Sumitomo Mitsui Trust Holdings Inc. Boosts Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 1.6% in the first quarter, HoldingsChannel.com reports. The firm owned 1,389,249 shares of the company’s stock after acquiring an additional 22,048 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in American Electric Power were worth $119,614,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AEP. Eagle Ridge Investment Management purchased a new stake in shares of American Electric Power in the 1st quarter valued at approximately $204,000. Capital Advisors Ltd. LLC raised its position in American Electric Power by 27.4% in the first quarter. Capital Advisors Ltd. LLC now owns 869 shares of the company’s stock valued at $75,000 after purchasing an additional 187 shares during the period. Claro Advisors LLC lifted its stake in American Electric Power by 1.5% during the first quarter. Claro Advisors LLC now owns 11,026 shares of the company’s stock worth $949,000 after purchasing an additional 163 shares in the last quarter. Kowal Investment Group LLC purchased a new position in shares of American Electric Power during the first quarter worth $207,000. Finally, BKM Wealth Management LLC grew its stake in shares of American Electric Power by 35.0% in the first quarter. BKM Wealth Management LLC now owns 5,435 shares of the company’s stock valued at $468,000 after buying an additional 1,410 shares in the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Royal Bank of Canada increased their price target on shares of American Electric Power from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. LADENBURG THALM/SH SH raised shares of American Electric Power from a “sell” rating to a “neutral” rating and raised their price target for the company from $73.00 to $86.00 in a research report on Thursday, June 6th. Wells Fargo & Company upped their price objective on American Electric Power from $84.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. UBS Group lowered American Electric Power from a “neutral” rating to a “sell” rating and decreased their target price for the company from $86.00 to $83.00 in a report on Monday, March 11th. Finally, Morgan Stanley cut their price target on American Electric Power from $98.00 to $94.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $88.62.

Insider Activity

In related news, EVP Antonio P. Smyth sold 4,898 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $90.00, for a total transaction of $440,820.00. Following the transaction, the executive vice president now owns 6,446 shares in the company, valued at approximately $580,140. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other American Electric Power news, EVP Greg B. Hall sold 5,880 shares of the firm’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $88.25, for a total transaction of $518,910.00. Following the transaction, the executive vice president now directly owns 6,385 shares of the company’s stock, valued at approximately $563,476.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Antonio P. Smyth sold 4,898 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $90.00, for a total transaction of $440,820.00. Following the completion of the sale, the executive vice president now directly owns 6,446 shares of the company’s stock, valued at $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 opened at $87.56 on Thursday. The company has a market capitalization of $46.15 billion, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 2.60 and a beta of 0.53. 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 quick ratio of 0.37, a current ratio of 0.54 and a debt-to-equity ratio of 1.50. The stock has a 50 day moving average price of $88.90 and a 200 day moving average price of $84.25.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Tuesday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.02. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. The business had revenue of $5 billion during the quarter, compared to analysts’ expectations of $5.02 billion. During the same quarter in the prior year, the business posted $1.11 EPS. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. Research analysts predict that American Electric Power Company, Inc. will post 5.58 EPS for the current fiscal year.

American Electric Power Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend was Thursday, May 9th. American Electric Power’s dividend payout ratio (DPR) is currently 65.31%.

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.