MJP Associates Inc. ADV Buys Shares of 2,403 American Electric Power Company, Inc. (NASDAQ:AEP)

MJP Associates Inc. ADV bought a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,403 shares of the company’s stock, valued at approximately $207,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Apella Capital LLC acquired a new position in American Electric Power in the fourth quarter valued at about $348,000. Rockline Wealth Management LLC acquired a new position in American Electric Power in the fourth quarter valued at about $1,982,000. Nisa Investment Advisors LLC boosted its position in shares of American Electric Power by 28.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 50,434 shares of the company’s stock worth $4,096,000 after buying an additional 11,065 shares during the period. Steward Partners Investment Advisory LLC boosted its position in shares of American Electric Power by 34.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 62,978 shares of the company’s stock worth $5,115,000 after buying an additional 16,225 shares during the period. Finally, Nordea Investment Management AB boosted its position in shares of American Electric Power by 1,592.1% during the fourth quarter. Nordea Investment Management AB now owns 414,150 shares of the company’s stock worth $33,612,000 after buying an additional 389,675 shares during the period. 75.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Scotiabank upped their price objective on American Electric Power from $86.00 to $90.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, May 1st. Barclays upped their price objective on American Electric Power from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Wells Fargo & Company upped their price objective on American Electric Power from $84.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. Royal Bank of Canada upped their price objective on American Electric Power from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Finally, Morgan Stanley increased their price target on American Electric Power from $91.00 to $98.00 and gave the company an “overweight” rating in a research report on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $88.92.

Insider Transactions at American Electric Power

In other news, EVP Greg B. Hall sold 5,880 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $88.25, for a total transaction of $518,910.00. Following the transaction, the executive vice president now owns 6,385 shares in the company, valued at $563,476.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Antonio P. Smyth sold 4,898 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $90.00, for a total transaction of $440,820.00. Following the sale, the executive vice president now owns 6,446 shares of the company’s stock, valued at $580,140. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Greg B. Hall sold 5,880 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $88.25, for a total value of $518,910.00. Following the sale, the executive vice president now directly owns 6,385 shares in the company, valued at approximately $563,476.25. The disclosure for this sale can be found here. 0.12% of the stock is owned by corporate insiders.

American Electric Power Stock Performance

NASDAQ:AEP traded down $0.83 on Friday, hitting $87.05. The company’s stock had a trading volume of 5,915,033 shares, compared to its average volume of 2,224,707. The company has a current ratio of 0.54, a quick ratio of 0.37 and a debt-to-equity ratio of 1.50. The stock has a fifty day moving average of $88.20 and a two-hundred day moving average of $83.87. The firm has a market capitalization of $45.89 billion, a P/E ratio of 16.15, a price-to-earnings-growth ratio of 2.61 and a beta of 0.53. American Electric Power Company, Inc. has a one year low of $69.38 and a one year high of $93.44.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Tuesday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.02. The firm had revenue of $5 billion for the quarter, compared to analyst estimates of $5.02 billion. American Electric Power had a return on equity of 11.23% and a net margin of 14.60%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.11 earnings per share. Research analysts predict that American Electric Power Company, Inc. will post 5.58 earnings per share for the current year.

American Electric Power Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.04%. American Electric Power’s dividend payout ratio (DPR) is currently 65.31%.

American Electric Power Company 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.