Empowered Funds LLC Has $2.90 Million Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)
Empowered Funds LLC boosted its stake in American Electric Power Company, Inc. (NASDAQ:AEP – Free Report) by 47.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,687 shares of the company’s stock after purchasing an additional 10,868 shares during the quarter. Empowered Funds LLC’s holdings in American Electric Power were worth $2,900,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Quantbot Technologies LP acquired a new stake in shares of American Electric Power in the 1st quarter valued at $1,731,000. Envestnet Portfolio Solutions Inc. boosted its stake in American Electric Power by 6.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 65,703 shares of the company’s stock valued at $5,657,000 after buying an additional 3,845 shares in the last quarter. Empirical Finance LLC grew its position in American Electric Power by 3.6% in the first quarter. Empirical Finance LLC now owns 18,420 shares of the company’s stock valued at $1,586,000 after acquiring an additional 641 shares during the last quarter. Duality Advisers LP acquired a new position in American Electric Power during the first quarter worth about $6,484,000. Finally, Mawer Investment Management Ltd. lifted its holdings in shares of American Electric Power by 16.8% in the first quarter. Mawer Investment Management Ltd. now owns 863,265 shares of the company’s stock worth $74,327,000 after acquiring an additional 124,430 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.
American Electric Power Stock Up 0.1 %
American Electric Power stock opened at $90.96 on Friday. The firm has a 50 day moving average price of $89.11 and a two-hundred day moving average price of $84.64. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.37 and a current ratio of 0.54. American Electric Power Company, Inc. has a 52-week low of $69.38 and a 52-week high of $93.44. The firm has a market cap of $47.95 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 2.69 and a beta of 0.53.
American Electric Power (NASDAQ:AEP – Get Free Report) last released its earnings results on Tuesday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.02. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. The business had revenue of $5 billion for the quarter, compared to analyst estimates of $5.02 billion. During the same quarter in the previous year, the business earned $1.11 earnings per share. American Electric Power’s revenue for the quarter was up 6.4% on a year-over-year basis. Equities analysts predict that American Electric Power Company, Inc. will post 5.58 EPS for the current year.
American Electric Power Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were issued a $0.88 dividend. The ex-dividend date was Thursday, May 9th. This represents a $3.52 dividend on an annualized basis and a yield of 3.87%. American Electric Power’s payout ratio is currently 65.31%.
Insider Buying and Selling at American Electric Power
In other news, EVP Greg B. Hall sold 5,880 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $88.25, for a total transaction of $518,910.00. Following the completion of the sale, the executive vice president now owns 6,385 shares of the company’s stock, valued at approximately $563,476.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Greg B. Hall sold 5,880 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $88.25, for a total value of $518,910.00. Following the completion of the sale, the executive vice president now directly owns 6,385 shares in the company, valued at approximately $563,476.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Antonio P. Smyth sold 4,898 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $90.00, for a total value of $440,820.00. Following the transaction, the executive vice president now directly owns 6,446 shares in the company, valued at $580,140. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on AEP shares. Royal Bank of Canada upped their price objective on shares of American Electric Power from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Barclays upped their price target on shares of American Electric Power from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. LADENBURG THALM/SH SH raised American Electric Power from a “sell” rating to a “neutral” rating and raised their price objective for the company from $73.00 to $86.00 in a report on Thursday, June 6th. Wells Fargo & Company upped their target price on American Electric Power from $84.00 to $89.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 1st. Finally, StockNews.com raised American Electric Power from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $88.62.
Get Our Latest Stock Analysis on American Electric Power
About American Electric Power
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.
Further Reading
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