Penserra Capital Management LLC Boosts Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Penserra Capital Management LLC grew its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 460.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,808 shares of the company’s stock after purchasing an additional 6,414 shares during the quarter. Penserra Capital Management LLC’s holdings in American Electric Power were worth $852,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ purchased a new stake in American Electric Power in the 4th quarter worth $25,000. EQ Wealth Advisors LLC purchased a new stake in American Electric Power in the 1st quarter worth $25,000. Fourth Dimension Wealth LLC purchased a new stake in American Electric Power in the 4th quarter worth $28,000. Bank of New Hampshire purchased a new stake in American Electric Power in the 1st quarter worth $28,000. Finally, Lee Danner & Bass Inc. purchased a new stake in American Electric Power in the 4th quarter worth $38,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Trading Up 0.8%

Shares of AEP opened at $104.74 on Thursday. 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 Company, Inc. has a 12-month low of $87.51 and a 12-month high of $110.48. The firm has a 50-day moving average price of $103.07 and a 200 day moving average price of $102.07. The firm has a market capitalization of $55.95 billion, a P/E ratio of 20.18, a P/E/G ratio of 2.76 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 analysts’ consensus estimates of $1.40 by $0.14. The firm had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.33 billion. American Electric Power had a net margin of 13.73% and a return on equity of 11.68%. American Electric Power’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.27 earnings per share. Sell-side analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend was Friday, May 9th. American Electric Power’s dividend payout ratio (DPR) is presently 71.68%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AEP shares. Raymond James Financial started coverage on shares of American Electric Power in a report on Friday, June 13th. They issued an “outperform” rating and a $115.00 price target for the company. Barclays lifted their target price 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. Citigroup lifted their target price 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. Bank of America lifted their target price 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. Finally, Morgan Stanley lowered their target price on shares of American Electric Power from $114.00 to $113.00 and set an “overweight” rating on the stock in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $108.31.

Insider Activity

In other American Electric Power news, EVP David Matthew Feinberg sold 8,058 shares of the 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 owned 10,274 shares of the company’s stock, valued at $1,045,276.76. This trade represents a 43.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Quinton S. Lies sold 10,141 shares of the 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 directly owned 9,658 shares of the company’s stock, valued at approximately $991,683.44. This trade represents a 51.22% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,314 shares of company stock valued at $3,508,293. 0.07% of the stock is currently owned by insiders.

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.