Bank of Stockton Acquires 796 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Bank of Stockton grew its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 16.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,691 shares of the company’s stock after purchasing an additional 796 shares during the period. Bank of Stockton’s holdings in American Electric Power were worth $622,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AEP. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of American Electric Power during the 4th quarter valued at about $25,000. EQ Wealth Advisors LLC purchased a new position in American Electric Power in the 1st quarter worth about $25,000. Fourth Dimension Wealth LLC purchased a new stake in shares of American Electric Power in the fourth quarter valued at approximately $28,000. Bank of New Hampshire purchased a new position in American Electric Power during the 1st quarter worth $28,000. Finally, Fairway Wealth LLC bought a new stake in shares of American Electric Power in the fourth quarter valued at about $32,000. Institutional investors own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AEP. Citigroup increased their target price on American Electric Power from $102.00 to $109.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Morgan Stanley reduced their target price on shares of American Electric Power from $114.00 to $113.00 and set an “overweight” rating for the company in a report on Thursday, May 22nd. BMO Capital Markets boosted their price objective 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. UBS Group increased their target price on shares of American Electric Power from $95.00 to $100.00 and gave the company a “sell” rating in a research report on Friday, June 6th. Finally, 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 report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, American Electric Power presently has a consensus rating of “Hold” and a consensus price target of $108.31.

American Electric Power Stock Performance

Shares of NASDAQ AEP opened at $101.41 on Thursday. The stock has a market cap of $54.17 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 2.74 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 company has a 50 day simple moving average of $103.83 and a two-hundred day simple moving average of $101.33. The company has a current ratio of 0.42, a quick ratio of 0.31 and a debt-to-equity ratio of 1.42.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.40 by $0.14. The business had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.33 billion. American Electric Power had a return on equity of 11.68% and a net margin of 13.73%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.27 EPS. As a group, analysts predict 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. Shareholders of record on Friday, May 9th were given a dividend of $0.93 per share. The ex-dividend date was Friday, May 9th. This represents a $3.72 dividend on an annualized basis and a yield of 3.67%. American Electric Power’s dividend payout ratio is currently 71.68%.

Insider Buying and Selling at American Electric Power

In related news, EVP David Matthew Feinberg sold 8,057 shares of American Electric Power stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $102.94, for a total value of $829,387.58. Following the sale, the executive vice president now directly owns 26,298 shares in the company, valued at approximately $2,707,116.12. The trade was a 23.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $1,041,277.88. Following the transaction, the executive vice president now directly owns 9,658 shares of the company’s stock, valued at $991,683.44. The trade was a 51.22% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have 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.