Norden Group LLC Invests $7.18 Million in American Electric Power Company, Inc. (NASDAQ:AEP)

Norden Group LLC acquired a new position in American Electric Power Company, Inc. (NASDAQ:AEP) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 83,402 shares of the company’s stock, valued at approximately $7,182,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of AEP. Apella Capital LLC acquired a new stake in shares of American Electric Power during the fourth quarter worth $348,000. Hodges Capital Management Inc. acquired a new stake in shares of American Electric Power during the first quarter worth $1,615,000. Rockline Wealth Management LLC acquired a new stake in shares of American Electric Power during the fourth quarter worth $1,982,000. Nisa Investment Advisors LLC raised its position 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 worth $4,096,000 after purchasing an additional 11,065 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its position 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 worth $5,115,000 after purchasing an additional 16,225 shares during the period. Institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Performance

Shares of NASDAQ AEP opened at $87.56 on Friday. The company has a market capitalization of $46.15 billion, a P/E ratio of 16.24, a price-to-earnings-growth ratio of 2.59 and a beta of 0.53. The business’s 50-day moving average price is $88.92 and its two-hundred day moving average price is $84.28. American Electric Power Company, Inc. has a one year low of $69.38 and a one year high of $93.44. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.54 and a quick ratio of 0.37.

American Electric Power (NASDAQ:AEP) last released 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 company had revenue of $5 billion during the quarter, compared to the consensus estimate of $5.02 billion. American Electric Power had a return on equity of 11.23% and a net margin of 14.60%. The firm’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.11 EPS. Analysts anticipate 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. Stockholders of record on Friday, May 10th were paid a dividend of $0.88 per share. The ex-dividend date was Thursday, May 9th. This represents a $3.52 annualized dividend and a dividend yield of 4.02%. American Electric Power’s dividend payout ratio (DPR) is presently 65.31%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AEP shares. UBS Group lowered American Electric Power from a “neutral” rating to a “sell” rating and cut their target price for the stock from $86.00 to $83.00 in a research report on Monday, March 11th. BMO Capital Markets lifted their price target on American Electric Power from $95.00 to $99.00 and gave the company an “outperform” rating in a report on Tuesday, May 14th. Morgan Stanley lowered their price target on American Electric Power from $98.00 to $94.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. Barclays lifted their price target on American Electric Power from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Finally, Scotiabank lifted their price target on American Electric Power from $86.00 to $90.00 and gave the company a “sector outperform” rating in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $88.62.

Insider Transactions at American Electric Power

In related news, EVP Greg B. Hall sold 5,880 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was 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 of the company’s stock, valued at approximately $563,476.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Greg B. Hall sold 5,880 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was 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 of the company’s stock, valued at approximately $563,476.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Antonio P. Smyth sold 4,898 shares of the business’s 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 transaction, the executive vice president now directly owns 6,446 shares of the company’s stock, valued at approximately $580,140. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by corporate insiders.

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.