Navalign LLC Acquires 513 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Navalign LLC grew its holdings in American Electric Power Company, Inc. (NASDAQ:AEPFree Report) by 6.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,062 shares of the company’s stock after purchasing an additional 513 shares during the period. Navalign LLC’s holdings in American Electric Power were worth $780,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Apella Capital LLC purchased a new stake in shares of American Electric Power during the 4th quarter worth $348,000. Rockline Wealth Management LLC acquired a new position in shares of American Electric Power in the fourth quarter valued at about $1,982,000. Nisa Investment Advisors LLC raised its stake in shares of American Electric Power by 28.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 50,434 shares of the company’s stock worth $4,096,000 after purchasing an additional 11,065 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in American Electric Power by 34.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 62,978 shares of the company’s stock worth $5,115,000 after buying an additional 16,225 shares during the period. Finally, Nordea Investment Management AB lifted its stake in American Electric Power by 1,592.1% during the 4th quarter. Nordea Investment Management AB now owns 414,150 shares of the company’s stock valued at $33,612,000 after acquiring an additional 389,675 shares during the period. 75.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on AEP. LADENBURG THALM/SH SH upgraded American Electric Power from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $73.00 to $86.00 in a research report on Thursday, June 6th. Scotiabank lifted their price target on American Electric Power from $86.00 to $90.00 and gave the company a “sector outperform” rating in a research note on Wednesday, May 1st. Wells Fargo & Company upped their price objective on shares of American Electric Power from $84.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. Morgan Stanley reduced their price target on shares of American Electric Power from $98.00 to $94.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Royal Bank of Canada lifted their price objective 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 investment 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $88.62.

View Our Latest Report on AEP

Insiders Place Their Bets

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

American Electric Power Trading Up 1.3 %

Shares of AEP stock traded up $1.09 during trading hours on Monday, hitting $88.14. The company had a trading volume of 3,737,305 shares, compared to its average volume of 3,437,564. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.54 and a quick ratio of 0.37. The stock has a market capitalization of $46.46 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 2.61 and a beta of 0.53. The company’s fifty day moving average is $88.20 and its 200 day moving average is $83.92. American Electric Power Company, Inc. has a fifty-two week low of $69.38 and a fifty-two week high of $93.44.

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

American Electric Power Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were issued a $0.88 dividend. The ex-dividend date was Thursday, May 9th. This represents a $3.52 dividend on an annualized basis and a yield of 3.99%. American Electric Power’s dividend payout ratio (DPR) is presently 65.31%.

About American Electric Power

(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

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

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