Aberdeen Group plc Has $37.64 Million Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Aberdeen Group plc lessened its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 7.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 346,275 shares of the company’s stock after selling 29,224 shares during the quarter. Aberdeen Group plc’s holdings in American Electric Power were worth $37,638,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. EQ Wealth Advisors LLC acquired a new stake in shares of American Electric Power in the first quarter worth $25,000. Bank of New Hampshire acquired a new stake in shares of American Electric Power in the first quarter worth $28,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of American Electric Power in the first quarter worth $33,000. Fourth Dimension Wealth LLC acquired a new stake in shares of American Electric Power in the fourth quarter worth $28,000. Finally, IMA Advisory Services Inc. acquired a new stake in shares of American Electric Power in the first quarter worth $35,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Price Performance

Shares of NASDAQ:AEP opened at $111.99 on Friday. American Electric Power Company, Inc. has a fifty-two week low of $89.91 and a fifty-two week high of $115.36. The business has a 50-day moving average of $106.71 and a two-hundred day moving average of $105.04. The stock has a market capitalization of $59.89 billion, a P/E ratio of 16.37, a P/E/G ratio of 2.97 and a beta of 0.40. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.55 and a quick ratio of 0.41.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.16. American Electric Power had a return on equity of 11.55% and a net margin of 17.68%. The company had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter in the previous year, the firm earned $1.25 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th will be paid a $0.93 dividend. The ex-dividend date is Friday, August 8th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.3%. American Electric Power’s payout ratio is presently 54.39%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AEP. Wells Fargo & Company raised their target price on American Electric Power from $107.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 7th. Morgan Stanley cut their price objective on American Electric Power from $114.00 to $113.00 and set an “overweight” rating for the company in a report on Thursday, May 22nd. BMO Capital Markets increased their price objective on American Electric Power from $111.00 to $115.00 and gave the stock an “outperform” rating in a report on Monday, April 21st. Scotiabank increased their price objective on American Electric Power from $102.00 to $114.00 and gave the stock a “sector perform” rating in a report on Thursday, July 31st. Finally, Citigroup increased their price objective on American Electric Power from $102.00 to $109.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $111.29.

Insider Transactions at American Electric Power

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 directly 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 document filed with the SEC, which is accessible through this hyperlink. Also, EVP Quinton S. Lies sold 10,141 shares of American Electric Power stock in a transaction dated 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 owned 9,658 shares in the company, valued at $991,683.44. The trade was a 51.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,314 shares of company stock worth $3,508,293 over the last quarter. 0.07% of the stock is currently owned by corporate insiders.

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.