Global Wealth Management Investment Advisory Inc. lessened its holdings in shares of American Electric Power Company Inc (NYSE:AEP) by 87.5% during the first quarter, HoldingsChannel reports. The firm owned 435 shares of the utilities provider’s stock after selling 3,041 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in American Electric Power were worth $36,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Mastrapasqua Asset Management Inc. grew its position in shares of American Electric Power by 1.5% during the 4th quarter. Mastrapasqua Asset Management Inc. now owns 9,325 shares of the utilities provider’s stock worth $697,000 after purchasing an additional 135 shares in the last quarter. First Citizens Bank & Trust Co. lifted its holdings in shares of American Electric Power by 1.5% during the 1st quarter. First Citizens Bank & Trust Co. now owns 9,484 shares of the utilities provider’s stock worth $794,000 after acquiring an additional 140 shares during the period. Cigna Investments Inc. New lifted its holdings in shares of American Electric Power by 1.0% during the 4th quarter. Cigna Investments Inc. New now owns 14,537 shares of the utilities provider’s stock worth $1,086,000 after acquiring an additional 141 shares during the period. First American Bank lifted its holdings in shares of American Electric Power by 0.4% during the 1st quarter. First American Bank now owns 40,754 shares of the utilities provider’s stock worth $3,413,000 after acquiring an additional 149 shares during the period. Finally, Clifford Swan Investment Counsel LLC lifted its holdings in shares of American Electric Power by 3.9% during the 4th quarter. Clifford Swan Investment Counsel LLC now owns 4,202 shares of the utilities provider’s stock worth $314,000 after acquiring an additional 156 shares during the period. Hedge funds and other institutional investors own 73.59% of the company’s stock.

A number of brokerages have recently weighed in on AEP. Morgan Stanley upped their price target on shares of American Electric Power from $87.00 to $88.00 and gave the stock an “equal weight” rating in a report on Thursday, May 16th. Zacks Investment Research raised shares of American Electric Power from a “hold” rating to a “buy” rating and set a $94.00 price target for the company in a report on Monday, March 18th. UBS Group upped their price target on shares of American Electric Power from $89.00 to $94.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Goldman Sachs Group downgraded shares of American Electric Power from a “buy” rating to a “neutral” rating and set a $78.00 price target for the company. in a report on Monday, April 8th. Finally, Wells Fargo & Co upped their price target on shares of American Electric Power from $89.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. American Electric Power currently has a consensus rating of “Buy” and a consensus target price of $81.80.

Shares of NYSE:AEP opened at $87.02 on Tuesday. The company has a market capitalization of $42.48 billion, a P/E ratio of 22.03, a P/E/G ratio of 3.69 and a beta of 0.16. The company has a quick ratio of 0.37, a current ratio of 0.49 and a debt-to-equity ratio of 1.19. American Electric Power Company Inc has a one year low of $62.71 and a one year high of $89.01.

American Electric Power (NYSE:AEP) last issued its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.09. The business had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.23 billion. American Electric Power had a net margin of 12.64% and a return on equity of 10.81%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.96 EPS. On average, research analysts forecast that American Electric Power Company Inc will post 4.13 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 3.08%. The ex-dividend date is Thursday, May 9th. American Electric Power’s payout ratio is 67.85%.

In related news, CEO Nicholas K. Akins sold 11,152 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $84.94, for a total value of $947,250.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Matthew Feinberg sold 4,535 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $85.72, for a total transaction of $388,740.20. Following the completion of the transaction, the executive vice president now directly owns 9,674 shares of the company’s stock, valued at approximately $829,255.28. The disclosure for this sale can be found here. In the last three months, insiders sold 22,885 shares of company stock valued at $1,955,499. 0.16% of the stock is owned by insiders.

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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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

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

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