Balanced Wealth Group LLC Purchases New Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Balanced Wealth Group LLC purchased a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,949 shares of the company’s stock, valued at approximately $213,000.

Several other institutional investors and hedge funds have also bought and sold shares of AEP. Skandinaviska Enskilda Banken AB publ bought a new position in shares of American Electric Power during the fourth quarter valued at approximately $25,000. Fourth Dimension Wealth LLC purchased a new position in American Electric Power during the 4th quarter valued at $28,000. Bank of New Hampshire bought a new position in American Electric Power in the 1st quarter worth $28,000. Fairway Wealth LLC bought a new position in American Electric Power in the 4th quarter worth $32,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of American Electric Power during the fourth quarter valued at about $35,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on AEP. Guggenheim raised their price objective on shares of American Electric Power from $109.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Citigroup raised their target price on American Electric Power from $102.00 to $109.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. Bank of America lifted their price target on American Electric Power from $108.00 to $114.00 and gave the company a “buy” rating in a research report on Tuesday, March 18th. Morgan Stanley reduced their price target on American Electric Power from $114.00 to $113.00 and set an “overweight” rating on the stock in a research note on Thursday, May 22nd. Finally, Wells Fargo & Company raised their price objective on American Electric Power from $107.00 to $114.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $107.75.

American Electric Power Trading Up 0.1%

NASDAQ AEP opened at $101.94 on Thursday. American Electric Power Company, Inc. has a 12 month low of $85.93 and a 12 month high of $110.48. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46. The stock’s fifty day moving average price is $104.11 and its 200-day moving average price is $101.06. The stock has a market cap of $54.46 billion, a P/E ratio of 18.20, a P/E/G ratio of 2.97 and a beta of 0.42.

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

American Electric Power Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a dividend of $0.93 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $3.72 annualized dividend and a yield of 3.65%. American Electric Power’s dividend payout ratio is 71.68%.

Insider Buying and Selling at American Electric Power

In other news, EVP David Matthew Feinberg sold 8,058 shares of the business’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $101.49, for a total transaction of $817,806.42. Following the completion of the transaction, the executive vice president now directly owns 18,332 shares of the company’s stock, valued at $1,860,514.68. The trade was a 30.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Quinton S. Lies sold 10,141 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were 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 owns 9,658 shares in the company, valued at approximately $991,683.44. This trade represents a 51.22% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,256 shares of company stock worth $2,688,472. Insiders own 0.07% of the company’s stock.

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.