American Electric Power Company Inc (NYSE:AEP) EVP Paul Chodak III sold 1,303 shares of American Electric Power stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $86.52, for a total value of $112,735.56. Following the completion of the transaction, the executive vice president now directly owns 8,152 shares of the company’s stock, valued at $705,311.04. The transaction was disclosed in a document filed with the SEC, which is available at this link.
American Electric Power stock traded up $0.15 during midday trading on Friday, reaching $88.33. The stock had a trading volume of 117,896 shares, compared to its average volume of 2,186,327. American Electric Power Company Inc has a 12 month low of $62.71 and a 12 month high of $87.37. The firm has a market capitalization of $42.72 billion, a price-to-earnings ratio of 22.38, a PEG ratio of 3.72 and a beta of 0.17. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.49 and a quick ratio of 0.37.
American Electric Power (NYSE:AEP) last issued its earnings results on Thursday, April 25th. The utilities provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.09. American Electric Power had a return on equity of 10.81% and a net margin of 12.64%. The business had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.23 billion. During the same period in the previous year, the company posted $0.96 EPS. The firm’s revenue was up 2.5% compared to the same quarter last year. On average, sell-side analysts expect that American Electric Power Company Inc will post 4.12 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Thursday, May 9th. American Electric Power’s payout ratio is 67.85%.
Several research analysts have recently weighed in on AEP shares. Zacks Investment Research raised American Electric Power from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Monday, March 18th. UBS Group lifted their price objective on American Electric Power from $89.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Wolfe Research set a $89.00 price objective on American Electric Power and gave the stock a “buy” rating in a research report on Friday, April 26th. Morgan Stanley lifted their price objective on American Electric Power from $87.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 16th. Finally, JPMorgan Chase & Co. set a $78.00 price objective on American Electric Power and gave the stock a “hold” rating in a research report on Friday, January 25th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. American Electric Power presently has an average rating of “Buy” and an average price target of $81.63.
A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc increased its holdings in American Electric Power by 1.6% during the 3rd quarter. Vanguard Group Inc now owns 37,558,524 shares of the utilities provider’s stock worth $2,662,148,000 after purchasing an additional 584,608 shares in the last quarter. BlackRock Inc. increased its holdings in American Electric Power by 3.9% during the 4th quarter. BlackRock Inc. now owns 36,683,081 shares of the utilities provider’s stock worth $2,741,691,000 after purchasing an additional 1,381,916 shares in the last quarter. Geode Capital Management LLC increased its holdings in American Electric Power by 7.5% during the 1st quarter. Geode Capital Management LLC now owns 6,386,755 shares of the utilities provider’s stock worth $533,886,000 after purchasing an additional 444,498 shares in the last quarter. Northern Trust Corp increased its holdings in American Electric Power by 4.2% during the 4th quarter. Northern Trust Corp now owns 5,951,102 shares of the utilities provider’s stock worth $444,784,000 after purchasing an additional 241,872 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in American Electric Power by 1.4% during the 4th quarter. Jennison Associates LLC now owns 4,597,759 shares of the utilities provider’s stock worth $343,637,000 after purchasing an additional 63,019 shares in the last quarter. 72.63% of the stock is owned by institutional investors and hedge funds.
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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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