Everett Harris & Co. CA Sells 680 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Everett Harris & Co. CA cut its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 15.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,861 shares of the company’s stock after selling 680 shares during the period. Everett Harris & Co. CA’s holdings in American Electric Power were worth $332,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Adage Capital Partners GP L.L.C. bought a new position in American Electric Power in the 3rd quarter valued at $8,440,000. Lido Advisors LLC boosted its holdings in American Electric Power by 2.8% in the third quarter. Lido Advisors LLC now owns 9,232 shares of the company’s stock valued at $694,000 after acquiring an additional 253 shares during the last quarter. JT Stratford LLC acquired a new stake in American Electric Power in the third quarter worth about $222,000. JPMorgan Chase & Co. raised its holdings in American Electric Power by 26.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,531,672 shares of the company’s stock worth $190,432,000 after purchasing an additional 522,608 shares during the last quarter. Finally, Scotia Capital Inc. lifted its position in American Electric Power by 13.5% during the 3rd quarter. Scotia Capital Inc. now owns 171,868 shares of the company’s stock valued at $12,928,000 after purchasing an additional 20,442 shares during the period. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at American Electric Power

In related news, EVP Greg B. Hall sold 5,880 shares of the 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 completion of the transaction, the executive vice president now owns 6,385 shares in the company, valued at $563,476.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 sale, the executive vice president now owns 6,385 shares of the company’s stock, valued at $563,476.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Antonio P. Smyth sold 4,898 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were 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 of the company’s stock, valued at $580,140. The disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

American Electric Power Stock Performance

Shares of AEP stock opened at $87.36 on Friday. The company has a market capitalization of $46.05 billion, a P/E ratio of 16.24, a price-to-earnings-growth ratio of 2.59 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 debt-to-equity ratio of 1.50, a quick ratio of 0.37 and a current ratio of 0.54. The company’s 50 day moving average price is $88.92 and its two-hundred day moving average price is $84.28.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.02. The business had revenue of $5 billion for 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 firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the business posted $1.11 earnings per share. On average, analysts expect that American Electric Power Company, Inc. will post 5.58 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.03%. American Electric Power’s payout ratio is presently 65.31%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AEP. Royal Bank of Canada boosted 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 note on Friday, May 3rd. LADENBURG THALM/SH SH raised American Electric Power from a “sell” rating to a “neutral” rating and increased their price target for the company from $73.00 to $86.00 in a research note on Thursday, June 6th. BMO Capital Markets lifted their price objective on American Electric Power from $95.00 to $99.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 14th. Barclays increased their target price on American Electric Power from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Finally, StockNews.com upgraded American Electric Power from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $88.62.

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.