AdvisorNet Financial Inc Raises Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

AdvisorNet Financial Inc grew its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 7.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,961 shares of the company’s stock after acquiring an additional 265 shares during the quarter. AdvisorNet Financial Inc’s holdings in American Electric Power were worth $433,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Town & Country Bank & Trust CO dba First Bankers Trust CO purchased a new stake in American Electric Power during the first quarter valued at approximately $337,000. Nexus Investment Management ULC raised its holdings in American Electric Power by 0.4% during the 1st quarter. Nexus Investment Management ULC now owns 396,492 shares of the company’s stock valued at $43,325,000 after buying an additional 1,417 shares during the period. Quent Capital LLC lifted its position in American Electric Power by 5.7% in the first quarter. Quent Capital LLC now owns 2,451 shares of the company’s stock worth $268,000 after buying an additional 133 shares during the last quarter. Moody National Bank Trust Division boosted its stake in American Electric Power by 3.4% during the first quarter. Moody National Bank Trust Division now owns 11,872 shares of the company’s stock worth $1,297,000 after buying an additional 395 shares during the period. Finally, Agate Pass Investment Management LLC boosted its stake in American Electric Power by 64.9% during the first quarter. Agate Pass Investment Management LLC now owns 7,760 shares of the company’s stock worth $848,000 after buying an additional 3,055 shares during the period. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Up 0.6%

American Electric Power stock opened at $103.15 on Monday. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. The firm has a market cap of $55.10 billion, a P/E ratio of 18.42, a P/E/G ratio of 2.97 and a beta of 0.45. The business has a fifty day moving average of $104.88 and a two-hundred day moving average of $100.83. American Electric Power Company, Inc. has a twelve month low of $85.93 and a twelve month high of $110.48.

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

American Electric Power Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend is Friday, May 9th. American Electric Power’s payout ratio is 71.68%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AEP. Citigroup increased their target price on shares of American Electric Power from $102.00 to $109.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. Wells Fargo & Company increased their price objective on shares of American Electric Power from $107.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 7th. Morgan Stanley decreased their price objective on shares of American Electric Power from $114.00 to $113.00 and set an “overweight” rating for the company in a research note on Thursday, May 22nd. BMO Capital Markets boosted their target price on American Electric Power from $111.00 to $115.00 and gave the company an “outperform” rating in a research report on Monday, April 21st. Finally, Bank of America increased their price target on American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, American Electric Power has a consensus rating of “Hold” and a consensus target price of $105.69.

Insider Activity

In other news, EVP Quinton S. Lies sold 10,141 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 9,658 shares of the company’s stock, valued at approximately $991,683.44. This represents a 51.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.07% 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.