AdvisorNet Financial Inc Purchases 518 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

AdvisorNet Financial Inc grew its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 17.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,511 shares of the company’s stock after purchasing an additional 518 shares during the quarter. AdvisorNet Financial Inc’s holdings in American Electric Power were worth $302,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of AEP. Northwest Investment Counselors LLC bought a new position in American Electric Power during the 1st quarter worth approximately $114,000. Ballentine Partners LLC grew its position in American Electric Power by 3.0% during the 1st quarter. Ballentine Partners LLC now owns 11,488 shares of the company’s stock worth $989,000 after acquiring an additional 334 shares during the last quarter. Salem Investment Counselors Inc. grew its position in American Electric Power by 433.7% during the 1st quarter. Salem Investment Counselors Inc. now owns 73,779 shares of the company’s stock worth $6,352,000 after acquiring an additional 59,955 shares during the last quarter. International Assets Investment Management LLC grew its position in American Electric Power by 24.3% during the 1st quarter. International Assets Investment Management LLC now owns 4,055 shares of the company’s stock worth $343,000 after acquiring an additional 793 shares during the last quarter. Finally, City State Bank lifted its holdings in American Electric Power by 44.8% in the 1st quarter. City State Bank now owns 5,405 shares of the company’s stock worth $465,000 after buying an additional 1,672 shares during the period. 75.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. LADENBURG THALM/SH SH upgraded American Electric Power from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $73.00 to $86.00 in a report on Thursday, June 6th. Barclays increased their price objective on American Electric Power from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Scotiabank increased their price objective on American Electric Power from $86.00 to $90.00 and gave the stock a “sector outperform” rating in a report on Wednesday, May 1st. BMO Capital Markets increased their price objective on American Electric Power from $95.00 to $99.00 and gave the stock an “outperform” rating in a report on Tuesday, May 14th. Finally, Cfra restated a “buy” rating and issued a $92.00 target price (up previously from $90.00) on shares of American Electric Power in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, American Electric Power presently has an average rating of “Hold” and an average price target of $88.62.

Insider Activity

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

American Electric Power Price Performance

Shares of American Electric Power stock opened at $86.89 on Wednesday. The stock has a 50 day moving average of $88.49 and a 200 day moving average of $84.03. American Electric Power Company, Inc. has a 12 month low of $69.38 and a 12 month high of $93.44. The firm has a market cap of $45.80 billion, a PE ratio of 16.12, a PEG ratio of 2.58 and a beta of 0.53. 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 (NASDAQ:AEP) last announced its quarterly 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. American Electric Power had a return on equity of 11.23% and a net margin of 14.60%. The company had revenue of $5 billion during the quarter, compared to analyst estimates of $5.02 billion. During the same period in the prior year, the company earned $1.11 earnings per share. The firm’s revenue was up 6.4% on a year-over-year basis. On average, research analysts expect that American Electric Power Company, Inc. will post 5.58 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The business 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. This represents a $3.52 annualized dividend and a dividend yield of 4.05%. The ex-dividend date was Thursday, May 9th. American Electric Power’s payout ratio 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.