Davis Investment Partners LLC Buys New Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Davis Investment Partners LLC purchased a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) during the first quarter, HoldingsChannel reports. The institutional investor purchased 5,027 shares of the company’s stock, valued at approximately $536,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of New Hampshire purchased a new stake in American Electric Power during the 1st quarter worth $28,000. Skandinaviska Enskilda Banken AB publ bought a new position in American Electric Power during the 4th quarter worth approximately $25,000. Fourth Dimension Wealth LLC acquired a new position in American Electric Power in the fourth quarter worth $28,000. Fairway Wealth LLC bought a new position in shares of American Electric Power in the 4th quarter worth about $32,000. Finally, Kestra Investment Management LLC acquired a new position in American Electric Power in the fourth quarter valued at approximately $35,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP David Matthew Feinberg sold 8,058 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $101.49, for a total value of $817,806.42. Following the transaction, the executive vice president now owns 18,332 shares in the company, valued at approximately $1,860,514.68. This represents a 30.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 directly owns 9,658 shares of the company’s stock, valued at $991,683.44. This represents a 51.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,256 shares of company stock worth $2,688,472 in the last quarter. 0.07% of the stock is currently owned by corporate insiders.

American Electric Power Stock Up 0.1%

NASDAQ:AEP opened at $101.94 on Thursday. The business’s fifty day moving average price is $104.11 and its 200 day moving average price is $101.06. The firm has a market capitalization of $54.46 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 2.97 and a beta of 0.42. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46. 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 issued its earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.14. The company had revenue of $5.46 billion for the quarter, compared to the consensus estimate of $5.33 billion. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.27 EPS. On average, sell-side analysts forecast 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 was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a $0.93 dividend. 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 presently 71.68%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AEP shares. BMO Capital Markets boosted their price target on shares of American Electric Power from $111.00 to $115.00 and gave the company an “outperform” rating in a report on Monday, April 21st. Guggenheim increased their price target on American Electric Power from $109.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Morgan Stanley lowered their price objective on shares of 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. Bank of America boosted their target price on American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. Finally, Citigroup lifted their price target on American Electric Power from $102.00 to $109.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $107.75.

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.