American Electric Power Company, Inc. (NASDAQ:AEP) is Viking Fund Management LLC’s 8th Largest Position

Viking Fund Management LLC cut its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 8.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 110,000 shares of the company’s stock after selling 10,500 shares during the quarter. American Electric Power comprises 1.7% of Viking Fund Management LLC’s investment portfolio, making the stock its 8th biggest position. Viking Fund Management LLC’s holdings in American Electric Power were worth $12,020,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Safeguard Investment Advisory Group LLC grew its position in American Electric Power by 4.3% in the fourth quarter. Safeguard Investment Advisory Group LLC now owns 2,414 shares of the company’s stock valued at $223,000 after acquiring an additional 100 shares in the last quarter. Marcum Wealth LLC boosted its stake in shares of American Electric Power by 3.0% in the first quarter. Marcum Wealth LLC now owns 3,468 shares of the company’s stock valued at $379,000 after purchasing an additional 101 shares during the period. SouthState Corp grew its holdings in American Electric Power by 1.6% during the 4th quarter. SouthState Corp now owns 6,611 shares of the company’s stock valued at $610,000 after purchasing an additional 102 shares in the last quarter. Ascent Group LLC increased its stake in American Electric Power by 0.4% during the 4th quarter. Ascent Group LLC now owns 27,889 shares of the company’s stock worth $2,572,000 after buying an additional 102 shares during the period. Finally, Dark Forest Capital Management LP increased its stake in American Electric Power by 2.3% during the 4th quarter. Dark Forest Capital Management LP now owns 4,537 shares of the company’s stock worth $418,000 after buying an additional 103 shares during the period. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other American Electric Power news, EVP Quinton S. Lies sold 10,141 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 9,658 shares of the company’s stock, valued at approximately $991,683.44. This represents a 51.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.07% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Barclays boosted their target price on shares of American Electric Power from $95.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 22nd. Morgan Stanley decreased their price target on American Electric Power from $114.00 to $113.00 and set an “overweight” rating for the company in a research note on Thursday, May 22nd. Guggenheim upped their price objective on American Electric Power from $109.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Bank of America lifted their target price on American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. Finally, Citigroup boosted their price target on American Electric Power from $102.00 to $109.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $105.69.

American Electric Power Trading Down 0.3%

Shares of NASDAQ AEP opened at $103.18 on Tuesday. The company’s 50 day simple moving average is $104.86 and its 200 day simple moving average is $100.88. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.44 and a quick ratio of 0.31. American Electric Power Company, Inc. has a fifty-two week low of $85.93 and a fifty-two week high of $110.48. The firm has a market capitalization of $55.12 billion, a P/E ratio of 18.43, a P/E/G ratio of 2.97 and a beta of 0.45.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.14. The business had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.33 billion. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.27 earnings per share. On average, analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $3.72 dividend on an annualized basis and a yield of 3.61%. American Electric Power’s dividend payout ratio is currently 71.68%.

About American Electric Power

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.