Usca Ria LLC bought a new position in shares of American Electric Power Company Inc (NYSE:AEP) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 13,904 shares of the utilities provider’s stock, valued at approximately $1,224,000.
Several other institutional investors have also added to or reduced their stakes in AEP. IMA Wealth Inc. purchased a new stake in shares of American Electric Power during the second quarter worth $30,000. JJJ Advisors Inc. purchased a new stake in shares of American Electric Power during the second quarter worth $31,000. Glassman Wealth Services grew its holdings in shares of American Electric Power by 138.0% during the first quarter. Glassman Wealth Services now owns 388 shares of the utilities provider’s stock worth $32,000 after buying an additional 225 shares in the last quarter. Weaver Consulting Group purchased a new stake in shares of American Electric Power during the first quarter worth $32,000. Finally, Osborn Williams & Donohoe LLC purchased a new stake in shares of American Electric Power during the first quarter worth $38,000. 73.47% of the stock is owned by institutional investors and hedge funds.
In other American Electric Power news, VP Brian X. Tierney sold 4,458 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $89.73, for a total value of $400,016.34. Following the transaction, the vice president now owns 39,745 shares of the company’s stock, valued at $3,566,318.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Lisa M. Barton sold 1,752 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $89.41, for a total transaction of $156,646.32. Following the completion of the transaction, the insider now directly owns 34,460 shares in the company, valued at approximately $3,081,068.60. The disclosure for this sale can be found here. Insiders sold 7,513 shares of company stock worth $669,398 in the last ninety days. 0.16% of the stock is currently owned by corporate insiders.
Shares of AEP stock traded down $0.13 on Friday, hitting $90.23. 1,972,100 shares of the stock traded hands, compared to its average volume of 2,306,769. The firm’s 50-day moving average price is $89.62 and its two-hundred day moving average price is $85.70. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.36 and a current ratio of 0.49. The stock has a market capitalization of $44.62 billion, a PE ratio of 22.84, a PEG ratio of 3.86 and a beta of 0.13. American Electric Power Company Inc has a twelve month low of $68.92 and a twelve month high of $91.99.
American Electric Power (NYSE:AEP) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.02. American Electric Power had a net margin of 12.53% and a return on equity of 10.69%. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same quarter in the previous year, the company posted $1.01 EPS. The company’s revenue was down 10.0% compared to the same quarter last year. On average, equities research analysts anticipate that American Electric Power Company Inc will post 4.13 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be given a $0.67 dividend. The ex-dividend date is Thursday, August 8th. This represents a $2.68 dividend on an annualized basis and a yield of 2.97%. American Electric Power’s payout ratio is currently 67.85%.
Several research analysts have recently weighed in on the stock. UBS Group boosted their price target on shares of American Electric Power from $94.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Zacks Investment Research raised shares of American Electric Power from a “sell” rating to a “hold” rating and set a $96.00 price target on the stock in a research report on Thursday, July 11th. Wells Fargo & Co boosted their price target on shares of American Electric Power from $89.00 to $93.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Morgan Stanley lowered their price target on shares of American Electric Power from $93.00 to $91.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, Bank of America reissued a “buy” rating and set a $98.00 price target (up previously from $93.00) on shares of American Electric Power in a research report on Tuesday, July 9th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $88.33.
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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