Commerce Bank increased its position in shares of American Electric Power Company Inc (NYSE:AEP) by 4.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 46,991 shares of the utilities provider’s stock after buying an additional 2,196 shares during the quarter. Commerce Bank’s holdings in American Electric Power were worth $3,758,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in AEP. Wealth Quarterback LLC purchased a new position in American Electric Power during the 4th quarter worth approximately $2,553,710,000. Macquarie Group Ltd. grew its position in shares of American Electric Power by 227.3% in the fourth quarter. Macquarie Group Ltd. now owns 1,206,926 shares of the utilities provider’s stock valued at $114,067,000 after purchasing an additional 838,212 shares during the period. Pictet Asset Management Ltd. grew its position in shares of American Electric Power by 16.9% in the fourth quarter. Pictet Asset Management Ltd. now owns 4,357,227 shares of the utilities provider’s stock valued at $411,802,000 after purchasing an additional 629,160 shares during the period. Goldman Sachs Group Inc. grew its position in shares of American Electric Power by 16.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,054,196 shares of the utilities provider’s stock valued at $288,652,000 after purchasing an additional 421,053 shares during the period. Finally, Swiss National Bank grew its position in shares of American Electric Power by 21.4% in the first quarter. Swiss National Bank now owns 2,314,042 shares of the utilities provider’s stock valued at $185,077,000 after purchasing an additional 407,400 shares during the period. Hedge funds and other institutional investors own 73.67% of the company’s stock.
In related news, EVP Mark C. Mccullough sold 2,244 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $81.19, for a total value of $182,190.36. Following the transaction, the executive vice president now owns 10,530 shares in the company, valued at $854,930.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brian X. Tierney sold 18,573 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $101.55, for a total value of $1,886,088.15. Following the completion of the transaction, the chief financial officer now owns 45,162 shares in the company, valued at approximately $4,586,201.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 127,067 shares of company stock worth $12,434,814. Insiders own 0.16% of the company’s stock.
AEP has been the subject of a number of recent analyst reports. BMO Capital Markets initiated coverage on American Electric Power in a research report on Wednesday, February 19th. They issued an “outperform” rating and a $111.00 price objective for the company. SunTrust Banks lifted their price objective on American Electric Power from $109.00 to $111.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Goldman Sachs Group boosted their price target on American Electric Power from $90.00 to $99.00 and gave the company a “hold” rating in a research report on Thursday, February 20th. Bank of America downgraded American Electric Power from a “buy” rating to a “neutral” rating and set a $80.00 price target for the company. in a research report on Friday, May 15th. Finally, KeyCorp raised American Electric Power from a “sector weight” rating to an “overweight” rating and set a $93.00 price target for the company in a research report on Friday, March 13th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company’s stock. American Electric Power has an average rating of “Buy” and a consensus target price of $95.17.
Shares of AEP opened at $78.78 on Friday. The stock’s 50-day moving average is $81.08 and its two-hundred day moving average is $90.53. The stock has a market cap of $38.34 billion, a PE ratio of 21.12, a P/E/G ratio of 3.19 and a beta of 0.38. American Electric Power Company Inc has a 12 month low of $65.14 and a 12 month high of $104.97. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.45 and a quick ratio of 0.35.
American Electric Power (NYSE:AEP) last issued its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.02 EPS for the quarter, missing the Zacks’ consensus estimate of $1.09 by ($0.07). The company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $4.26 billion. American Electric Power had a return on equity of 10.15% and a net margin of 12.08%. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.19 EPS. On average, research analysts anticipate that American Electric Power Company Inc will post 4.26 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 8th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.55%. The ex-dividend date is Thursday, May 7th. American Electric Power’s dividend payout ratio (DPR) is 66.04%.
American Electric Power Profile
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.
Read More: What is a Tariff?
Want to see what other hedge funds are holding AEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Electric Power Company Inc (NYSE:AEP).
Receive News & Ratings for American Electric Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Electric Power and related companies with MarketBeat.com's FREE daily email newsletter.