Adirondack Trust Co. Has $53,000 Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Adirondack Trust Co. decreased its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 22.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 625 shares of the company’s stock after selling 185 shares during the period. Adirondack Trust Co.’s holdings in American Electric Power were worth $53,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Nomura Holdings Inc. acquired a new position in American Electric Power in the 4th quarter worth $175,667,000. HighPoint Advisor Group LLC acquired a new position in American Electric Power in the 4th quarter worth $1,516,000. Quadrature Capital Ltd acquired a new position in American Electric Power in the 4th quarter worth $559,000. Grayhawk Investment Strategies Inc. acquired a new position in American Electric Power in the 4th quarter worth $876,000. Finally, B. Riley Wealth Advisors Inc. lifted its position in American Electric Power by 13.0% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 29,307 shares of the company’s stock worth $2,380,000 after buying an additional 3,371 shares in the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

American Electric Power Stock Performance

NASDAQ AEP opened at $87.55 on Wednesday. The company has a current ratio of 0.54, a quick ratio of 0.37 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $46.15 billion, a price-to-earnings ratio of 16.24, a P/E/G ratio of 2.61 and a beta of 0.53. The firm’s 50 day simple moving average is $87.91 and its 200 day simple moving average is $83.76. American Electric Power Company, Inc. has a 1 year low of $69.38 and a 1 year high of $93.44.

American Electric Power (NASDAQ:AEP) last posted its quarterly 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 business had revenue of $5 billion for the quarter, compared to analyst estimates of $5.02 billion. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the business posted $1.11 EPS. As a group, research analysts expect that American Electric Power Company, Inc. will post 5.58 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend was Thursday, May 9th. American Electric Power’s payout ratio is 65.31%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Cfra reissued a “buy” rating and set a $92.00 price target (up from $90.00) on shares of American Electric Power in a research report on Tuesday, February 27th. Royal Bank of Canada upped their target price on shares of American Electric Power from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Wells Fargo & Company upped their price target on shares of American Electric Power from $84.00 to $89.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 1st. Barclays upped their price target on shares of American Electric Power from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Finally, UBS Group lowered shares of American Electric Power from a “neutral” rating to a “sell” rating and decreased their price target for the company from $86.00 to $83.00 in a research note on Monday, March 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $88.92.

Insider Activity at American Electric Power

In other news, EVP Antonio P. Smyth sold 4,898 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were 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 owns 6,446 shares of the company’s stock, valued at $580,140. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Antonio P. Smyth sold 4,898 shares of American Electric Power stock in a transaction on Wednesday, June 5th. The shares were 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 owns 6,446 shares of the company’s stock, valued at $580,140. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Greg B. Hall sold 5,880 shares of American Electric Power stock in a transaction on Friday, May 31st. The stock was sold at an average price of $88.25, for a total transaction 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 disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

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.