American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by First Hawaiian Bank

First Hawaiian Bank cut its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 9.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,172 shares of the company’s stock after selling 1,999 shares during the quarter. First Hawaiian Bank’s holdings in American Electric Power were worth $1,986,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of AEP. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of American Electric Power in the 4th quarter worth $25,000. Fourth Dimension Wealth LLC acquired a new stake in shares of American Electric Power in the 4th quarter worth $28,000. Fairway Wealth LLC acquired a new stake in shares of American Electric Power in the 4th quarter worth $32,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of American Electric Power in the 4th quarter worth $35,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of American Electric Power in the 4th quarter worth $35,000. 75.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Bank of America raised their target price on American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday, March 18th. Morgan Stanley lowered their price target on American Electric Power from $114.00 to $113.00 and set an “overweight” rating for the company in a report on Thursday, May 22nd. Guggenheim increased their price target on American Electric Power from $109.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Wells Fargo & Company increased their price target on American Electric Power from $107.00 to $114.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 7th. Finally, Citigroup increased their price target on American Electric Power from $102.00 to $109.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, American Electric Power has an average rating of “Hold” and a consensus price target of $105.69.

Insider Activity

In related news, EVP Quinton S. Lies sold 10,141 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $102.68, for a total transaction of $1,041,277.88. Following the completion of the sale, the executive vice president now owns 9,658 shares in the company, valued at $991,683.44. The trade was a 51.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.07% of the company’s stock.

American Electric Power Stock Performance

Shares of AEP opened at $102.53 on Friday. The stock has a 50-day simple moving average of $104.87 and a 200-day simple moving average of $100.66. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44. The stock has a market capitalization of $54.77 billion, a PE ratio of 18.31, a PEG ratio of 2.97 and a beta of 0.45. American Electric Power Company, Inc. has a 1 year low of $85.93 and a 1 year high of $110.48.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.14. The business had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.33 billion. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.27 EPS. On average, analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.63%. The ex-dividend date is Friday, May 9th. American Electric Power’s payout ratio is presently 71.68%.

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.