American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY trimmed its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 25.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,221 shares of the company’s stock after selling 7,396 shares during the period. Miller Howard Investments Inc. NY’s holdings in American Electric Power were worth $1,827,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of AEP. Frazier Financial Advisors LLC purchased a new position in American Electric Power during the fourth quarter worth about $26,000. Rise Advisors LLC purchased a new position in American Electric Power during the first quarter worth about $27,000. Wetzel Investment Advisors Inc. purchased a new position in American Electric Power during the fourth quarter worth about $32,000. GoalVest Advisory LLC boosted its stake in American Electric Power by 304.8% during the fourth quarter. GoalVest Advisory LLC now owns 425 shares of the company’s stock worth $35,000 after buying an additional 320 shares during the period. Finally, Northwest Financial Advisors purchased a new position in American Electric Power during the fourth quarter worth about $41,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. LADENBURG THALM/SH SH raised shares of American Electric Power from a “sell” rating to a “neutral” rating and increased their target price for the stock from $73.00 to $86.00 in a research note on Thursday, June 6th. Royal Bank of Canada raised their price objective on shares of American Electric Power from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. BMO Capital Markets raised their price objective on shares of American Electric Power from $95.00 to $99.00 and gave the company an “outperform” rating in a research note on Tuesday, May 14th. Scotiabank raised their target price on shares of American Electric Power from $86.00 to $90.00 and gave the company a “sector outperform” rating in a report on Wednesday, May 1st. Finally, Cfra reaffirmed a “buy” rating and issued a $92.00 target price (up previously from $90.00) on shares of American Electric Power in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $88.62.

Insider Activity at American Electric Power

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 value of $440,820.00. Following the transaction, the executive vice president now directly owns 6,446 shares in the company, valued at approximately $580,140. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 value of $440,820.00. Following the transaction, the executive vice president now directly owns 6,446 shares in the company, valued at approximately $580,140. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 shares were sold at an average price of $88.25, for a total transaction of $518,910.00. Following the completion of the transaction, the executive vice president now owns 6,385 shares in the company, valued at $563,476.25. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.

American Electric Power Stock Up 1.3 %

AEP stock opened at $88.14 on Tuesday. The company has a current ratio of 0.54, a quick ratio of 0.37 and a debt-to-equity ratio of 1.50. American Electric Power Company, Inc. has a twelve month low of $69.38 and a twelve month high of $93.44. The company’s 50 day moving average is $88.34 and its two-hundred day moving average is $83.98. The stock has a market cap of $46.46 billion, a P/E ratio of 16.35, a PEG ratio of 2.58 and a beta of 0.53.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Tuesday, April 30th. The company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.02. The business had revenue of $5 billion for the quarter, compared to analysts’ expectations of $5.02 billion. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $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 company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were given 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 65.31%.

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.