Prosperity Consulting Group LLC Makes New $263,000 Investment in American Electric Power Company, Inc. (NASDAQ:AEP)

Prosperity Consulting Group LLC acquired a new stake in American Electric Power Company, Inc. (NASDAQ:AEPFree Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,054 shares of the company’s stock, valued at approximately $263,000.

Several other large investors have also made changes to their positions in the business. Denali Advisors LLC acquired a new position in American Electric Power during the first quarter worth $26,000. Rise Advisors LLC acquired a new position in shares of American Electric Power during the 1st quarter worth about $27,000. Frazier Financial Advisors LLC purchased a new position in American Electric Power in the 4th quarter valued at about $26,000. YHB Investment Advisors Inc. acquired a new stake in American Electric Power in the 1st quarter worth about $29,000. Finally, Wetzel Investment Advisors Inc. purchased a new stake in American Electric Power during the 4th quarter worth approximately $32,000. 75.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on AEP. Morgan Stanley decreased their target price 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. StockNews.com raised shares of American Electric Power from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Scotiabank raised their price target on shares of American Electric Power from $86.00 to $90.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, May 1st. Wells Fargo & Company upped their price objective 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. Finally, Barclays raised their target price on shares of American Electric Power from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $88.62.

View Our Latest Research Report on American Electric Power

Insider Buying and Selling at American Electric Power

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

American Electric Power Price Performance

AEP stock opened at $87.86 on Friday. American Electric Power Company, Inc. has a 52-week low of $69.38 and a 52-week high of $93.44. The company has a quick ratio of 0.37, a current ratio of 0.54 and a debt-to-equity ratio of 1.50. The stock has a market cap of $46.31 billion, a price-to-earnings ratio of 16.30, a price-to-earnings-growth ratio of 2.60 and a beta of 0.53. The business has a fifty day moving average of $88.97 and a two-hundred day moving average of $84.33.

American Electric Power (NASDAQ:AEPGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.02. The firm had revenue of $5 billion for the quarter, compared to analyst estimates of $5.02 billion. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. American Electric Power’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.11 EPS. As a group, research analysts anticipate that American Electric Power Company, Inc. will post 5.58 earnings per share for the current year.

American Electric Power Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were issued a $0.88 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $3.52 annualized dividend and a yield of 4.01%. American Electric Power’s dividend payout ratio (DPR) is presently 65.31%.

American Electric Power Profile

(Free Report)

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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Institutional Ownership by Quarter for American Electric Power (NASDAQ:AEP)

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