Folger Nolan Fleming Douglas Capital Management Inc. Sells 201 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Folger Nolan Fleming Douglas Capital Management Inc. trimmed its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 6.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,904 shares of the company’s stock after selling 201 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in American Electric Power were worth $317,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of AEP. Brighton Jones LLC raised its holdings in shares of American Electric Power by 11.5% in the 4th quarter. Brighton Jones LLC now owns 10,601 shares of the company’s stock valued at $978,000 after purchasing an additional 1,095 shares during the period. Empowered Funds LLC raised its holdings in shares of American Electric Power by 0.5% in the 4th quarter. Empowered Funds LLC now owns 41,165 shares of the company’s stock valued at $3,797,000 after purchasing an additional 205 shares during the period. Focus Financial Network Inc. raised its holdings in American Electric Power by 6.5% in the 4th quarter. Focus Financial Network Inc. now owns 4,842 shares of the company’s stock valued at $447,000 after acquiring an additional 295 shares during the period. Essex Financial Services Inc. raised its holdings in American Electric Power by 3.1% in the 4th quarter. Essex Financial Services Inc. now owns 6,305 shares of the company’s stock valued at $582,000 after acquiring an additional 192 shares during the period. Finally, Stonebridge Financial Group LLC bought a new position in American Electric Power in the 4th quarter valued at about $96,000. 75.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on AEP shares. Morgan Stanley lowered 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 report on Thursday, May 22nd. Wells Fargo & Company increased their price objective on shares of American Electric Power from $107.00 to $114.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 7th. Raymond James assumed coverage on shares of American Electric Power in a research note on Friday. They set an “outperform” rating and a $115.00 price target for the company. Citigroup increased their target price on shares of American Electric Power from $102.00 to $109.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Finally, BMO Capital Markets lifted their price objective on American Electric Power from $111.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $108.31.

American Electric Power Stock Performance

Shares of American Electric Power stock opened at $103.02 on Friday. The business has a fifty day simple moving average of $104.14 and a two-hundred day simple moving average of $101.09. The firm has a market capitalization of $55.03 billion, a P/E ratio of 18.40, a P/E/G ratio of 2.97 and a beta of 0.42. The company has a current ratio of 0.44, a quick ratio of 0.31 and a debt-to-equity ratio of 1.46. American Electric Power Company, Inc. has a 12 month low of $85.93 and a 12 month high of $110.48.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.14. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. The business had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.33 billion. During the same quarter last year, the firm earned $1.27 earnings per share. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities analysts forecast that American Electric Power Company, Inc. will post 5.87 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 Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.61%. The ex-dividend date was Friday, May 9th. American Electric Power’s dividend payout ratio is presently 71.68%.

Insider Buying and Selling

In other American Electric Power news, EVP Quinton S. Lies sold 10,141 shares of American Electric Power stock in a transaction on Monday, May 19th. The stock was sold at an average price of $102.68, for a total value 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 trade represents a 51.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Matthew Feinberg sold 8,058 shares of the company’s stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $101.49, for a total value of $817,806.42. Following the transaction, the executive vice president now directly owns 18,332 shares in the company, valued at approximately $1,860,514.68. The trade was a 30.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,256 shares of company stock worth $2,688,472 in the last quarter. Corporate insiders own 0.07% of the company’s stock.

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.