American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Rench Wealth Management Inc.

Rench Wealth Management Inc. trimmed its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEPFree Report) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,011 shares of the company’s stock after selling 137 shares during the period. Rench Wealth Management Inc.’s holdings in American Electric Power were worth $3,575,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of American Electric Power by 14.4% during the 3rd quarter. Wellington Management Group LLP now owns 28,591,562 shares of the company’s stock valued at $2,150,657,000 after purchasing an additional 3,589,451 shares in the last quarter. Morgan Stanley increased its holdings in American Electric Power by 4.1% in the 3rd quarter. Morgan Stanley now owns 14,892,850 shares of the company’s stock worth $1,120,240,000 after acquiring an additional 587,145 shares in the last quarter. Invesco Ltd. boosted its stake in American Electric Power by 13.7% during the 3rd quarter. Invesco Ltd. now owns 9,798,204 shares of the company’s stock worth $737,021,000 after purchasing an additional 1,181,706 shares during the last quarter. Royal Bank of Canada boosted its stake in American Electric Power by 5.1% during the 3rd quarter. Royal Bank of Canada now owns 7,714,823 shares of the company’s stock worth $580,308,000 after purchasing an additional 374,300 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its stake in American Electric Power by 18.1% during the 3rd quarter. Lazard Asset Management LLC now owns 4,311,429 shares of the company’s stock worth $324,304,000 after purchasing an additional 660,599 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Stock Up 0.2 %

AEP traded up $0.14 on Tuesday, reaching $88.69. The company’s stock had a trading volume of 771,541 shares, compared to its average volume of 3,471,886. The stock has a 50 day moving average of $87.50 and a two-hundred day moving average of $83.40. The company has a quick ratio of 0.37, a current ratio of 0.54 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $46.75 billion, a price-to-earnings ratio of 16.43, a P/E/G ratio of 2.62 and a beta of 0.53. American Electric Power Company, Inc. has a fifty-two week low of $69.38 and a fifty-two week high of $93.44.

American Electric Power (NASDAQ:AEPGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.02. The firm had revenue of $5 billion during the quarter, compared to the consensus estimate of $5.02 billion. American Electric Power had a return on equity of 11.23% and a net margin of 14.60%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.11 earnings per share. As a group, analysts forecast that American Electric Power Company, Inc. will post 5.58 EPS for the current fiscal year.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend was Thursday, May 9th. American Electric Power’s payout ratio is currently 65.31%.

Analyst Ratings Changes

Several brokerages have issued reports on AEP. Barclays lifted their target price on shares of American Electric Power from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Wells Fargo & Company upped their target price on shares of American Electric Power from $84.00 to $89.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. Morgan Stanley upped their target price on shares of American Electric Power from $91.00 to $98.00 and gave the company an “overweight” rating in a research report on Tuesday, May 28th. Cfra reaffirmed a “buy” rating and issued a $92.00 target price (up previously from $90.00) on shares of American Electric Power in a research report on Tuesday, February 27th. Finally, LADENBURG THALM/SH SH raised shares of American Electric Power from a “sell” rating to a “neutral” rating and upped their target price for the company from $73.00 to $86.00 in a research report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $88.92.

Check Out Our Latest Report on American Electric Power

Insider Activity

In other news, EVP Greg B. Hall sold 5,880 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $563,476.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Greg B. Hall sold 5,880 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $88.25, for a total value of $518,910.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Antonio P. Smyth sold 4,898 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $90.00, for a total transaction of $440,820.00. Following the completion of the transaction, the executive vice president now directly owns 6,446 shares of the company’s stock, valued at approximately $580,140. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

American Electric Power Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding AEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Electric Power Company, Inc. (NASDAQ:AEPFree Report).

Institutional Ownership by Quarter for American Electric Power (NASDAQ:AEP)

Receive News & Ratings for American Electric Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Electric Power and related companies with MarketBeat.com's FREE daily email newsletter.