AdvisorNet Financial Inc increased its stake in shares of American Electric Power Company Inc (NYSE:AEP) by 13.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,733 shares of the utilities provider’s stock after buying an additional 199 shares during the quarter. AdvisorNet Financial Inc’s holdings in American Electric Power were worth $153,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Sageworth Trust Co grew its holdings in American Electric Power by 1,026.9% during the first quarter. Sageworth Trust Co now owns 293 shares of the utilities provider’s stock worth $25,000 after buying an additional 267 shares in the last quarter. Legacy Advisors LLC bought a new stake in American Electric Power during the first quarter worth $25,000. Truvestments Capital LLC bought a new stake in American Electric Power during the first quarter worth $28,000. Weaver Consulting Group bought a new stake in American Electric Power during the first quarter worth $32,000. Finally, Glassman Wealth Services grew its holdings in American Electric Power by 138.0% during the first quarter. Glassman Wealth Services now owns 388 shares of the utilities provider’s stock worth $32,000 after buying an additional 225 shares in the last quarter. Institutional investors and hedge funds own 73.53% of the company’s stock.
In other news, CEO Nicholas K. Akins sold 11,152 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $84.94, for a total transaction of $947,250.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Lisa M. Barton sold 1,752 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $89.41, for a total value of $156,646.32. Following the transaction, the insider now directly owns 34,460 shares in the company, valued at approximately $3,081,068.60. The disclosure for this sale can be found here. Insiders have sold a total of 24,637 shares of company stock worth $2,112,145 in the last ninety days. Insiders own 0.16% of the company’s stock.
AEP stock traded down $0.94 during midday trading on Thursday, hitting $88.67. The company’s stock had a trading volume of 78,031 shares, compared to its average volume of 1,813,075. The company’s 50-day moving average is $89.96. The company has a current ratio of 0.49, a quick ratio of 0.37 and a debt-to-equity ratio of 1.19. American Electric Power Company Inc has a 1 year low of $68.50 and a 1 year high of $91.99. The stock has a market cap of $44.15 billion, a PE ratio of 22.44, a price-to-earnings-growth ratio of 3.81 and a beta of 0.16.
American Electric Power (NYSE:AEP) last posted its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.02. American Electric Power had a return on equity of 10.81% and a net margin of 12.64%. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same quarter in the previous year, the firm earned $1.01 earnings per share. The business’s revenue was down 10.0% on a year-over-year basis. Research analysts expect that American Electric Power Company Inc will post 4.14 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be given a dividend of $0.67 per share. The ex-dividend date is Thursday, August 8th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.02%. American Electric Power’s dividend payout ratio is presently 67.85%.
AEP has been the subject of several recent research reports. Bank of America reiterated a “buy” rating and set a $43.00 price target (up previously from $36.00) on shares of The Medicines in a report on Tuesday, July 9th. UBS Group reiterated a “buy” rating on shares of Linde in a report on Friday, July 12th. Morgan Stanley set a $18.00 price target on PG&E and gave the stock a “hold” rating in a report on Friday, June 14th. Zacks Investment Research raised General Moly from a “sell” rating to a “hold” rating in a research report on Thursday, July 11th. Finally, Wells Fargo & Co set a $95.00 price objective on Westinghouse Air Brake Technologies and gave the stock a “buy” rating in a research report on Friday, April 26th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $86.83.
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.
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