Centaurus Financial Inc. Acquires 358 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Centaurus Financial Inc. grew its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 14.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,904 shares of the company’s stock after acquiring an additional 358 shares during the quarter. Centaurus Financial Inc.’s holdings in American Electric Power were worth $246,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Carnegie Capital Asset Management LLC lifted its position in American Electric Power by 2.6% during the first quarter. Carnegie Capital Asset Management LLC now owns 5,034 shares of the company’s stock worth $426,000 after purchasing an additional 126 shares during the period. Stock Yards Bank & Trust Co. raised its stake in American Electric Power by 4.9% during the first quarter. Stock Yards Bank & Trust Co. now owns 2,831 shares of the company’s stock worth $240,000 after acquiring an additional 133 shares in the last quarter. 4J Wealth Management LLC raised its stake in American Electric Power by 5.3% during the first quarter. 4J Wealth Management LLC now owns 2,677 shares of the company’s stock worth $227,000 after acquiring an additional 134 shares in the last quarter. Richard P Slaughter Associates Inc raised its stake in American Electric Power by 1.1% during the fourth quarter. Richard P Slaughter Associates Inc now owns 11,935 shares of the company’s stock worth $993,000 after acquiring an additional 135 shares in the last quarter. Finally, Asset Dedication LLC raised its stake in American Electric Power by 34.2% during the fourth quarter. Asset Dedication LLC now owns 534 shares of the company’s stock worth $43,000 after acquiring an additional 136 shares in the last quarter. 75.01% of the stock is owned by institutional investors.

Several brokerages have commented on AEP. Morgan Stanley boosted their target price on American Electric Power from $99.00 to $104.00 and gave the stock an “overweight” rating in a research note on Monday, April 26th. The Goldman Sachs Group downgraded American Electric Power from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $90.00 to $83.00 in a research note on Thursday, January 14th. Guggenheim raised American Electric Power from a “neutral” rating to a “buy” rating and set a $93.00 price objective for the company in a research note on Wednesday, January 20th. Edward Jones began coverage on American Electric Power in a research note on Tuesday, March 16th. They issued a “buy” rating for the company. Finally, Mizuho upped their price objective on American Electric Power from $83.00 to $91.00 and gave the company a “buy” rating in a research note on Wednesday, April 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $93.18.

In other American Electric Power news, EVP Charles R. Patton sold 1,507 shares of the stock in a transaction that occurred on Tuesday, May 4th. The stock was sold at an average price of $88.39, for a total transaction of $133,203.73. Following the transaction, the executive vice president now directly owns 26,605 shares in the company, valued at approximately $2,351,615.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Nicholas K. Akins sold 66,483 shares of the stock in a transaction on Friday, February 26th. The stock was sold at an average price of $76.24, for a total value of $5,068,663.92. Following the completion of the transaction, the chief executive officer now owns 187,288 shares in the company, valued at $14,278,837.12. The disclosure for this sale can be found here. Insiders have sold a total of 143,337 shares of company stock worth $11,361,498 over the last 90 days. Company insiders own 0.16% of the company’s stock.

Shares of AEP stock opened at $84.98 on Thursday. The business’s 50 day simple moving average is $86.93 and its 200 day simple moving average is $82.78. American Electric Power Company, Inc. has a one year low of $74.80 and a one year high of $94.21. The stock has a market capitalization of $42.47 billion, a PE ratio of 21.96, a PEG ratio of 3.00 and a beta of 0.22. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.48 and a quick ratio of 0.34.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Wednesday, April 21st. The company reported $1.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.17 by ($0.02). The company had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.54 billion. American Electric Power had a net margin of 12.82% and a return on equity of 10.19%. The business’s revenue was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.02 earnings per share. As a group, research analysts expect that American Electric Power Company, Inc. will post 4.33 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 10th. Shareholders of record on Monday, May 10th will be issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Friday, May 7th. American Electric Power’s payout ratio is 69.81%.

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. 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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