Phillips Wealth Planners LLC Takes $201,000 Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Phillips Wealth Planners LLC purchased a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,921 shares of the company’s stock, valued at approximately $201,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Tyche Wealth Partners LLC acquired a new stake in American Electric Power in the 1st quarter valued at about $232,000. HBK Sorce Advisory LLC lifted its holdings in shares of American Electric Power by 4.7% in the first quarter. HBK Sorce Advisory LLC now owns 10,061 shares of the company’s stock valued at $1,099,000 after purchasing an additional 449 shares in the last quarter. Golden State Wealth Management LLC grew its position in shares of American Electric Power by 143.0% in the first quarter. Golden State Wealth Management LLC now owns 22,444 shares of the company’s stock valued at $2,453,000 after purchasing an additional 13,208 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of American Electric Power by 4,567.3% during the 1st quarter. Bessemer Group Inc. now owns 1,764,677 shares of the company’s stock worth $192,827,000 after purchasing an additional 1,726,868 shares in the last quarter. Finally, Spire Wealth Management raised its position in shares of American Electric Power by 473.2% during the 1st quarter. Spire Wealth Management now owns 21,758 shares of the company’s stock worth $2,378,000 after purchasing an additional 17,962 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on AEP. Raymond James Financial started coverage on American Electric Power in a report on Friday, June 13th. They set an “outperform” rating and a $115.00 target price on the stock. Citigroup increased their price objective on American Electric Power from $102.00 to $109.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. 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. Barclays upped their target price on shares of American Electric Power from $95.00 to $106.00 and gave the company an “equal weight” rating in a report on Tuesday, April 22nd. 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 investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $108.31.

Insider Transactions at American Electric Power

In other news, EVP David Matthew Feinberg sold 8,057 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $102.94, for a total value 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 $2,707,116.12. This represents a 23.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Quinton S. Lies sold 10,141 shares of the firm’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $102.68, for a total transaction of $1,041,277.88. Following the completion of the transaction, the executive vice president now directly owns 9,658 shares in the company, valued at approximately $991,683.44. This represents a 51.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,314 shares of company stock worth $3,508,293 in the last three months. 0.07% of the stock is currently owned by company insiders.

American Electric Power Price Performance

American Electric Power stock opened at $102.35 on Friday. American Electric Power Company, Inc. has a 1 year low of $86.83 and a 1 year high of $110.48. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.31 and a current ratio of 0.42. The firm has a 50 day moving average price of $103.72 and a 200 day moving average price of $101.38. The company has a market cap of $54.68 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 2.69 and a beta of 0.42.

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

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a $0.93 dividend. The ex-dividend date was Friday, May 9th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.63%. American Electric Power’s dividend payout ratio (DPR) is 71.68%.

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.