Bowling Portfolio Management LLC raised its stake in American Electric Power Company, Inc. (NASDAQ:AEP – Get Rating) by 3.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,908 shares of the company’s stock after acquiring an additional 321 shares during the quarter. Bowling Portfolio Management LLC’s holdings in American Electric Power were worth $989,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of AEP. Industrial Alliance Investment Management Inc. bought a new position in American Electric Power during the 4th quarter worth approximately $26,000. US Asset Management LLC bought a new position in American Electric Power in the first quarter valued at approximately $28,000. Arlington Partners LLC bought a new stake in shares of American Electric Power in the fourth quarter worth $29,000. Rather & Kittrell Inc. bought a new stake in shares of American Electric Power in the fourth quarter worth $38,000. Finally, Future Financial Wealth Managment LLC acquired a new position in American Electric Power during the fourth quarter worth $39,000. Hedge funds and other institutional investors own 73.26% of the company’s stock.
AEP has been the topic of a number of recent analyst reports. Mizuho boosted their target price on shares of American Electric Power from $94.00 to $104.00 and gave the stock a “buy” rating in a report on Tuesday, March 29th. Morgan Stanley lowered their target price on shares of American Electric Power from $117.00 to $113.00 and set an “overweight” rating on the stock in a report on Monday, May 23rd. Credit Suisse Group initiated coverage on shares of American Electric Power in a report on Monday, April 25th. They set an “outperform” rating and a $113.00 target price on the stock. Wells Fargo & Company upgraded shares of American Electric Power from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $93.00 to $101.00 in a report on Monday, February 28th. Finally, Seaport Res Ptn downgraded shares of American Electric Power from a “buy” rating to a “neutral” rating in a report on Monday, March 14th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.98.
American Electric Power (NASDAQ:AEP – Get Rating) last announced its earnings results on Thursday, April 28th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.03. The company had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.37 billion. American Electric Power had a net margin of 15.34% and a return on equity of 10.65%. American Electric Power’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.15 earnings per share. As a group, equities research analysts expect that American Electric Power Company, Inc. will post 5.01 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Tuesday, May 10th were given a $0.78 dividend. The ex-dividend date of this dividend was Monday, May 9th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.45%. American Electric Power’s payout ratio is presently 59.66%.
In related news, EVP Therace Risch sold 5,330 shares of the company’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $102.35, for a total transaction of $545,525.50. Following the completion of the sale, the executive vice president now owns 8,248 shares of the company’s stock, valued at $844,182.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Matthew Feinberg sold 2,699 shares of the company’s stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $100.85, for a total transaction of $272,194.15. Following the sale, the executive vice president now directly owns 16,302 shares of the company’s stock, valued at approximately $1,644,056.70. The disclosure for this sale can be found here. In the last three months, insiders sold 23,995 shares of company stock valued at $2,412,657. 0.12% of the stock is currently 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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