44,800 Shares in American Electric Power Company Inc (NYSE:AEP) Acquired by Alberta Investment Management Corp

Alberta Investment Management Corp purchased a new position in shares of American Electric Power Company Inc (NYSE:AEP) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 44,800 shares of the utilities provider’s stock, valued at approximately $3,618,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of AEP. RFG Advisory LLC lifted its stake in American Electric Power by 8.8% in 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 during the last quarter. Clarius Group LLC lifted its stake in American Electric Power by 9.7% in the fourth quarter. Clarius Group LLC now owns 3,940 shares of the utilities provider’s stock valued at $381,000 after acquiring an additional 350 shares during the last quarter. SeaCrest Wealth Management LLC lifted its stake in American Electric Power by 3.6% in the fourth quarter. SeaCrest Wealth Management LLC now owns 12,639 shares of the utilities provider’s stock valued at $1,195,000 after acquiring an additional 434 shares during the last quarter. Loveless Wealth Management LLC acquired a new stake in American Electric Power in the fourth quarter valued at approximately $981,000. Finally, J.W. Cole Advisors Inc. acquired a new stake in American Electric Power in the fourth quarter valued at approximately $1,449,000. Hedge funds and other institutional investors own 73.67% of the company’s stock.

AEP stock opened at $77.37 on Friday. The stock’s fifty day simple moving average is $81.13 and its two-hundred day simple moving average is $90.61. The company has a current ratio of 0.45, a quick ratio of 0.35 and a debt-to-equity ratio of 1.33. American Electric Power Company Inc has a 1-year low of $65.14 and a 1-year high of $104.97. The stock has a market cap of $38.53 billion, a P/E ratio of 20.74, a P/E/G ratio of 3.21 and a beta of 0.38.

American Electric Power (NYSE:AEP) last posted its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $4.26 billion. During the same period in the prior year, the firm posted $1.19 EPS. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. As a group, analysts forecast that American Electric Power Company Inc will post 4.26 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th will be given a dividend of $0.70 per share. The ex-dividend date is Thursday, May 7th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.62%. American Electric Power’s dividend payout ratio is presently 66.04%.

In other news, CEO Nicholas K. Akins sold 69,657 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 170,522 shares of the company’s stock, valued at approximately $17,231,248.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nicholas K. Akins sold 16,519 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $81.90, for a total value of $1,352,906.10. Following the transaction, the chief executive officer now directly owns 134,743 shares in the company, valued at approximately $11,035,451.70. The disclosure for this sale can be found here. Insiders have sold a total of 127,067 shares of company stock worth $12,434,814 in the last ninety days. Insiders own 0.16% of the company’s stock.

A number of research firms have recently commented on AEP. SunTrust Banks lifted their price target 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. UBS Group dropped their target price on shares of American Electric Power from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. BMO Capital Markets began coverage on shares of American Electric Power in a research note on Wednesday, February 19th. They set an “outperform” rating and a $111.00 price target on the stock. Bank of America downgraded shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $80.00 target price on the stock. in a research note on Friday, May 15th. Finally, TheStreet downgraded shares of American Electric Power from a “b” rating to a “c+” rating in a research report on Friday, March 20th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $95.17.

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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

Further Reading: How Does the Quiet Period Work?

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Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

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