Premier Path Wealth Partners LLC Raises Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Premier Path Wealth Partners LLC increased its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 8.7% during the 1st quarter, HoldingsChannel reports. The firm owned 7,231 shares of the company’s stock after buying an additional 581 shares during the period. Premier Path Wealth Partners LLC’s holdings in American Electric Power were worth $790,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AEP. Clarius Group LLC boosted its stake in shares of American Electric Power by 2.5% during the 1st quarter. Clarius Group LLC now owns 3,966 shares of the company’s stock worth $433,000 after purchasing an additional 95 shares during the period. Safeguard Investment Advisory Group LLC boosted its stake in shares of American Electric Power by 4.3% during the 4th quarter. Safeguard Investment Advisory Group LLC now owns 2,414 shares of the company’s stock worth $223,000 after purchasing an additional 100 shares during the period. Marcum Wealth LLC boosted its stake in shares of American Electric Power by 3.0% during the 1st quarter. Marcum Wealth LLC now owns 3,468 shares of the company’s stock worth $379,000 after purchasing an additional 101 shares during the period. SouthState Corp boosted its stake in shares of American Electric Power by 1.6% during the 4th quarter. SouthState Corp now owns 6,611 shares of the company’s stock worth $610,000 after purchasing an additional 102 shares during the period. Finally, Ascent Group LLC boosted its stake in shares of 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 purchasing an additional 102 shares during the period. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

American Electric Power stock opened at $101.20 on Friday. The stock has a market cap of $54.06 billion, a price-to-earnings ratio of 19.50, a price-to-earnings-growth ratio of 2.69 and a beta of 0.42. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.42 and a quick ratio of 0.31. American Electric Power Company, Inc. has a 1 year low of $85.93 and a 1 year high of $110.48. The firm has a 50-day moving average of $104.11 and a two-hundred day moving average of $101.17.

American Electric Power (NASDAQ:AEP) last announced its quarterly 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 net margin of 13.73% and a return on equity of 11.68%. The firm had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.33 billion. During the same quarter in the prior year, the company earned $1.27 EPS. The company’s revenue was up 8.7% compared to the same quarter last year. On average, research analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Announces Dividend

The firm 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. The ex-dividend date of this dividend was Friday, May 9th. This represents a $3.72 annualized dividend and a dividend yield of 3.68%. American Electric Power’s payout ratio is presently 71.68%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Guggenheim lifted 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 note on Wednesday, May 7th. Barclays lifted their price target on shares of 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. BMO Capital Markets lifted 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 note on Monday, April 21st. Citigroup lifted 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 note on Wednesday, May 7th. Finally, Raymond James Financial began coverage on shares of American Electric Power in a research report on Friday, June 13th. They issued an “outperform” rating and a $115.00 price objective for the company. One investment 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $108.31.

Insider Transactions at American Electric Power

In other news, EVP Quinton S. Lies sold 10,141 shares of the company’s stock in a transaction that occurred on Monday, May 19th. The shares were 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 represents a 51.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Matthew Feinberg sold 8,057 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $102.94, for a total transaction of $829,387.58. Following the completion of the sale, the executive vice president now directly owns 26,298 shares of the company’s stock, valued at $2,707,116.12. The trade was a 23.45% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,314 shares of company stock valued at $3,508,293. Company 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.