Constitution Capital LLC Raises Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Constitution Capital LLC grew its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 67.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,360 shares of the company’s stock after buying an additional 2,150 shares during the quarter. Constitution Capital LLC’s holdings in American Electric Power were worth $586,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in AEP. Safeguard Investment Advisory Group LLC boosted its position in American Electric Power by 4.3% during the fourth quarter. Safeguard Investment Advisory Group LLC now owns 2,414 shares of the company’s stock worth $223,000 after purchasing an additional 100 shares in the last quarter. Marcum Wealth LLC boosted its position in American Electric Power by 3.0% during the first quarter. Marcum Wealth LLC now owns 3,468 shares of the company’s stock worth $379,000 after purchasing an additional 101 shares in the last quarter. SouthState Corp boosted its position in American Electric Power by 1.6% during the fourth quarter. SouthState Corp now owns 6,611 shares of the company’s stock worth $610,000 after purchasing an additional 102 shares in the last quarter. Ascent Group LLC boosted its position in American Electric Power by 0.4% during the fourth quarter. Ascent Group LLC now owns 27,889 shares of the company’s stock worth $2,572,000 after purchasing an additional 102 shares in the last quarter. Finally, Dark Forest Capital Management LP boosted its position in American Electric Power by 2.3% during the fourth quarter. Dark Forest Capital Management LP now owns 4,537 shares of the company’s stock worth $418,000 after purchasing an additional 103 shares in the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American Electric Power Stock Performance

Shares of American Electric Power stock opened at $101.79 on Friday. American Electric Power Company, Inc. has a one year low of $85.93 and a one year high of $110.48. The company has a market cap of $54.38 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 2.97 and a beta of 0.42. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44. The business’s 50 day moving average price is $104.43 and its 200 day moving average price is $100.97.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.14. American Electric Power had a return on equity of 11.27% and a net margin of 15.08%. The firm had revenue of $5.46 billion for the quarter, compared to the consensus estimate of $5.33 billion. During the same quarter last year, the business posted $1.27 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. On average, research analysts predict that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be given a dividend of $0.93 per share. The ex-dividend date is Friday, May 9th. This represents a $3.72 dividend on an annualized basis and a yield of 3.65%. American Electric Power’s payout ratio is 71.68%.

Analysts Set New Price Targets

AEP has been the topic of a number of recent analyst reports. Barclays increased their price target on American Electric Power from $95.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 22nd. Bank of America raised their target price on American Electric Power from $108.00 to $114.00 and gave the company a “buy” rating in a research report on Tuesday, March 18th. Citigroup raised 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. Wells Fargo & Company raised their target price on American Electric Power from $107.00 to $114.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 7th. Finally, Guggenheim raised their target price on American Electric Power from $109.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, American Electric Power currently has an average rating of “Hold” and an average target price of $107.75.

Insider Buying and Selling

In other American Electric Power news, EVP Quinton S. Lies sold 10,141 shares of the firm’s stock in a transaction on 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 completion of the sale, the executive vice president now owns 9,658 shares of the company’s stock, valued at $991,683.44. This trade represents a 51.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David Matthew Feinberg sold 8,057 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $2,707,116.12. This trade represents a 23.45% decrease in their position. The disclosure for this sale can be found here. 0.07% of the stock is currently owned by company 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.