Gateway Investment Advisers LLC increased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP – Get Rating) by 15.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 485,375 shares of the company’s stock after buying an additional 64,884 shares during the period. Gateway Investment Advisers LLC owned about 0.10% of American Electric Power worth $48,426,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in AEP. Summit X LLC boosted its stake in American Electric Power by 1.9% during the fourth quarter. Summit X LLC now owns 6,491 shares of the company’s stock worth $572,000 after buying an additional 120 shares in the last quarter. Ferguson Wellman Capital Management Inc. lifted its holdings in shares of American Electric Power by 1.4% during the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 9,003 shares of the company’s stock valued at $801,000 after acquiring an additional 125 shares during the period. Jeppson Wealth Management LLC lifted its holdings in shares of American Electric Power by 0.4% during the fourth quarter. Jeppson Wealth Management LLC now owns 35,503 shares of the company’s stock valued at $3,159,000 after acquiring an additional 129 shares during the period. Stratos Wealth Advisors LLC lifted its holdings in shares of American Electric Power by 1.7% during the fourth quarter. Stratos Wealth Advisors LLC now owns 7,751 shares of the company’s stock valued at $690,000 after acquiring an additional 130 shares during the period. Finally, Marcum Wealth LLC lifted its holdings in shares of American Electric Power by 4.1% during the fourth quarter. Marcum Wealth LLC now owns 3,338 shares of the company’s stock valued at $297,000 after acquiring an additional 130 shares during the period. Institutional investors own 73.26% of the company’s stock.
In related news, CFO Julia A. Sloat sold 1,803 shares of the business’s stock in a transaction that occurred on Thursday, May 5th. The stock was sold at an average price of $100.15, for a total value of $180,570.45. Following the completion of the transaction, the chief financial officer now directly owns 34,871 shares in the company, valued at approximately $3,492,330.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Charles E. Zebula sold 1,902 shares of the company’s stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $99.05, for a total value of $188,393.10. Following the transaction, the executive vice president now directly owns 18,134 shares of the company’s stock, valued at approximately $1,796,172.70. The disclosure for this sale can be found here. Insiders sold a total of 23,995 shares of company stock valued at $2,412,657 over the last quarter. 0.12% of the stock is owned by insiders.
American Electric Power (NASDAQ:AEP – Get Rating) last posted its earnings results on Thursday, April 28th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.03. The company had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.37 billion. American Electric Power had a return on equity of 10.65% and a net margin of 15.34%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.15 EPS. As a group, equities research analysts anticipate that American Electric Power Company, Inc. will post 5.01 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Tuesday, May 10th were given a $0.78 dividend. The ex-dividend date of this dividend was Monday, May 9th. This represents a $3.12 annualized dividend and a dividend yield of 3.39%. American Electric Power’s dividend payout ratio is presently 59.66%.
A number of research analysts recently issued reports on the company. Credit Suisse Group assumed coverage on American Electric Power in a report on Monday, April 25th. They issued an “outperform” rating and a $113.00 price target for the company. Morgan Stanley cut their price target on American Electric Power from $113.00 to $101.00 and set an “overweight” rating for the company in a report on Thursday. Royal Bank of Canada lifted their price target on American Electric Power from $101.00 to $106.00 and gave the company an “outperform” rating in a report on Monday, March 7th. Mizuho boosted their price objective on American Electric Power from $94.00 to $104.00 and gave the stock a “buy” rating in a report on Tuesday, March 29th. Finally, Seaport Res Ptn cut American Electric Power from a “buy” rating to a “neutral” rating in a report on Monday, March 14th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $101.98.
American Electric Power Profile (Get Rating)
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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