Gateway Investment Advisers LLC Sells 876 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Gateway Investment Advisers LLC reduced its position in shares of American Electric Power Company, Inc. (NASDAQ:AEPFree Report) by 0.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 405,108 shares of the company’s stock after selling 876 shares during the quarter. Gateway Investment Advisers LLC owned 0.08% of American Electric Power worth $34,880,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in American Electric Power by 14.4% during the third quarter. Wellington Management Group LLP now owns 28,591,562 shares of the company’s stock worth $2,150,657,000 after purchasing an additional 3,589,451 shares during the period. Nomura Holdings Inc. bought a new stake in shares of American Electric Power during the 4th quarter worth about $175,667,000. Envestnet Asset Management Inc. grew its stake in American Electric Power by 67.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 2,586,250 shares of the company’s stock valued at $210,055,000 after buying an additional 1,043,885 shares during the last quarter. Lazard Asset Management LLC raised its holdings in American Electric Power by 18.1% in the 3rd quarter. Lazard Asset Management LLC now owns 4,311,429 shares of the company’s stock valued at $324,304,000 after acquiring an additional 660,599 shares during the period. Finally, Morgan Stanley lifted its position in American Electric Power by 4.1% during the third quarter. Morgan Stanley now owns 14,892,850 shares of the company’s stock worth $1,120,240,000 after acquiring an additional 587,145 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

Insider Buying and Selling at American Electric Power

In other American Electric Power news, EVP Greg B. Hall sold 5,880 shares of American Electric Power stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $88.25, for a total value of $518,910.00. Following the transaction, the executive vice president now directly owns 6,385 shares of the company’s stock, valued at approximately $563,476.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Greg B. Hall sold 5,880 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $88.25, for a total transaction of $518,910.00. Following the completion of the sale, the executive vice president now directly owns 6,385 shares in the company, valued at $563,476.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Antonio P. Smyth sold 4,898 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $90.00, for a total value of $440,820.00. Following the transaction, the executive vice president now owns 6,446 shares in the company, valued at approximately $580,140. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

American Electric Power Stock Performance

Shares of NASDAQ:AEP traded down $0.80 during midday trading on Tuesday, reaching $87.34. 300,369 shares of the company traded hands, compared to its average volume of 3,411,638. American Electric Power Company, Inc. has a 12 month low of $69.38 and a 12 month high of $93.44. The firm’s fifty day moving average price is $88.34 and its two-hundred day moving average price is $83.98. The company has a quick ratio of 0.37, a current ratio of 0.54 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $46.04 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 2.58 and a beta of 0.53.

American Electric Power (NASDAQ:AEPGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.02. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. The firm had revenue of $5 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same quarter in the prior year, the firm posted $1.11 earnings per share. The business’s quarterly revenue was up 6.4% on a year-over-year basis. On average, equities analysts expect that American Electric Power Company, Inc. will post 5.58 earnings per share for the current year.

American Electric Power Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were paid a $0.88 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.03%. American Electric Power’s dividend payout ratio (DPR) is 65.31%.

Analyst Upgrades and Downgrades

AEP has been the subject of several analyst reports. BMO Capital Markets lifted their price objective on shares of American Electric Power from $95.00 to $99.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 14th. StockNews.com upgraded American Electric Power from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Barclays raised their price objective on American Electric Power from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Morgan Stanley dropped their price objective on American Electric Power from $98.00 to $94.00 and set an “overweight” rating for the company in a report on Monday. Finally, Royal Bank of Canada increased their target price on American Electric Power from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $88.62.

Read Our Latest Research Report on AEP

American Electric Power Profile

(Free Report)

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.

Further Reading

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

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