Commerce Bank raised its holdings in American Electric Power Company Inc (NYSE:AEP) by 4.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,991 shares of the utilities provider’s stock after purchasing an additional 2,196 shares during the period. Commerce Bank’s holdings in American Electric Power were worth $3,758,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of AEP. RFG Advisory LLC grew its stake in American Electric Power by 8.8% during the fourth quarter. RFG Advisory LLC now owns 3,461 shares of the utilities provider’s stock valued at $327,000 after acquiring an additional 280 shares in the last quarter. J.W. Cole Advisors Inc. bought a new stake in American Electric Power during the 4th quarter valued at $1,449,000. Nicolet Advisory Services LLC bought a new stake in American Electric Power during the 4th quarter valued at $205,000. Accredited Investors Inc. raised its holdings in American Electric Power by 5.3% during the 4th quarter. Accredited Investors Inc. now owns 2,731 shares of the utilities provider’s stock valued at $258,000 after buying an additional 138 shares during the last quarter. Finally, Advisor Partners LLC raised its holdings in American Electric Power by 14.1% during the 4th quarter. Advisor Partners LLC now owns 19,135 shares of the utilities provider’s stock valued at $1,848,000 after buying an additional 2,366 shares during the last quarter. 73.67% of the stock is owned by institutional investors.
In other news, CEO Nicholas K. Akins sold 69,657 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $101.05, for a total transaction of $7,038,839.85. Following the sale, the chief executive officer now owns 170,522 shares in the company, valued at $17,231,248.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian X. Tierney sold 18,573 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $101.55, for a total value of $1,886,088.15. Following the sale, the chief financial officer now owns 45,162 shares in the company, valued at approximately $4,586,201.10. The disclosure for this sale can be found here. Insiders sold 127,067 shares of company stock worth $12,434,814 in the last quarter. 0.16% of the stock is owned by insiders.
A number of equities research analysts recently commented on AEP shares. UBS Group lowered their price target on shares of American Electric Power from $100.00 to $90.00 and set a “buy” rating for the company in a report on Friday, May 8th. SunTrust Banks boosted their price objective on shares of American Electric Power from $109.00 to $111.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Mizuho reissued a “hold” rating and set a $76.00 price objective on shares of American Electric Power in a research report on Tuesday, April 7th. BMO Capital Markets assumed coverage on shares of American Electric Power in a research report on Wednesday, February 19th. They set an “outperform” rating and a $111.00 price objective on the stock. Finally, Wells Fargo & Co reissued an “outperform” rating on shares of American Electric Power in a research report on Monday, February 24th. Two analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $95.17.
Shares of AEP opened at $78.78 on Friday. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.45 and a quick ratio of 0.35. American Electric Power Company Inc has a 1 year low of $65.14 and a 1 year high of $104.97. The company has a 50 day simple moving average of $81.08 and a two-hundred day simple moving average of $90.53. The firm has a market cap of $38.34 billion, a P/E ratio of 21.12, a price-to-earnings-growth ratio of 3.19 and a beta of 0.38.
American Electric Power (NYSE:AEP) last issued its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.07). American Electric Power had a return on equity of 10.15% and a net margin of 12.08%. The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $4.26 billion. During the same quarter in the prior year, the business earned $1.19 earnings per share. The firm’s quarterly revenue was down 9.8% compared to the same quarter last year. On average, sell-side analysts anticipate that American Electric Power Company Inc will post 4.26 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, May 7th. This represents a $2.80 annualized dividend and a yield of 3.55%. American Electric Power’s dividend payout ratio (DPR) is presently 66.04%.
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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.
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