Accel Wealth Management Boosts Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Accel Wealth Management grew its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 16.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,103 shares of the company’s stock after acquiring an additional 428 shares during the period. Accel Wealth Management’s holdings in American Electric Power were worth $267,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Apella Capital LLC purchased a new stake in shares of American Electric Power during the fourth quarter worth $348,000. Hodges Capital Management Inc. bought a new position in shares of American Electric Power during the first quarter valued at about $1,615,000. Rockline Wealth Management LLC bought a new position in shares of American Electric Power during the fourth quarter valued at about $1,982,000. Nisa Investment Advisors LLC grew its stake in shares of American Electric Power by 28.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 50,434 shares of the company’s stock valued at $4,096,000 after buying an additional 11,065 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of American Electric Power by 34.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 62,978 shares of the company’s stock valued at $5,115,000 after buying an additional 16,225 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

Shares of AEP opened at $87.56 on Friday. The company has a 50 day moving average price of $88.92 and a 200-day moving average price of $84.28. American Electric Power Company, Inc. has a fifty-two week low of $69.38 and a fifty-two week high of $93.44. The stock has a market capitalization of $46.15 billion, a PE ratio of 16.24, a PEG ratio of 2.59 and a beta of 0.53. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.37 and a current ratio of 0.54.

American Electric Power (NASDAQ:AEP) last posted 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. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. The company had revenue of $5 billion during the quarter, compared to analysts’ expectations of $5.02 billion. During the same quarter in the prior year, the company posted $1.11 earnings per share. American Electric Power’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities analysts predict 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 declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders 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 dividend yield of 4.02%. American Electric Power’s dividend payout ratio is currently 65.31%.

Insiders Place Their Bets

In other news, EVP Antonio P. Smyth sold 4,898 shares of the 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 sale, the executive vice president now owns 6,446 shares in the company, valued at $580,140. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other American Electric Power news, EVP Antonio P. Smyth sold 4,898 shares of the 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 transaction, the executive vice president now directly owns 6,446 shares of the company’s stock, valued at $580,140. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Greg B. Hall sold 5,880 shares of the 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 transaction, the executive vice president now directly 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.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. 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. Barclays increased their target price on shares of American Electric Power from $84.00 to $88.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. BMO Capital Markets increased their target price on shares of American Electric Power from $95.00 to $99.00 and gave the stock an “outperform” rating in a report on Tuesday, May 14th. Scotiabank increased their target price on shares of American Electric Power from $86.00 to $90.00 and gave the stock a “sector outperform” rating in a report on Wednesday, May 1st. Finally, Royal Bank of Canada increased their target price on shares of American Electric Power from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, American Electric Power currently has an average rating of “Hold” and a consensus target price of $88.62.

American Electric Power Company Profile

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.