Retirement Guys Formula LLC Buys 1,591 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Retirement Guys Formula LLC grew its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 18.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,374 shares of the company’s stock after buying an additional 1,591 shares during the quarter. Retirement Guys Formula LLC’s holdings in American Electric Power were worth $1,134,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ acquired a new stake in American Electric Power during the 4th quarter worth approximately $25,000. EQ Wealth Advisors LLC bought a new position in shares of American Electric Power during the first quarter valued at $25,000. Fourth Dimension Wealth LLC acquired a new position in shares of American Electric Power during the fourth quarter worth $28,000. Bank of New Hampshire bought a new stake in shares of American Electric Power in the first quarter worth $28,000. Finally, Fairway Wealth LLC bought a new stake in shares of American Electric Power in the fourth quarter worth $32,000. Institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Up 1.5%

American Electric Power stock opened at $103.31 on Tuesday. The company has a market capitalization of $55.19 billion, a PE ratio of 19.91, a PEG ratio of 2.70 and a beta of 0.42. American Electric Power Company, Inc. has a 12-month low of $85.93 and a 12-month high of $110.48. The firm’s fifty day moving average is $103.99 and its 200 day moving average is $101.32. The company has a quick ratio of 0.31, a current ratio of 0.42 and a debt-to-equity ratio of 1.42.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.40 by $0.14. American Electric Power had a return on equity of 11.68% and a net margin of 13.73%. The company had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.33 billion. During the same period last year, the business posted $1.27 EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, sell-side analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend was Friday, May 9th. American Electric Power’s dividend payout ratio is currently 71.68%.

Insider Buying and Selling at American Electric Power

In other news, EVP Quinton S. Lies sold 10,141 shares of the company’s stock in a transaction 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 in the company, valued at $991,683.44. This represents a 51.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP David Matthew Feinberg sold 8,057 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were 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 owns 26,298 shares of the company’s stock, valued at approximately $2,707,116.12. This represents a 23.45% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,314 shares of company stock worth $3,508,293. 0.07% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on AEP shares. Morgan Stanley cut their target price on American Electric Power from $114.00 to $113.00 and set an “overweight” rating on the stock in a report on Thursday, May 22nd. 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 note on Monday, April 21st. Raymond James Financial initiated coverage on American Electric Power in a report on Friday, June 13th. They issued an “outperform” rating and a $115.00 target price on the stock. UBS Group raised their price target on shares of American Electric Power from $95.00 to $100.00 and gave the stock a “sell” rating in a report on Friday, June 6th. Finally, Guggenheim boosted 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, seven have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, American Electric Power presently has a consensus rating of “Hold” and an average target price of $108.31.

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.