Diversify Advisory Services LLC Takes Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Diversify Advisory Services LLC acquired a new position in American Electric Power Company, Inc. (NASDAQ:AEPFree Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,914 shares of the company’s stock, valued at approximately $246,000.

Several other large investors have also added to or reduced their stakes in AEP. Private Advisor Group LLC boosted its position in American Electric Power by 4.9% during the first quarter. Private Advisor Group LLC now owns 56,300 shares of the company’s stock valued at $4,847,000 after purchasing an additional 2,607 shares during the last quarter. J.W. Cole Advisors Inc. boosted its holdings in shares of American Electric Power by 7.6% in the 1st quarter. J.W. Cole Advisors Inc. now owns 16,317 shares of the company’s stock valued at $1,404,000 after buying an additional 1,158 shares during the last quarter. Hartline Investment Corp bought a new position in shares of American Electric Power in the first quarter valued at $1,311,000. Norden Group LLC acquired a new position in American Electric Power during the first quarter worth $419,000. Finally, Van ECK Associates Corp raised its position in American Electric Power by 7.0% during the first quarter. Van ECK Associates Corp now owns 125,037 shares of the company’s stock worth $10,766,000 after acquiring an additional 8,206 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AEP. Royal Bank of Canada upped their target price on shares of American Electric Power from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Wells Fargo & Company upped their target price on American Electric Power from $84.00 to $89.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. BMO Capital Markets raised their price target on shares of American Electric Power from $95.00 to $99.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 14th. UBS Group downgraded shares of American Electric Power from a “neutral” rating to a “sell” rating and cut their price objective for the company from $86.00 to $83.00 in a report on Monday, March 11th. Finally, StockNews.com upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $88.62.

View Our Latest Research Report on American Electric Power

Insider Buying and Selling

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

American Electric Power Trading Up 0.3 %

Shares of AEP stock opened at $87.86 on Monday. American Electric Power Company, Inc. has a twelve month low of $69.38 and a twelve month high of $93.44. The stock’s fifty day simple moving average is $88.97 and its 200 day simple moving average is $84.36. 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 firm has a market capitalization of $46.31 billion, a P/E ratio of 16.30, a P/E/G ratio of 2.60 and a beta of 0.53.

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 analysts’ consensus estimates of $1.25 by $0.02. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. The business had revenue of $5 billion during the quarter, compared to analyst estimates of $5.02 billion. During the same quarter last year, the business earned $1.11 EPS. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, sell-side analysts predict that American Electric Power Company, Inc. will post 5.58 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 4.01%. American Electric Power’s payout ratio is 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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