FormulaFolio Investments LLC cut its stake in shares of American Electric Power Company Inc (NYSE:AEP) by 8.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,916 shares of the utilities provider’s stock after selling 254 shares during the quarter. FormulaFolio Investments LLC’s holdings in American Electric Power were worth $244,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Legacy Advisors LLC acquired a new position in American Electric Power during the 1st quarter worth approximately $25,000. Sageworth Trust Co increased its position in American Electric Power by 1,026.9% during the first quarter. Sageworth Trust Co now owns 293 shares of the utilities provider’s stock worth $25,000 after buying an additional 267 shares in the last quarter. Capital Financial Planning LLC purchased a new position in American Electric Power during the fourth quarter worth $26,000. Athena Capital Advisors LLC purchased a new position in American Electric Power during the fourth quarter worth $27,000. Finally, Claybrook Capital LLC purchased a new position in American Electric Power during the fourth quarter worth $27,000. 73.60% of the stock is owned by institutional investors.
AEP has been the subject of several recent research reports. UBS Group raised their price target on American Electric Power from $89.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Zacks Investment Research upgraded American Electric Power from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a research note on Monday, March 18th. Wolfe Research set a $89.00 price objective on American Electric Power and gave the stock a “buy” rating in a research note on Friday, April 26th. Morgan Stanley restated an “equal weight” rating and set a $92.00 price objective (up previously from $88.00) on shares of American Electric Power in a research note on Friday. Finally, Goldman Sachs Group cut American Electric Power from a “buy” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a research note on Monday, April 8th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $82.07.
In other news, CEO Nicholas K. Akins sold 11,152 shares of American Electric Power stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $84.94, for a total transaction of $947,250.88. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP David Matthew Feinberg sold 4,535 shares of American Electric Power stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $85.72, for a total value of $388,740.20. Following the transaction, the executive vice president now owns 9,674 shares in the company, valued at approximately $829,255.28. The disclosure for this sale can be found here. Insiders have sold 24,637 shares of company stock worth $2,112,145 in the last quarter. 0.16% of the stock is currently owned by corporate insiders.
Shares of AEP stock traded up $0.99 during mid-day trading on Friday, hitting $90.58. 1,644,638 shares of the stock traded hands, compared to its average volume of 2,557,897. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.37 and a current ratio of 0.49. The stock has a market cap of $44.09 billion, a PE ratio of 22.93, a price-to-earnings-growth ratio of 3.82 and a beta of 0.16. American Electric Power Company Inc has a twelve month low of $64.19 and a twelve month high of $91.07.
American Electric Power (NYSE:AEP) last issued its earnings results on Thursday, April 25th. The utilities provider reported $1.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.09. The business had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.23 billion. American Electric Power had a return on equity of 10.81% and a net margin of 12.64%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.96 EPS. Equities research analysts predict that American Electric Power Company Inc will post 4.15 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were issued a dividend of $0.67 per share. The ex-dividend date was Thursday, May 9th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.96%. American Electric Power’s dividend payout ratio is 67.85%.
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.
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