Investors Research Corp lifted its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 8,578.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,675 shares of the company’s stock after acquiring an additional 10,552 shares during the quarter. Investors Research Corp’s holdings in American Electric Power were worth $904,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in AEP. IHT Wealth Management LLC lifted its holdings in shares of American Electric Power by 13.5% in the 3rd quarter. IHT Wealth Management LLC now owns 3,074 shares of the company’s stock worth $251,000 after acquiring an additional 366 shares during the last quarter. Paces Ferry Wealth Advisors LLC purchased a new position in American Electric Power in the 3rd quarter worth about $38,000. Brinker Capital Investments LLC purchased a new position in American Electric Power in the 3rd quarter worth about $253,000. Strs Ohio increased its stake in American Electric Power by 2.7% in the 3rd quarter. Strs Ohio now owns 450,359 shares of the company’s stock worth $36,807,000 after buying an additional 11,975 shares during the period. Finally, Burney Co. purchased a new position in American Electric Power in the 3rd quarter worth about $202,000. Hedge funds and other institutional investors own 75.01% of the company’s stock.
AEP stock traded down $0.28 during trading on Tuesday, reaching $88.40. The company had a trading volume of 39,605 shares, compared to its average volume of 3,075,450. The firm has a 50-day simple moving average of $86.09 and a 200-day simple moving average of $82.67. The company has a market cap of $44.18 billion, a price-to-earnings ratio of 22.91, a price-to-earnings-growth ratio of 3.00 and a beta of 0.22. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.34 and a current ratio of 0.48. American Electric Power Company, Inc. has a twelve month low of $74.80 and a twelve month high of $94.21.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 10th. Shareholders of record on Monday, May 10th will be paid a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Friday, May 7th. American Electric Power’s payout ratio is 69.81%.
AEP has been the topic of several recent analyst reports. Mizuho raised their price target on shares of American Electric Power from $83.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, April 21st. Wells Fargo & Company downgraded shares of American Electric Power from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $101.00 to $88.00 in a research note on Wednesday, January 6th. Edward Jones initiated coverage on shares of American Electric Power in a research report on Tuesday, March 16th. They set a “buy” rating on the stock. Morgan Stanley raised their target price on shares of American Electric Power from $99.00 to $104.00 and gave the company an “overweight” rating in a research report on Monday, April 26th. Finally, Guggenheim raised shares of American Electric Power from a “neutral” rating to a “buy” rating and set a $93.00 target price on the stock in a research report on Wednesday, January 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. American Electric Power currently has an average rating of “Buy” and a consensus target price of $93.18.
In other news, EVP David Matthew Feinberg sold 11,951 shares of American Electric Power stock in a transaction that occurred on Monday, March 1st. The shares were sold at an average price of $75.42, for a total transaction of $901,344.42. Following the completion of the transaction, the executive vice president now directly owns 13,325 shares of the company’s stock, valued at approximately $1,004,971.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director J Barnie Beasley sold 2,048 shares of American Electric Power stock in a transaction that occurred on Monday, March 1st. The shares were sold at an average price of $76.71, for a total transaction of $157,102.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 118,935 shares of company stock valued at $9,204,606. Company insiders own 0.16% of the company’s stock.
American Electric Power Profile
American Electric Power Co, Inc engages in the business of generation, transmission and distribution of electricity. It operates through the following segments: Vertically Integrated Utilities, Transmission & Distribution Utilities, AEP Transmission Holdco and Generation & Marketing. The Vertically Integrated Utilities segment engages in the generation, transmission and distribution of electricity for sale to retail and wholesale customers through assets owned and operated by its subsidiaries.
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