Alpha Omega Wealth Management LLC Lowers Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Alpha Omega Wealth Management LLC lessened its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 41,131 shares of the company’s stock after selling 658 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in American Electric Power were worth $3,541,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. FMR LLC boosted its position in shares of American Electric Power by 24.8% during the third quarter. FMR LLC now owns 639,933 shares of the company’s stock worth $48,136,000 after acquiring an additional 127,047 shares during the last quarter. Dark Forest Capital Management LP boosted its holdings in shares of American Electric Power by 30.7% during the 3rd quarter. Dark Forest Capital Management LP now owns 4,752 shares of the company’s stock valued at $357,000 after purchasing an additional 1,117 shares during the last quarter. Algert Global LLC purchased a new position in shares of American Electric Power during the third quarter valued at about $240,000. O Shaughnessy Asset Management LLC increased its holdings in shares of American Electric Power by 19.0% in the third quarter. O Shaughnessy Asset Management LLC now owns 45,520 shares of the company’s stock worth $3,424,000 after purchasing an additional 7,279 shares during the last quarter. Finally, Mutual Advisors LLC lifted its position in shares of American Electric Power by 12.7% in the third quarter. Mutual Advisors LLC now owns 8,720 shares of the company’s stock worth $656,000 after buying an additional 982 shares in the last quarter. 75.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on AEP. Morgan Stanley reduced their price objective on American Electric Power from $98.00 to $94.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. Scotiabank upped their price target on shares of 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 increased their price objective on shares of American Electric Power from $84.00 to $89.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. StockNews.com upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Finally, UBS Group downgraded shares of American Electric Power from a “neutral” rating to a “sell” rating and lowered their price target for the company from $86.00 to $83.00 in a report on Monday, March 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $88.62.

Insiders Place Their Bets

In related news, EVP Antonio P. Smyth sold 4,898 shares of American Electric Power stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $90.00, for a total value of $440,820.00. Following the completion of the sale, the executive vice president now directly owns 6,446 shares in the company, valued at $580,140. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, 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 value of $518,910.00. Following the transaction, the executive vice president now directly owns 6,385 shares in the company, valued at approximately $563,476.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Antonio P. Smyth sold 4,898 shares of the company’s stock in a transaction 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 owns 6,446 shares of the company’s stock, valued at $580,140. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by company insiders.

American Electric Power Stock Performance

AEP stock opened at $87.74 on Friday. The firm has a market cap of $46.25 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 2.60 and a beta of 0.53. American Electric Power Company, Inc. has a twelve month low of $69.38 and a twelve month high of $93.44. 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 business’s fifty day simple moving average is $88.79 and its two-hundred day simple moving average is $84.16.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.25 by $0.02. The company had revenue of $5 billion for the quarter, compared to the consensus estimate 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 was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.11 EPS. Analysts predict that American Electric Power Company, Inc. will post 5.58 earnings per share for the current 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 paid a $0.88 dividend. The ex-dividend date was Thursday, May 9th. This represents a $3.52 annualized dividend and a yield of 4.01%. American Electric Power’s dividend payout ratio (DPR) is currently 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.