Fulton Breakefield Broenniman LLC Acquires 300 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Fulton Breakefield Broenniman LLC increased its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 6.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 5,067 shares of the company’s stock after purchasing an additional 300 shares during the quarter. Fulton Breakefield Broenniman LLC’s holdings in American Electric Power were worth $554,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in AEP. Vanguard Group Inc. raised its holdings in American Electric Power by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 51,690,606 shares of the company’s stock valued at $4,767,425,000 after acquiring an additional 763,813 shares in the last quarter. GQG Partners LLC grew its position in American Electric Power by 3.7% during the 4th quarter. GQG Partners LLC now owns 15,060,525 shares of the company’s stock worth $1,389,032,000 after acquiring an additional 543,054 shares during the last quarter. Geode Capital Management LLC grew its position in American Electric Power by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 12,808,003 shares of the company’s stock worth $1,178,174,000 after acquiring an additional 283,311 shares during the last quarter. Invesco Ltd. grew its position in shares of American Electric Power by 9.1% in the 4th quarter. Invesco Ltd. now owns 8,603,600 shares of the company’s stock valued at $793,510,000 after buying an additional 716,229 shares during the last quarter. Finally, Royal Bank of Canada grew its position in shares of American Electric Power by 1.2% in the 4th quarter. Royal Bank of Canada now owns 7,047,428 shares of the company’s stock valued at $649,983,000 after buying an additional 85,756 shares during the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Trading Down 0.7%

Shares of AEP stock opened at $105.34 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.31 and a current ratio of 0.42. American Electric Power Company, Inc. has a 52-week low of $89.84 and a 52-week high of $110.48. The company has a market capitalization of $56.27 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 2.80 and a beta of 0.42. The business’s fifty day moving average is $103.00 and its 200 day moving average is $102.32.

American Electric Power (NASDAQ:AEP) last released its quarterly 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. American Electric Power had a return on equity of 11.68% and a net margin of 13.73%. The business had revenue of $5.46 billion for the quarter, compared to the consensus estimate of $5.33 billion. During the same quarter last year, the business posted $1.27 earnings per share. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities research analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a $0.93 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $3.72 annualized dividend and a dividend yield of 3.53%. American Electric Power’s dividend payout ratio is currently 71.68%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Barclays upped their target price on American Electric Power from $95.00 to $106.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 22nd. Citigroup increased their price objective 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. BMO Capital Markets upped their target price on American Electric Power from $111.00 to $115.00 and gave the company an “outperform” rating in a report on Monday, April 21st. Raymond James Financial initiated coverage on American Electric Power in a report on Friday, June 13th. They set an “outperform” rating and a $115.00 price objective for the company. Finally, Guggenheim increased their price objective on American Electric Power from $109.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, American Electric Power currently has a consensus rating of “Hold” and an average price target of $108.31.

Insider Activity

In other news, EVP David Matthew Feinberg sold 8,058 shares of American Electric Power stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $101.74, for a total value of $819,820.92. Following the transaction, the executive vice president owned 10,274 shares in the company, valued at approximately $1,045,276.76. The trade was a 43.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Quinton S. Lies sold 10,141 shares of the business’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $102.68, for a total value of $1,041,277.88. Following the transaction, the executive vice president owned 9,658 shares in the company, valued at approximately $991,683.44. This represents a 51.22% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,314 shares of company stock worth $3,508,293. Company 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.