Carson Advisory Inc. Takes Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Carson Advisory Inc. acquired a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) during the 1st quarter, Holdings Channel reports. The fund acquired 1,977 shares of the company’s stock, valued at approximately $216,000.

Several other institutional investors have also added to or reduced their stakes in AEP. EQ Wealth Advisors LLC bought a new stake in American Electric Power during the 1st quarter worth about $25,000. Fourth Dimension Wealth LLC bought a new stake in shares of American Electric Power in the 4th quarter valued at about $28,000. Bank of New Hampshire acquired a new position in American Electric Power in the 1st quarter valued at about $28,000. Lee Danner & Bass Inc. acquired a new position in American Electric Power in the 4th quarter valued at about $38,000. Finally, Park Square Financial Group LLC acquired a new position in American Electric Power in the 4th quarter valued at about $39,000. 75.24% of the stock is owned by institutional investors.

American Electric Power Price Performance

AEP stock opened at $105.93 on Friday. American Electric Power Company, Inc. has a 12-month low of $89.91 and a 12-month high of $110.48. The company has a quick ratio of 0.31, a current ratio of 0.42 and a debt-to-equity ratio of 1.42. The firm has a market cap of $56.59 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 2.80 and a beta of 0.42. The company’s fifty day simple moving average is $102.86 and its 200 day simple moving average is $102.61.

American Electric Power (NASDAQ:AEP) last posted its quarterly 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. The firm had revenue of $5.46 billion during the quarter, compared to the consensus estimate 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 revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.27 earnings per share. On average, analysts expect that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The firm also recently announced 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. This represents a $3.72 annualized dividend and a dividend yield of 3.51%. The ex-dividend date was Friday, May 9th. American Electric Power’s payout ratio is presently 71.68%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. BMO Capital Markets increased their target price on shares of American Electric Power from $111.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, April 21st. Wells Fargo & Company increased their price target on shares of American Electric Power from $107.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 7th. Guggenheim raised their target price on shares of American Electric Power from $109.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Barclays raised 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 research report on Tuesday, April 22nd. Finally, Morgan Stanley cut their price target on shares of American Electric Power from $114.00 to $113.00 and set an “overweight” rating on the stock in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $108.31.

Insider Activity

In related news, EVP Quinton S. Lies sold 10,141 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president directly owned 9,658 shares in the company, valued at approximately $991,683.44. The trade was a 51.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David Matthew Feinberg sold 8,058 shares of the business’s stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $101.74, for a total transaction of $819,820.92. Following the transaction, the executive vice president owned 10,274 shares in the company, valued at approximately $1,045,276.76. This trade represents a 43.96% decrease in their ownership of the stock. 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. 0.07% of the stock is currently owned by insiders.

American Electric Power Company 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.