PDS Planning Inc Boosts Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

PDS Planning Inc increased its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 3.6% in the first quarter, Holdings Channel reports. The institutional investor owned 7,998 shares of the company’s stock after acquiring an additional 281 shares during the quarter. PDS Planning Inc’s holdings in American Electric Power were worth $874,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Skandinaviska Enskilda Banken AB publ bought a new position in American Electric Power during the fourth quarter worth $25,000. EQ Wealth Advisors LLC bought a new stake in shares of American Electric Power in the 1st quarter worth approximately $25,000. Fourth Dimension Wealth LLC bought a new stake in American Electric Power in the 4th quarter valued at about $28,000. Bank of New Hampshire acquired a new stake in shares of American Electric Power in the first quarter valued at approximately $28,000. Finally, Fairway Wealth LLC acquired a new position in shares of American Electric Power during the fourth quarter valued at $32,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AEP. Barclays boosted their price target on shares of American Electric Power from $95.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 22nd. Wells Fargo & Company increased their price objective 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. UBS Group increased their price target on American Electric Power from $95.00 to $100.00 and gave the company a “sell” rating in a report on Friday, June 6th. Bank of America increased their target price on American Electric Power from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. Finally, Citigroup increased their price target on shares of American Electric Power from $102.00 to $109.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $108.31.

Insider Activity

In other news, EVP Quinton S. Lies sold 10,141 shares of the company’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 value of $1,041,277.88. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP David Matthew Feinberg sold 8,058 shares of the company’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total value of $819,820.92. Following the transaction, the executive vice president now directly owns 10,274 shares in the company, valued at $1,045,276.76. This represents a 43.96% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 34,314 shares of company stock worth $3,508,293. 0.07% of the stock is currently owned by company insiders.

American Electric Power Stock Down 1.8%

AEP stock opened at $101.41 on Thursday. The stock has a market capitalization of $54.17 billion, a P/E ratio of 19.54, a P/E/G ratio of 2.74 and a beta of 0.42. The business has a 50-day moving average of $103.83 and a 200-day moving average of $101.33. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.42 and a quick ratio of 0.31. American Electric Power Company, Inc. has a fifty-two week low of $85.93 and a fifty-two week 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, topping analysts’ consensus estimates of $1.40 by $0.14. American Electric Power had a return on equity of 11.68% and a net margin of 13.73%. The company had revenue of $5.46 billion for the quarter, compared to analysts’ expectations of $5.33 billion. During the same quarter in the prior year, the business posted $1.27 EPS. The business’s revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a dividend of $0.93 per share. The ex-dividend date was Friday, May 9th. This represents a $3.72 annualized dividend and a dividend yield of 3.67%. American Electric Power’s dividend payout ratio is presently 71.68%.

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.