We Are One Seven LLC increased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP – Get Rating) by 171.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,710 shares of the company’s stock after buying an additional 4,238 shares during the period. We Are One Seven LLC’s holdings in American Electric Power were worth $597,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Arlington Partners LLC acquired a new position in American Electric Power during the 4th quarter valued at $29,000. Future Financial Wealth Managment LLC acquired a new position in American Electric Power during the 4th quarter valued at $39,000. PYA Waltman Capital LLC acquired a new position in American Electric Power during the 4th quarter valued at $44,000. Consolidated Planning Corp acquired a new position in American Electric Power during the 3rd quarter valued at $42,000. Finally, Old North State Trust LLC raised its stake in American Electric Power by 38.8% during the 4th quarter. Old North State Trust LLC now owns 615 shares of the company’s stock valued at $55,000 after purchasing an additional 172 shares during the last quarter. 73.26% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently commented on AEP shares. StockNews.com started coverage on shares of American Electric Power in a research note on Thursday, March 31st. They set a “hold” rating for the company. Royal Bank of Canada increased their price objective on shares of American Electric Power from $101.00 to $106.00 and gave the company an “outperform” rating in a research note on Monday, March 7th. Mizuho increased their price objective on shares of American Electric Power from $94.00 to $104.00 and gave the company a “buy” rating in a research note on Tuesday, March 29th. Morgan Stanley increased their price objective on shares of American Electric Power from $112.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, April 20th. Finally, Credit Suisse Group initiated coverage on shares of American Electric Power in a research note on Monday, April 25th. They issued an “outperform” rating and a $113.00 price objective for the company. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $104.70.
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, topping analysts’ consensus estimates of $1.20 by $0.02. The business 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%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the company posted $1.15 EPS. On average, equities analysts anticipate that American Electric Power Company, Inc. will post 4.99 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Shareholders of record on Tuesday, May 10th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Monday, May 9th. American Electric Power’s dividend payout ratio is currently 59.66%.
In other American Electric Power news, EVP Greg B. Hall sold 1,064 shares of the stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $85.71, for a total transaction of $91,195.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP David Matthew Feinberg sold 2,699 shares of the 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 in the company, valued at approximately $1,644,056.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,352 shares of company stock worth $3,138,718. Insiders own 0.12% of the company’s stock.
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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