Power from $109.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. UBS Group boosted their target price on American Electric Power from $95.00 to $100.00 and gave the stock a “sell” rating in a research report on Friday. Finally, Bank of America increased their price target on American Electric Power from $108.00 to $114.00 and gave the company a “buy” rating in a research report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $107.75.

Insider Transactions at American Electric Power

In other news, EVP David Matthew Feinberg sold 8,057 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $102.94, for a total transaction of $829,387.58. Following the transaction, the executive vice president now owns 26,298 shares in the company, valued at $2,707,116.12. This represents a 23.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Quinton S. Lies sold 10,141 shares of the company’s 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 sale, the executive vice president now owns 9,658 shares of the company’s stock, valued at $991,683.44. This represents a 51.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.07% of the stock is currently owned by company insiders.

American Electric Power 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.