Brooklyn Investment Group Grows Stock Holdings in American Electric Power Company, Inc. $AEP

Brooklyn Investment Group increased its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 71.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,970 shares of the company’s stock after buying an additional 2,480 shares during the quarter. Brooklyn Investment Group’s holdings in American Electric Power were worth $652,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Corient IA LLC purchased a new position in shares of American Electric Power during the first quarter worth about $382,000. Ethos Financial Group LLC purchased a new position in shares of American Electric Power during the first quarter worth about $1,587,000. Northwest & Ethical Investments L.P. grew its holdings in shares of American Electric Power by 15.7% during the first quarter. Northwest & Ethical Investments L.P. now owns 210,653 shares of the company’s stock worth $23,018,000 after buying an additional 28,634 shares during the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of American Electric Power by 22.2% during the first quarter. Steward Partners Investment Advisory LLC now owns 60,701 shares of the company’s stock worth $6,633,000 after buying an additional 11,046 shares during the last quarter. Finally, Tyler Stone Wealth Management purchased a new position in shares of American Electric Power during the first quarter worth about $204,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Trading Down 1.2%

Shares of American Electric Power stock opened at $110.70 on Tuesday. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.55 and a quick ratio of 0.41. American Electric Power Company, Inc. has a 1 year low of $89.91 and a 1 year high of $115.36. The company has a market capitalization of $59.20 billion, a P/E ratio of 16.18, a P/E/G ratio of 2.97 and a beta of 0.40. The business has a 50 day moving average price of $106.90 and a 200 day moving average price of $105.17.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.16. American Electric Power had a return on equity of 11.55% and a net margin of 17.68%. The firm had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the previous year, the firm posted $1.25 EPS. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. Sell-side analysts anticipate that American Electric Power Company, Inc. will post 5.87 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 8th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Friday, August 8th. American Electric Power’s payout ratio is currently 54.39%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AEP shares. Guggenheim lifted their price objective on American Electric Power from $109.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. Citigroup lifted their price objective on American Electric Power from $102.00 to $109.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. BMO Capital Markets lifted their price objective on American Electric Power from $111.00 to $115.00 and gave the company an “outperform” rating in a report on Monday, April 21st. Morgan Stanley lowered their price objective on American Electric Power from $114.00 to $113.00 and set an “overweight” rating on the stock in a report on Thursday, May 22nd. Finally, Wells Fargo & Company increased their price target 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 investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, American Electric Power currently has a consensus rating of “Hold” and an average price target of $111.29.

Insider Activity

In other American Electric Power news, EVP David Matthew Feinberg sold 8,058 shares of the business’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $101.74, for a total value 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders sold 24,173 shares of company stock worth $2,467,015. Insiders own 0.07% of the company’s stock.

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.