American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by South State Corp

South State Corp lowered its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 2.4% in the second quarter, HoldingsChannel.com reports. The firm owned 6,466 shares of the company’s stock after selling 159 shares during the quarter. South State Corp’s holdings in American Electric Power were worth $547,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its position in American Electric Power by 26.2% in the first quarter. Envestnet Asset Management Inc. now owns 503,376 shares of the company’s stock valued at $42,636,000 after acquiring an additional 104,598 shares during the last quarter. Natixis Advisors L.P. lifted its position in American Electric Power by 11.6% in the first quarter. Natixis Advisors L.P. now owns 81,743 shares of the company’s stock valued at $6,923,000 after acquiring an additional 8,510 shares during the last quarter. Cullen Frost Bankers Inc. lifted its position in American Electric Power by 2.4% in the first quarter. Cullen Frost Bankers Inc. now owns 63,071 shares of the company’s stock valued at $5,342,000 after acquiring an additional 1,489 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in American Electric Power by 81.0% in the first quarter. Los Angeles Capital Management LLC now owns 10,566 shares of the company’s stock valued at $895,000 after acquiring an additional 4,730 shares during the last quarter. Finally, Donaldson Capital Management LLC lifted its position in American Electric Power by 25.9% in the first quarter. Donaldson Capital Management LLC now owns 8,009 shares of the company’s stock valued at $678,000 after acquiring an additional 1,647 shares during the last quarter. Hedge funds and other institutional investors own 73.60% of the company’s stock.

A number of equities research analysts recently weighed in on the stock. Barclays boosted their price target on shares of American Electric Power from $95.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, May 25th. Morgan Stanley upped their target price on shares of American Electric Power from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, August 19th. Wells Fargo & Company reduced their target price on shares of American Electric Power from $96.00 to $93.00 and set an “equal weight” rating for the company in a report on Friday, July 23rd. Finally, Bank of America raised shares of American Electric Power from a “neutral” rating to a “buy” rating and set a $86.88 target price for the company in a report on Monday, July 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $95.21.

In other American Electric Power news, CEO Nicholas K. Akins sold 2,100 shares of the company’s stock in a transaction dated Thursday, July 1st. The shares were sold at an average price of $84.73, for a total transaction of $177,933.00. Following the transaction, the chief executive officer now directly owns 102,872 shares in the company, valued at $8,716,344.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.14% of the company’s stock.

Shares of American Electric Power stock opened at $87.83 on Wednesday. American Electric Power Company, Inc. has a 52-week low of $74.80 and a 52-week high of $94.21. The company has a quick ratio of 0.33, a current ratio of 0.44 and a debt-to-equity ratio of 1.42. The company’s 50-day simple moving average is $88.49 and its 200-day simple moving average is $86.22. The firm has a market cap of $43.94 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 3.30 and a beta of 0.27.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings results on Wednesday, July 21st. The company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. American Electric Power had a net margin of 14.78% and a return on equity of 11.02%. The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same period in the previous year, the business posted $1.08 earnings per share. The business’s revenue was up 8.6% compared to the same quarter last year. Equities research analysts anticipate that American Electric Power Company, Inc. will post 4.7 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 10th. Shareholders of record on Tuesday, August 10th were given a dividend of $0.74 per share. The ex-dividend date was Monday, August 9th. This represents a $2.96 annualized dividend and a yield of 3.37%. American Electric Power’s payout ratio is currently 66.67%.

American Electric Power Profile

American Electric Power Co, Inc engages in the business of generation, transmission and distribution of electricity. It operates through the following segments: Vertically Integrated Utilities, Transmission & Distribution Utilities, AEP Transmission Holdco and Generation & Marketing. The Vertically Integrated Utilities segment engages in the generation, transmission and distribution of electricity for sale to retail and wholesale customers through assets owned and operated by its subsidiaries.

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Institutional Ownership by Quarter for American Electric Power (NASDAQ:AEP)

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