American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC trimmed its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 3.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,595 shares of the company’s stock after selling 292 shares during the period. Flagship Harbor Advisors LLC’s holdings in American Electric Power were worth $939,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Clarius Group LLC increased its stake in shares of American Electric Power by 2.5% during the 1st quarter. Clarius Group LLC now owns 3,966 shares of the company’s stock worth $433,000 after purchasing an additional 95 shares in the last quarter. Safeguard Investment Advisory Group LLC increased its stake in shares of American Electric Power by 4.3% during the 4th quarter. Safeguard Investment Advisory Group LLC now owns 2,414 shares of the company’s stock worth $223,000 after purchasing an additional 100 shares in the last quarter. Marcum Wealth LLC increased its stake in shares of American Electric Power by 3.0% during the 1st quarter. Marcum Wealth LLC now owns 3,468 shares of the company’s stock worth $379,000 after purchasing an additional 101 shares in the last quarter. SouthState Corp increased its stake in shares of American Electric Power by 1.6% during the 4th quarter. SouthState Corp now owns 6,611 shares of the company’s stock worth $610,000 after purchasing an additional 102 shares in the last quarter. Finally, Ascent Group LLC increased its stake in shares of American Electric Power by 0.4% during the 4th quarter. Ascent Group LLC now owns 27,889 shares of the company’s stock worth $2,572,000 after purchasing an additional 102 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Stock Down 0.0%

AEP stock opened at $103.28 on Wednesday. The stock has a market capitalization of $55.17 billion, a P/E ratio of 19.90, a PEG ratio of 2.74 and a beta of 0.42. 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 one year low of $85.93 and a one year high of $110.48. The company has a 50 day moving average price of $103.92 and a two-hundred day moving average price of $101.33.

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, beating the consensus estimate of $1.40 by $0.14. American Electric Power had a net margin of 13.73% and a return on equity of 11.68%. The company had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.33 billion. During the same period in the previous year, the company earned $1.27 EPS. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, sell-side analysts expect that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid 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 3.60%. American Electric Power’s dividend payout ratio is presently 71.68%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on AEP shares. Morgan Stanley dropped their price objective on shares of American Electric Power from $114.00 to $113.00 and set an “overweight” rating for the company in a research note on Thursday, May 22nd. Bank of America raised their price objective on shares of American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday, March 18th. Raymond James Financial started coverage on shares of American Electric Power in a research note on Friday, June 13th. They set an “outperform” rating and a $115.00 price objective for the company. Guggenheim raised their price objective on shares of American Electric Power from $109.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Finally, UBS Group raised their price objective on shares of American Electric Power from $95.00 to $100.00 and gave the stock a “sell” rating in a research note on Friday, June 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $108.31.

Insider Activity

In related news, EVP David Matthew Feinberg sold 8,057 shares of American Electric Power stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $102.94, for a total transaction of $829,387.58. Following the transaction, the executive vice president now owns 26,298 shares in the company, valued at approximately $2,707,116.12. The trade was a 23.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Quinton S. Lies sold 10,141 shares of American Electric Power stock in a transaction on Monday, May 19th. The shares were sold at an average price of $102.68, for a total transaction of $1,041,277.88. Following the transaction, the executive vice president now owns 9,658 shares in the company, valued at $991,683.44. The trade was a 51.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,314 shares of company stock valued at $3,508,293 in the last ninety days. Company insiders own 0.07% of the company’s stock.

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.