Buck Wealth Strategies LLC Purchases Shares of 13,284 American Electric Power Company, Inc. (NASDAQ:AEP)

Buck Wealth Strategies LLC bought a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,284 shares of the company’s stock, valued at approximately $1,452,000.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of American Electric Power by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 51,690,606 shares of the company’s stock worth $4,767,425,000 after purchasing an additional 763,813 shares in the last quarter. GQG Partners LLC lifted its position in shares of American Electric Power by 3.7% during the fourth quarter. GQG Partners LLC now owns 15,060,525 shares of the company’s stock worth $1,389,032,000 after purchasing an additional 543,054 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of American Electric Power by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 12,808,003 shares of the company’s stock worth $1,178,174,000 after purchasing an additional 283,311 shares in the last quarter. Invesco Ltd. lifted its position in shares of American Electric Power by 9.1% during the fourth quarter. Invesco Ltd. now owns 8,603,600 shares of the company’s stock worth $793,510,000 after purchasing an additional 716,229 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in shares of American Electric Power by 1.2% in the fourth quarter. Royal Bank of Canada now owns 7,047,428 shares of the company’s stock worth $649,983,000 after buying an additional 85,756 shares during the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AEP has been the subject of a number of research analyst reports. Morgan Stanley dropped their price target on shares of 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. Bank of America lifted their price target on shares of American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a research note on Tuesday, March 18th. 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. 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. Finally, Raymond James Financial initiated coverage on shares of American Electric Power in a research note on Friday, June 13th. They issued an “outperform” rating and a $115.00 price target for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $108.31.

Insider Transactions at American Electric Power

In other news, EVP David Matthew Feinberg sold 8,058 shares of the company’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total transaction of $819,820.92. Following the completion of the transaction, the executive vice president now owns 10,274 shares in the company, valued at approximately $1,045,276.76. This represents a 43.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Quinton S. Lies sold 10,141 shares of the company’s stock in a transaction dated 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. This represents a 51.22% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,314 shares of company stock worth $3,508,293. Insiders own 0.07% of the company’s stock.

American Electric Power Stock Up 0.5%

AEP stock opened at $101.75 on Friday. 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 fifty day moving average price of $104.05 and a two-hundred day moving average price of $101.24. The firm has a market cap of $54.35 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 2.70 and a beta of 0.42.

American Electric Power (NASDAQ:AEP) last released its earnings results 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. 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 analyst estimates of $5.33 billion. During the same quarter in the previous year, the firm earned $1.27 earnings per share. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. Research 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 declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a dividend of $0.93 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $3.72 annualized dividend and a dividend yield of 3.66%. American Electric Power’s dividend payout ratio is currently 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.