Nexus Investment Management ULC Boosts Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Nexus Investment Management ULC raised its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 0.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 396,492 shares of the company’s stock after acquiring an additional 1,417 shares during the quarter. American Electric Power makes up 6.5% of Nexus Investment Management ULC’s portfolio, making the stock its 4th biggest position. Nexus Investment Management ULC owned 0.07% of American Electric Power worth $43,325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC boosted its stake in American Electric Power by 6.1% during the 4th quarter. DAVENPORT & Co LLC now owns 57,574 shares of the company’s stock valued at $5,310,000 after acquiring an additional 3,288 shares during the last quarter. Capital Insight Partners LLC bought a new position in American Electric Power during the 4th quarter valued at $714,000. Avantra Family Wealth Inc. bought a new position in American Electric Power during the 4th quarter valued at $458,000. OLD National Bancorp IN boosted its stake in American Electric Power by 3.0% during the 4th quarter. OLD National Bancorp IN now owns 128,654 shares of the company’s stock valued at $11,866,000 after acquiring an additional 3,791 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in American Electric Power by 31.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,075,032 shares of the company’s stock valued at $315,498,000 after acquiring an additional 738,756 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AEP has been the topic of a number of recent research reports. Morgan Stanley reduced their price target on shares of 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. Wells Fargo & Company raised their price target on shares of American Electric Power from $107.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 7th. Citigroup raised their price target on shares of American Electric Power from $102.00 to $109.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. BMO Capital Markets raised their price target on shares of American Electric Power from $111.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, April 21st. Finally, Guggenheim raised their price target on shares of American Electric Power from $109.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, American Electric Power presently has a consensus rating of “Hold” and an average target price of $105.69.

American Electric Power Trading Up 0.8%

Shares of NASDAQ:AEP opened at $102.53 on Friday. The company has a market cap of $54.77 billion, a PE ratio of 18.31, a P/E/G ratio of 2.97 and a beta of 0.45. The company’s 50-day moving average price is $104.87 and its 200 day moving average price is $100.66. American Electric Power Company, Inc. has a fifty-two week low of $85.93 and a fifty-two week high of $110.48. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.14. The firm had revenue of $5.46 billion for the quarter, compared to the consensus estimate of $5.33 billion. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. American Electric Power’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the firm posted $1.27 EPS. Sell-side analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be paid a dividend of $0.93 per share. The ex-dividend date is Friday, May 9th. This represents a $3.72 annualized dividend and a yield of 3.63%. American Electric Power’s payout ratio is 71.68%.

Insider Buying and Selling at American Electric Power

In other American Electric Power news, EVP Quinton S. Lies sold 10,141 shares of the firm’s stock in a transaction dated Monday, May 19th. The shares were 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 approximately $991,683.44. This trade represents a 51.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is 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.