1832 Asset Management L.P. Lowers Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

1832 Asset Management L.P. cut its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 6.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,780 shares of the company’s stock after selling 1,378 shares during the quarter. 1832 Asset Management L.P.’s holdings in American Electric Power were worth $1,875,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AEP. Vanguard Group Inc. lifted its stake in shares of American Electric Power by 0.8% in the first quarter. Vanguard Group Inc. now owns 49,630,436 shares of the company’s stock worth $4,273,181,000 after acquiring an additional 405,114 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of American Electric Power by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,983,393 shares of the company’s stock valued at $242,311,000 after buying an additional 147,826 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of American Electric Power by 67.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 2,586,250 shares of the company’s stock worth $210,055,000 after buying an additional 1,043,885 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of American Electric Power by 542.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock worth $193,541,000 after buying an additional 1,927,234 shares during the last quarter. Finally, Nomura Holdings Inc. acquired a new stake in American Electric Power in the fourth quarter valued at $175,667,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AEP. Wells Fargo & Company upped their target price on shares of American Electric Power from $84.00 to $89.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 1st. Morgan Stanley dropped their price target on American Electric Power from $98.00 to $94.00 and set an “overweight” rating on the stock in a research report on Monday, June 24th. Scotiabank boosted their price objective on American Electric Power from $86.00 to $90.00 and gave the company a “sector outperform” rating in a research report on Wednesday, May 1st. StockNews.com upgraded American Electric Power from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Finally, LADENBURG THALM/SH SH upgraded shares of American Electric Power from a “sell” rating to a “neutral” rating and upped their target price for the stock from $73.00 to $86.00 in a research report on Thursday, June 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $88.77.

American Electric Power Stock Up 0.6 %

AEP stock traded up $0.61 during midday trading on Friday, reaching $96.45. The company had a trading volume of 2,275,133 shares, compared to its average volume of 2,204,326. The company has a 50 day moving average of $89.65 and a two-hundred day moving average of $85.41. The company has a market capitalization of $50.84 billion, a P/E ratio of 17.89, a PEG ratio of 2.78 and a beta of 0.53. American Electric Power Company, Inc. has a 1 year low of $69.38 and a 1 year high of $97.32. The company has a current ratio of 0.54, a quick ratio of 0.37 and a debt-to-equity ratio of 1.50.

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 analysts’ consensus estimates of $1.25 by $0.02. The firm had revenue of $5 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the firm earned $1.11 earnings per share. On average, equities research analysts expect that American Electric Power Company, Inc. will post 5.59 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be paid a $0.88 dividend. The ex-dividend date is Friday, August 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.65%. American Electric Power’s payout ratio is 65.31%.

Insider Buying and Selling

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

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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.