BerganKDV Wealth Management LLC Purchases 2,187 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

BerganKDV Wealth Management LLC grew its position in shares of American Electric Power Company, Inc. (NASDAQ:AEPGet Rating) by 6.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 37,517 shares of the company’s stock after acquiring an additional 2,187 shares during the quarter. BerganKDV Wealth Management LLC’s holdings in American Electric Power were worth $3,743,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealthspire Advisors LLC raised its holdings in American Electric Power by 22.8% during the 1st quarter. Wealthspire Advisors LLC now owns 12,128 shares of the company’s stock valued at $1,210,000 after buying an additional 2,250 shares during the period. Capital Advisors Ltd. LLC raised its holdings in American Electric Power by 8,571.4% during the 1st quarter. Capital Advisors Ltd. LLC now owns 607 shares of the company’s stock valued at $61,000 after buying an additional 600 shares during the period. ICICI Prudential Asset Management Co Ltd raised its holdings in American Electric Power by 16.6% during the 1st quarter. ICICI Prudential Asset Management Co Ltd now owns 1,449 shares of the company’s stock valued at $144,000 after buying an additional 206 shares during the period. Lincoln National Corp raised its holdings in American Electric Power by 1.5% during the 1st quarter. Lincoln National Corp now owns 20,987 shares of the company’s stock valued at $2,094,000 after buying an additional 304 shares during the period. Finally, Checchi Capital Advisers LLC raised its holdings in American Electric Power by 3.2% during the 1st quarter. Checchi Capital Advisers LLC now owns 8,296 shares of the company’s stock valued at $828,000 after buying an additional 256 shares during the period. 73.26% of the stock is currently owned by institutional investors.

American Electric Power Stock Down 0.5 %

Shares of AEP traded down $0.49 during midday trading on Friday, reaching $99.46. 2,699,261 shares of the stock were exchanged, compared to its average volume of 2,476,944. American Electric Power Company, Inc. has a 52 week low of $80.22 and a 52 week high of $104.81. The company’s 50 day moving average is $95.90 and its two-hundred day moving average is $95.93. The company has a market capitalization of $51.10 billion, a P/E ratio of 19.54, a PEG ratio of 3.23 and a beta of 0.35. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.36.

American Electric Power (NASDAQ:AEPGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.01. American Electric Power had a return on equity of 10.46% and a net margin of 14.39%. The company had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $3.98 billion. During the same quarter last year, the company earned $1.18 earnings per share. The firm’s revenue for the quarter was up 21.1% compared to the same quarter last year. On average, sell-side analysts anticipate that American Electric Power Company, Inc. will post 5 earnings per share for the current year.

American Electric Power Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Wednesday, August 10th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Tuesday, August 9th. This represents a $3.12 dividend on an annualized basis and a yield of 3.14%. American Electric Power’s dividend payout ratio (DPR) is 61.30%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Credit Suisse Group increased their price target on American Electric Power from $103.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, July 28th. Citigroup increased their target price on American Electric Power from $94.00 to $99.00 in a research note on Thursday, July 28th. Finally, Morgan Stanley reduced their target price on American Electric Power from $113.00 to $101.00 and set an “overweight” rating on the stock in a research note on Thursday, June 23rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $102.67.

Insider Transactions at American Electric Power

In other American Electric Power news, EVP Therace Risch sold 5,330 shares of the company’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $102.35, for a total value of $545,525.50. Following the sale, the executive vice president now owns 8,248 shares in the company, valued at approximately $844,182.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Charles E. Zebula sold 1,902 shares of American Electric Power stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $99.05, for a total value of $188,393.10. Following the sale, the executive vice president now directly owns 18,134 shares of the company’s stock, valued at $1,796,172.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Therace Risch sold 5,330 shares of the stock in a transaction on Monday, June 6th. The shares were sold at an average price of $102.35, for a total value of $545,525.50. Following the completion of the transaction, the executive vice president now directly owns 8,248 shares of the company’s stock, valued at $844,182.80. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

American Electric Power Company Profile

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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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