Wealth Enhancement Advisory Services LLC Increases Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Wealth Enhancement Advisory Services LLC boosted its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 9.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 152,028 shares of the company’s stock after acquiring an additional 13,038 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in American Electric Power were worth $13,090,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC raised its holdings in shares of American Electric Power by 24.8% in the third quarter. FMR LLC now owns 639,933 shares of the company’s stock valued at $48,136,000 after buying an additional 127,047 shares during the last quarter. Dark Forest Capital Management LP lifted its stake in shares of American Electric Power by 30.7% during the third quarter. Dark Forest Capital Management LP now owns 4,752 shares of the company’s stock valued at $357,000 after buying an additional 1,117 shares during the period. Algert Global LLC purchased a new position in shares of American Electric Power during the third quarter valued at approximately $240,000. Mutual Advisors LLC lifted its stake in shares of American Electric Power by 12.7% during the third quarter. Mutual Advisors LLC now owns 8,720 shares of the company’s stock valued at $656,000 after buying an additional 982 shares during the period. Finally, Vinva Investment Management Ltd lifted its stake in shares of American Electric Power by 4.9% during the third quarter. Vinva Investment Management Ltd now owns 3,448 shares of the company’s stock valued at $257,000 after buying an additional 160 shares during the period. 75.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. StockNews.com raised shares of American Electric Power from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Barclays increased their price target on shares of American Electric Power from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Wells Fargo & Company increased their price target on shares of American Electric Power from $84.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 1st. Morgan Stanley cut their price target on shares of American Electric Power from $98.00 to $94.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. Finally, Scotiabank increased their price target on shares of American Electric Power from $86.00 to $90.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, American Electric Power has an average rating of “Hold” and an average target price of $88.62.

Insider Activity at American Electric Power

In related news, EVP Greg B. Hall sold 5,880 shares of American Electric Power stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $88.25, for a total value of $518,910.00. Following the completion of the transaction, the executive vice president now directly owns 6,385 shares in the company, valued at $563,476.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other American Electric Power news, EVP Greg B. Hall sold 5,880 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $88.25, for a total transaction of $518,910.00. Following the transaction, the executive vice president now owns 6,385 shares of the company’s stock, valued at approximately $563,476.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Antonio P. Smyth sold 4,898 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $90.00, for a total value of $440,820.00. Following the transaction, the executive vice president now directly owns 6,446 shares in the company, valued at approximately $580,140. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

American Electric Power Stock Performance

Shares of AEP stock opened at $87.74 on Friday. The company’s fifty day simple moving average is $88.79 and its 200-day simple moving average is $84.13. American Electric Power Company, Inc. has a 52 week low of $69.38 and a 52 week high of $93.44. The company has a current ratio of 0.54, a quick ratio of 0.37 and a debt-to-equity ratio of 1.50. The company has a market cap of $46.25 billion, a PE ratio of 16.28, a P/E/G ratio of 2.58 and a beta of 0.53.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Tuesday, April 30th. The company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.02. The business had revenue of $5 billion during the quarter, compared to analyst estimates of $5.02 billion. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. The business’s revenue was up 6.4% on a year-over-year basis. During the same period last year, the business earned $1.11 EPS. As a group, equities research analysts anticipate that American Electric Power Company, Inc. will post 5.58 EPS for the current year.

American Electric Power Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date was Thursday, May 9th. American Electric Power’s payout ratio is 65.31%.

American Electric Power 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.