Centre Asset Management LLC Grows Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Centre Asset Management LLC lifted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 8.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,030 shares of the company’s stock after purchasing an additional 309 shares during the quarter. Centre Asset Management LLC’s holdings in American Electric Power were worth $440,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of AEP. MassMutual Private Wealth & Trust FSB lifted its stake in American Electric Power by 7.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 59,125 shares of the company’s stock worth $6,461,000 after acquiring an additional 3,843 shares in the last quarter. Fire Capital Management LLC acquired a new position in American Electric Power during the 4th quarter worth about $464,000. 111 Capital acquired a new position in American Electric Power during the 4th quarter worth about $347,000. Thoma Capital Management LLC acquired a new position in American Electric Power during the 4th quarter worth about $743,000. Finally, NorthCrest Asset Manangement LLC lifted its stake in American Electric Power by 0.7% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 23,207 shares of the company’s stock worth $2,140,000 after acquiring an additional 158 shares in the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AEP has been the topic of several research reports. Barclays increased their target price on American Electric Power from $95.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 22nd. Wells Fargo & Company increased their target price on American Electric Power from $107.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 7th. Guggenheim increased their target price on American Electric Power from $109.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. BMO Capital Markets increased their target price on American Electric Power from $111.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday, April 21st. Finally, Morgan Stanley reduced their price target on American Electric Power from $114.00 to $113.00 and set an “overweight” rating on the stock in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $105.69.

Insider Transactions at American Electric Power

In other American Electric Power news, EVP Quinton S. Lies sold 10,141 shares of American Electric Power stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $102.68, for a total transaction of $1,041,277.88. Following the transaction, the executive vice president now owns 9,658 shares of the company’s stock, valued at $991,683.44. The trade was a 51.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.07% of the company’s stock.

American Electric Power Price Performance

AEP stock opened at $101.68 on Thursday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.44 and a quick ratio of 0.31. The firm has a market capitalization of $54.32 billion, a P/E ratio of 18.16, a P/E/G ratio of 2.97 and a beta of 0.45. The business’s 50-day moving average is $104.90 and its two-hundred day moving average is $100.60. American Electric Power Company, Inc. has a 1 year low of $85.93 and a 1 year high of $110.48.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.14. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. The business had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.33 billion. During the same quarter last year, the company earned $1.27 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis. Analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.66%. The ex-dividend date is Friday, May 9th. American Electric Power’s dividend payout ratio (DPR) is presently 71.68%.

American Electric Power 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.