Argent Trust Co raised its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 28.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,462 shares of the company’s stock after acquiring an additional 13,318 shares during the quarter. Argent Trust Co’s holdings in American Electric Power were worth $5,037,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of AEP. MV Capital Management Inc. raised its holdings in shares of American Electric Power by 200.0% during the 4th quarter. MV Capital Management Inc. now owns 300 shares of the company’s stock worth $25,000 after acquiring an additional 200 shares in the last quarter. Greenhouse Wealth Management LLC purchased a new stake in shares of American Electric Power during the 4th quarter valued at about $25,000. Canton Hathaway LLC purchased a new position in American Electric Power in the first quarter worth about $25,000. Catalyst Capital Advisors LLC purchased a new position in shares of American Electric Power in the 4th quarter worth approximately $29,000. Finally, AGF Investments LLC purchased a new position in shares of American Electric Power in the 4th quarter worth approximately $30,000. 73.96% of the stock is currently owned by institutional investors and hedge funds.
American Electric Power stock traded up $0.02 during mid-day trading on Friday, reaching $84.75. 43,990 shares of the company were exchanged, compared to its average volume of 3,035,422. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.29 and a current ratio of 0.42. The firm has a market cap of $42.35 billion, a price-to-earnings ratio of 18.42, a P/E/G ratio of 3.11 and a beta of 0.26. The firm’s fifty day moving average is $86.70. American Electric Power Company, Inc. has a 12-month low of $74.80 and a 12-month high of $94.21.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 10th. Stockholders of record on Monday, May 10th were given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend was Friday, May 7th. American Electric Power’s payout ratio is presently 66.67%.
A number of brokerages recently issued reports on AEP. Mizuho raised their price target on American Electric Power from $83.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday, April 15th. Edward Jones began coverage on American Electric Power in a research note on Wednesday, March 10th. They set a “buy” rating on the stock. Barclays raised their price target on American Electric Power from $95.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 25th. Finally, Morgan Stanley dropped their price objective on American Electric Power from $104.00 to $103.00 and set an “overweight” rating for the company in a report on Tuesday, May 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $94.75.
In related news, EVP Charles R. Patton sold 1,507 shares of American Electric Power stock in a transaction that occurred on Tuesday, May 4th. The shares were sold at an average price of $88.39, for a total value of $133,203.73. Following the completion of the sale, 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 can be accessed through the SEC website. Also, EVP Charles R. Patton sold 14,791 shares of the business’s stock in a transaction that occurred on Tuesday, March 23rd. The stock was sold at an average price of $85.00, for a total transaction of $1,257,235.00. Following the sale, the executive vice president now directly owns 29,367 shares in the company, valued at approximately $2,496,195. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,293 shares of company stock valued at $3,592,418. Company insiders own 0.14% of the company’s stock.
American Electric Power Company 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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