Wesbanco Bank Inc. Lowers Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Wesbanco Bank Inc. cut its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,956 shares of the company’s stock after selling 1,307 shares during the period. Wesbanco Bank Inc.’s holdings in American Electric Power were worth $7,753,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in AEP. Raymond James Financial Inc. purchased a new position in American Electric Power in the 4th quarter worth approximately $220,983,000. Lazard Asset Management LLC raised its holdings in shares of American Electric Power by 51.0% during the 4th quarter. Lazard Asset Management LLC now owns 6,416,474 shares of the company’s stock worth $591,791,000 after acquiring an additional 2,165,888 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of American Electric Power by 13,499.5% during the 1st quarter. GAMMA Investing LLC now owns 2,150,215 shares of the company’s stock worth $234,954,000 after acquiring an additional 2,134,404 shares in the last quarter. Cohen & Steers Inc. purchased a new position in shares of American Electric Power in the fourth quarter valued at $121,605,000. Finally, Bank of America Corp DE grew its holdings in shares of American Electric Power by 27.5% in the fourth quarter. Bank of America Corp DE now owns 5,120,568 shares of the company’s stock valued at $472,270,000 after purchasing an additional 1,105,317 shares in the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Price Performance

Shares of AEP stock opened at $101.79 on Monday. American Electric Power Company, Inc. has a 1-year low of $85.93 and a 1-year high of $110.48. The stock’s 50-day moving average is $104.43 and its 200 day moving average is $101.02. The company has a market cap of $54.38 billion, a P/E ratio of 18.18, a PEG ratio of 2.97 and a beta of 0.42. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.44 and a quick ratio of 0.31.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.14. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. The company had revenue of $5.46 billion for the quarter, compared to the consensus estimate of $5.33 billion. During the same quarter last year, the company earned $1.27 earnings per share. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. Research analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend is Friday, May 9th. American Electric Power’s dividend payout ratio is presently 71.68%.

Insiders Place Their Bets

In related 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 transaction of $829,387.58. Following the completion of the sale, the executive vice president now owns 26,298 shares of the company’s stock, valued at $2,707,116.12. The trade was a 23.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 sale, the executive vice president now directly owns 9,658 shares of the company’s stock, valued at $991,683.44. This trade represents a 51.22% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.07% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of 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. Citigroup boosted their price target on shares of American Electric Power from $102.00 to $109.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Bank of America boosted their price target on shares of American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. Guggenheim increased their price target on American Electric Power from $109.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. Finally, BMO Capital Markets increased their price target on American Electric Power from $111.00 to $115.00 and gave the company an “outperform” rating in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, American Electric Power presently has an average rating of “Hold” and a consensus price target of $107.75.

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.