Brandywine Oak Private Wealth LLC Cuts Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Brandywine Oak Private Wealth LLC lessened its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 6.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,785 shares of the company’s stock after selling 873 shares during the period. Brandywine Oak Private Wealth LLC’s holdings in American Electric Power were worth $1,397,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AEP. EQ Wealth Advisors LLC purchased a new position in American Electric Power in the first quarter valued at approximately $25,000. Bank of New Hampshire purchased a new position in American Electric Power in the first quarter valued at approximately $28,000. Fourth Dimension Wealth LLC purchased a new position in American Electric Power in the fourth quarter valued at approximately $28,000. IMA Advisory Services Inc. purchased a new position in American Electric Power in the first quarter valued at approximately $35,000. Finally, North Capital Inc. purchased a new position in American Electric Power in the first quarter valued at approximately $39,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Morgan Stanley dropped their price objective on 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. Guggenheim upped their price objective on American Electric Power from $109.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. BMO Capital Markets upped their price objective on American Electric Power from $111.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday, April 21st. UBS Group boosted their target price on shares of American Electric Power from $95.00 to $100.00 and gave the company a “sell” rating in a report on Friday, June 6th. Finally, Wells Fargo & Company boosted their target price on shares of American Electric Power from $107.00 to $114.00 and gave the company an “equal weight” rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, American Electric Power presently has an average rating of “Hold” and an average target price of $108.31.

American Electric Power Trading Up 0.8%

American Electric Power stock opened at $109.79 on Friday. The stock has a market cap of $58.65 billion, a P/E ratio of 21.15, a PEG ratio of 2.89 and a beta of 0.42. American Electric Power Company, Inc. has a fifty-two week low of $89.91 and a fifty-two week high of $110.51. The firm’s fifty day moving average price is $103.77 and its 200-day moving average price is $103.33. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.31 and a current ratio of 0.42.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.14. The firm had revenue of $5.46 billion for 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.27 earnings per share. Equities research analysts forecast that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 8th will be issued a $0.93 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $3.72 annualized dividend and a dividend yield of 3.39%. American Electric Power’s 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 transaction, the executive vice president owned 9,658 shares of the company’s stock, valued at approximately $991,683.44. This represents a 51.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP David Matthew Feinberg sold 8,058 shares of the company’s stock in a transaction on Tuesday, June 17th. The stock was 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 directly owned 10,274 shares in the company, valued at approximately $1,045,276.76. The trade was a 43.96% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,314 shares of company stock worth $3,508,293. 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.