Family Legacy Inc. bought a new position in shares of American Electric Power Company Inc (NYSE:AEP) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 2,980 shares of the utilities provider’s stock, valued at approximately $262,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Sageworth Trust Co boosted its stake in American Electric Power by 1,026.9% during the 1st quarter. Sageworth Trust Co now owns 293 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 267 shares during the last quarter. Legacy Advisors LLC acquired a new stake in American Electric Power during the 1st quarter worth $25,000. Truvestments Capital LLC acquired a new stake in American Electric Power during the 1st quarter worth $28,000. IMA Wealth Inc. acquired a new stake in American Electric Power during the 2nd quarter worth $30,000. Finally, JJJ Advisors Inc. acquired a new stake in American Electric Power during the 2nd quarter worth $31,000. 73.44% of the stock is currently owned by institutional investors.
Several equities research analysts have issued reports on AEP shares. Wolfe Research set a $89.00 target price on shares of American Electric Power and gave the stock a “buy” rating in a research note on Friday, April 26th. Wells Fargo & Co lifted their target price on shares of American Electric Power from $89.00 to $93.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Zacks Investment Research upgraded American Electric Power from a “sell” rating to a “hold” rating and set a $96.00 price target on the stock in a report on Thursday, July 11th. Morgan Stanley lifted their price target on American Electric Power from $88.00 to $92.00 and gave the stock an “equal weight” rating in a report on Friday, June 14th. Finally, Goldman Sachs Group lowered American Electric Power from a “buy” rating to a “neutral” rating and set a $78.00 price target on the stock. in a report on Monday, April 8th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $87.45.
In related news, VP Brian X. Tierney sold 4,458 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $89.73, for a total value of $400,016.34. Following the sale, the vice president now directly owns 39,745 shares in the company, valued at approximately $3,566,318.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark C. Mccullough sold 1,503 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $85.81, for a total transaction of $128,972.43. Following the completion of the sale, the insider now owns 8,296 shares in the company, valued at $711,879.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,943 shares of company stock worth $1,564,911. Insiders own 0.16% of the company’s stock.
NYSE AEP opened at $88.69 on Monday. American Electric Power Company Inc has a 52 week low of $68.92 and a 52 week high of $91.99. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.36 and a current ratio of 0.49. The business’s fifty day moving average is $89.86. The stock has a market cap of $43.80 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 3.79 and a beta of 0.13.
American Electric Power (NYSE:AEP) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.98 by $0.02. American Electric Power had a return on equity of 10.69% and a net margin of 12.53%. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $4.13 billion. During the same quarter in the previous year, the firm earned $1.01 EPS. The company’s quarterly revenue was down 10.0% compared to the same quarter last year. As a group, equities research analysts expect that American Electric Power Company Inc will post 4.13 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be issued a dividend of $0.67 per share. The ex-dividend date is Thursday, August 8th. This represents a $2.68 annualized dividend and a dividend yield of 3.02%. American Electric Power’s dividend payout ratio is presently 67.85%.
About American Electric Power
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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.
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