RDA Financial Network Invests $260,000 in American Electric Power Company, Inc. (NASDAQ:AEP)

RDA Financial Network purchased a new position in American Electric Power Company, Inc. (NASDAQ:AEPGet Rating) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,606 shares of the company’s stock, valued at approximately $260,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of American Electric Power by 4.8% in the 4th quarter. BlackRock Inc. now owns 41,461,321 shares of the company’s stock worth $3,688,814,000 after purchasing an additional 1,910,807 shares during the last quarter. State Street Corp raised its position in shares of American Electric Power by 1.4% in the 4th quarter. State Street Corp now owns 25,520,932 shares of the company’s stock worth $2,270,597,000 after purchasing an additional 340,301 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in American Electric Power by 4.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,371,442 shares of the company’s stock worth $922,747,000 after buying an additional 396,083 shares in the last quarter. Geode Capital Management LLC increased its holdings in American Electric Power by 6.5% in the 4th quarter. Geode Capital Management LLC now owns 8,498,401 shares of the company’s stock worth $753,951,000 after buying an additional 519,399 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in American Electric Power by 11.0% in the 4th quarter. Invesco Ltd. now owns 8,188,478 shares of the company’s stock worth $728,529,000 after buying an additional 811,843 shares in the last quarter. 73.26% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently commented on AEP. Mizuho lifted their price objective on American Electric Power from $94.00 to $104.00 and gave the stock a “buy” rating in a report on Tuesday, March 29th. Morgan Stanley reduced their price objective on American Electric Power from $117.00 to $113.00 and set an “overweight” rating for the company in a report on Monday, May 23rd. Credit Suisse Group began coverage on American Electric Power in a report on Monday, April 25th. They issued an “outperform” rating and a $113.00 price objective for the company. Royal Bank of Canada lifted their price objective on American Electric Power from $101.00 to $106.00 and gave the stock an “outperform” rating in a report on Monday, March 7th. Finally, Wells Fargo & Company upgraded American Electric Power from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $93.00 to $101.00 in a research note on Monday, February 28th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $103.98.

AEP stock opened at $90.31 on Thursday. American Electric Power Company, Inc. has a twelve month low of $80.22 and a twelve month high of $104.81. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.28. The stock has a market cap of $46.38 billion, a P/E ratio of 17.27, a PEG ratio of 2.90 and a beta of 0.34. The business’s 50-day moving average price is $99.02 and its 200-day moving average price is $94.36.

American Electric Power (NASDAQ:AEPGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.03. American Electric Power had a return on equity of 10.65% and a net margin of 15.34%. The company had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.37 billion. During the same period in the previous year, the firm earned $1.15 EPS. The firm’s revenue was up 7.0% compared to the same quarter last year. On average, equities research analysts expect that American Electric Power Company, Inc. will post 5.01 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Tuesday, May 10th were issued a dividend of $0.78 per share. The ex-dividend date was Monday, May 9th. This represents a $3.12 annualized dividend and a dividend yield of 3.45%. American Electric Power’s dividend payout ratio (DPR) is 59.66%.

In other news, EVP Charles E. Zebula sold 1,902 shares of the business’s stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $99.05, for a total transaction of $188,393.10. Following the transaction, the executive vice president now owns 18,134 shares of the company’s stock, valued at approximately $1,796,172.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Greg B. Hall sold 759 shares of the business’s stock in a transaction that occurred on Thursday, May 5th. The shares were sold at an average price of $100.15, for a total value of $76,013.85. Following the transaction, the executive vice president now directly owns 3,903 shares in the company, valued at approximately $390,885.45. The disclosure for this sale can be found here. Insiders have sold a total of 23,995 shares of company stock worth $2,412,657 over the last ninety days. Insiders own 0.12% of the company’s stock.

About American Electric Power (Get Rating)

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.

See Also

Institutional Ownership by Quarter for American Electric Power (NASDAQ:AEP)

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