Rather & Kittrell Inc. bought a new position in shares of American Electric Power Company, Inc. (NASDAQ: AEP – Get Rating) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 434 shares of the company stock, valued at approximately $ 38,000.
Several other institutional investors also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC bought a new position in American Electric Power in the 4th quarter valued at $ 354,042,000. Wellington Management Group LLP grew its stake in American Electric Power by 10.2% in the third quarter. Wellington Management Group LLP now owns 15,398,310 shares of the company stock valued at $ 1,250,036,000 after acquiring an additional 1,430,681 shares during the period. Morgan Stanley grew its stake in American Electric Power by 20.8% in the second quarter. Morgan Stanley now owns 6,163,616 shares of the company stock valued at $ 521,379,000 after acquiring an additional 1,061,831 shares during the period. Marshall Wace LLP grew its stake in American Electric Power by 1,477.3% in the fourth quarter. Marshall Wace LLP now owns 1,066,861 shares of the company stock valued at $ 94,919,000 after acquiring an additional 999,221 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in American Electric Power by 32.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,493,365 shares of the company stock valued at $ 310,805,000 after acquiring an additional 863,190 shares during the period. Institutional investors and hedge funds own 73.26% of the company stock.
AEP has been the topic of several analyst reports. Royal Bank of Canada upped their target price on American Electric Power from $ 101.00 to $ 106.00 and gave the stock an “outperform” rating in a report on Monday, March 7th. Wells Fargo & Company raised American Electric Power from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $ 93.00 to $ 101.00 in a research report on Monday, February 28th. Credit Suisse Group assumed coverage on American Electric Power in a research report on Monday, April 25th. They issued an “outperform” rating and a $ 113.00 target price on the stock. Morgan Stanley reduced their price target on American Electric Power from $ 117.00 to $ 113.00 and set an “overweight” rating on the stock in a research report on Monday, May 23rd. Finally, Mizuho increased their price target on American Electric Power from $ 94.00 to $ 104.00 and gave the stock a “buy” rating in a research report on Tuesday, March 29th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company stock. According to data from MarketBeat.com, American Electric Power presently has an average rating of “Buy” and a consensus target price of $ 103.98.
American Electric Power stock opened at $ 90.65 on Thursday. American Electric Power Company, Inc. has a 52 week low of $ 80.22 and a 52 week high of $ 104.81. The company 50 day moving average price is $ 100.34 and its two-hundred day moving average price is $ 94.15. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.28. The stock has a market cap of $ 46.55 billion, a P / E ratio of 17.33, a P / E / G ratio of 3.16 and a beta of 0.34.
American Electric Power (NASDAQ: AEP – Get Rating) last posted its quarterly earnings results on Thursday, April 28th. The company reported $ 1.22 EPS for the quarter, topping analysts’ consensus estimates of $ 1.19 by $ 0.03. American Electric Power had a net margin of 15.34% and a return on equity of 10.65%. The company had revenue of $ 4.60 billion for the quarter, compared to analysts’ expectations of $ 4.37 billion. During the same quarter in the previous year, the firm posted $ 1.15 EPS. American Electric Power’s revenue was up 7.0% on a year-over-year basis. On average, equities analysts anticipate that American Electric Power Company, Inc. will post 5.01 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Tuesday, May 10th were paid a $ 0.78 dividend. The ex-dividend date was Monday, May 9th. This represents a $ 3.12 dividend on an annualized basis and a yield of 3.44%. American Electric Power’s dividend payout ratio is 59.66%.
In other news, EVP David Matthew Feinberg sold 2,890 shares of the business’s stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $ 99.47, for a total transaction of $ 287,468.30. Following the completion of the transaction, the executive vice president now directly owns 11,395 shares in the company, valued at approximately $ 1,133,460.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Greg B. Hall sold 759 shares of the business’s stock in a transaction on Thursday, May 5th. The shares were sold at an average price of $ 100.15, for a total transaction of $ 76,013.85. Following the transaction, the executive vice president now owns 3,903 shares of the company stock, valued at $ 390,885.45. The disclosure for this sale can be found here. Insiders sold a total of 23,995 shares of company stock valued at $ 2,412,657 over the last quarter. 0.12% of the stock is owned by company insiders.
About American Electric Power: (Get Rating)
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.
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