Shepherd Financial Partners LLC Invests $220,000 in American Electric Power Company, Inc. (NASDAQ:AEP)

Shepherd Financial Partners LLC acquired a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,015 shares of the company’s stock, valued at approximately $220,000.

Several other institutional investors have also added to or reduced their stakes in the business. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of American Electric Power during the fourth quarter worth $25,000. Fourth Dimension Wealth LLC bought a new stake in shares of American Electric Power during the 4th quarter valued at $28,000. Bank of New Hampshire purchased a new stake in American Electric Power during the 1st quarter worth about $28,000. Fairway Wealth LLC bought a new position in American Electric Power in the 4th quarter worth about $32,000. Finally, Kestra Investment Management LLC bought a new position in American Electric Power in the 4th quarter worth about $35,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Stock Performance

NASDAQ AEP opened at $101.20 on Thursday. American Electric Power Company, Inc. has a 52-week low of $85.93 and a 52-week high of $110.48. The company has a fifty day moving average of $104.15 and a 200-day moving average of $101.15. The company has a market capitalization of $54.06 billion, a P/E ratio of 19.50, a P/E/G ratio of 2.70 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 (NASDAQ:AEP) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.14. American Electric Power had a return on equity of 11.68% and a net margin of 13.73%. The firm had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.33 billion. During the same quarter in the previous year, the company posted $1.27 earnings per share. The company’s revenue was up 8.7% compared to the same quarter last year. As a group, 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 company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a $0.93 dividend. The ex-dividend date was Friday, May 9th. This represents a $3.72 dividend on an annualized basis and a yield of 3.68%. American Electric Power’s payout ratio is 71.68%.

Insiders Place Their Bets

In other news, EVP David Matthew Feinberg sold 8,057 shares of American Electric Power stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $102.94, for a total value 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Quinton S. Lies sold 10,141 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $102.68, for a total value of $1,041,277.88. Following the sale, the executive vice president now owns 9,658 shares of the company’s stock, valued at $991,683.44. This represents a 51.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,314 shares of company stock valued at $3,508,293 over the last quarter. 0.07% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AEP. Bank of America upped their price target on American Electric Power from $108.00 to $114.00 and gave the company a “buy” rating in a research report on Tuesday, March 18th. Guggenheim increased their target price 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. Wells Fargo & Company raised their price target on shares of American Electric Power from $107.00 to $114.00 and gave the company an “equal weight” rating in a report on Wednesday, May 7th. Raymond James Financial began coverage on shares of American Electric Power in a report on Friday, June 13th. They issued an “outperform” rating and a $115.00 price target on the stock. Finally, Barclays increased their price objective on American Electric Power from $95.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, American Electric Power has an average rating of “Hold” and a consensus target price of $108.31.

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.