Indiana Trust & Investment Management CO lifted its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 7.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,126 shares of the company’s stock after buying an additional 372 shares during the period. Indiana Trust & Investment Management CO’s holdings in American Electric Power were worth $434,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. ZWJ Investment Counsel Inc. boosted its stake in American Electric Power by 6.8% in the 4th quarter. ZWJ Investment Counsel Inc. now owns 237,385 shares of the company’s stock worth $19,767,000 after purchasing an additional 15,216 shares during the period. Fiduciary Trust Co. boosted its stake in American Electric Power by 3.6% in the 4th quarter. Fiduciary Trust Co. now owns 88,539 shares of the company’s stock worth $7,372,000 after purchasing an additional 3,066 shares during the period. Solitude Financial Services acquired a new position in shares of American Electric Power during the 4th quarter worth about $930,000. Ardevora Asset Management LLP boosted its stake in shares of American Electric Power by 7.5% during the 4th quarter. Ardevora Asset Management LLP now owns 550,887 shares of the company’s stock worth $45,872,000 after buying an additional 38,546 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of American Electric Power by 277.1% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 18,590 shares of the company’s stock worth $1,519,000 after buying an additional 13,660 shares during the last quarter. Institutional investors and hedge funds own 75.01% of the company’s stock.
In related news, CEO Nicholas K. Akins sold 2,100 shares of American Electric Power stock in a transaction on Thursday, April 1st. The shares were sold at an average price of $84.90, for a total transaction of $178,290.00. Following the completion of the transaction, the chief executive officer now owns 136,264 shares of the company’s stock, valued at $11,568,813.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark C. Mccullough sold 9,205 shares of American Electric Power stock in a transaction on Friday, February 26th. The stock was sold at an average price of $76.23, for a total transaction of $701,697.15. Following the transaction, the executive vice president now directly owns 11,327 shares of the company’s stock, valued at approximately $863,457.21. The disclosure for this sale can be found here. In the last quarter, insiders have sold 118,935 shares of company stock worth $9,204,606. 0.16% of the stock is owned by company insiders.
American Electric Power stock traded down $0.31 during mid-day trading on Thursday, reaching $86.38. The company had a trading volume of 28,146 shares, compared to its average volume of 3,151,501. American Electric Power Company, Inc. has a fifty-two week low of $74.80 and a fifty-two week high of $94.21. The company has a current ratio of 0.48, a quick ratio of 0.34 and a debt-to-equity ratio of 1.36. The company has a market cap of $42.90 billion, a P/E ratio of 22.40, a P/E/G ratio of 3.00 and a beta of 0.22. The business has a fifty day simple moving average of $81.22 and a 200 day simple moving average of $82.43.
American Electric Power (NASDAQ:AEP) last issued its earnings results on Wednesday, February 24th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.97 billion. American Electric Power had a net margin of 12.82% and a return on equity of 10.19%. The company’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the business posted $0.60 earnings per share. Research analysts forecast that American Electric Power Company, Inc. will post 4.33 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 10th. Stockholders of record on Wednesday, February 10th were issued a dividend of $0.74 per share. The ex-dividend date of this dividend was Tuesday, February 9th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.43%. American Electric Power’s dividend payout ratio (DPR) is presently 69.81%.
Several brokerages recently issued reports on AEP. Morgan Stanley raised their target price on shares of American Electric Power from $98.00 to $99.00 and gave the company an “overweight” rating in a research note on Thursday, March 25th. Guggenheim upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating and set a $93.00 target price for the company in a research note on Wednesday, January 20th. Wells Fargo & Company downgraded shares of American Electric Power from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $101.00 to $88.00 in a research note on Wednesday, January 6th. Mizuho started coverage on shares of American Electric Power in a report on Monday, December 14th. They issued a “buy” rating and a $84.00 price target on the stock. Finally, Edward Jones started coverage on shares of American Electric Power in a report on Tuesday, March 16th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $92.33.
American Electric Power Profile
American Electric Power Co, Inc engages in the business of generation, transmission and distribution of electricity. It operates through the following segments: Vertically Integrated Utilities, Transmission & Distribution Utilities, AEP Transmission Holdco and Generation & Marketing. The Vertically Integrated Utilities segment engages in the generation, transmission and distribution of electricity for sale to retail and wholesale customers through assets owned and operated by its subsidiaries.
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