Hennion & Walsh Asset Management Inc. Sells 300 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Hennion & Walsh Asset Management Inc. lessened its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.8% in the second quarter, HoldingsChannel.com reports. The fund owned 16,746 shares of the company’s stock after selling 300 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in American Electric Power were worth $1,469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of AEP. Hodges Capital Management Inc. acquired a new position in shares of American Electric Power in the first quarter valued at $1,615,000. Quantbot Technologies LP bought a new position in American Electric Power in the 1st quarter valued at about $1,731,000. Nordea Investment Management AB lifted its position in American Electric Power by 381.9% during the first quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock worth $171,127,000 after acquiring an additional 1,581,734 shares during the last quarter. Mizuho Markets Americas LLC boosted its holdings in shares of American Electric Power by 646.9% during the first quarter. Mizuho Markets Americas LLC now owns 261,440 shares of the company’s stock worth $22,510,000 after acquiring an additional 226,435 shares during the period. Finally, ProShare Advisors LLC grew its position in shares of American Electric Power by 21.7% in the first quarter. ProShare Advisors LLC now owns 582,692 shares of the company’s stock valued at $50,170,000 after purchasing an additional 103,771 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at American Electric Power

In other news, EVP Antonio P. Smyth sold 4,898 shares of American Electric Power stock in a transaction on Wednesday, June 5th. The shares were 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 $580,140. The sale was disclosed in a document filed with the SEC, which is available 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 shares were sold at an average price of $88.25, for a total transaction of $518,910.00. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Antonio P. Smyth sold 4,898 shares of the business’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 completion of the transaction, the executive vice president now owns 6,446 shares in the company, valued at approximately $580,140. The disclosure for this sale can be found here. 0.12% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on AEP shares. LADENBURG THALM/SH SH raised American Electric Power from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $73.00 to $86.00 in a report on Thursday, June 6th. Scotiabank boosted their target price on shares of American Electric Power from $90.00 to $99.00 and gave the company a “sector outperform” rating in a research report on Wednesday, July 31st. Wells Fargo & Company raised 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 report on Wednesday, May 1st. StockNews.com upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Finally, BMO Capital Markets increased their target price on shares of American Electric Power from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $93.38.

American Electric Power Stock Up 0.6 %

AEP stock opened at $97.54 on Tuesday. The firm has a 50-day moving average price of $92.41 and a 200-day moving average price of $87.60. American Electric Power Company, Inc. has a 12 month low of $69.38 and a 12 month high of $104.41. The company has a current ratio of 0.65, a quick ratio of 0.37 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $51.42 billion, a P/E ratio of 18.10, a price-to-earnings-growth ratio of 2.92 and a beta of 0.53.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.23 by $0.02. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the prior year, the firm earned $1.13 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. As a group, equities research analysts anticipate that American Electric Power Company, Inc. will post 5.59 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Friday, August 9th. American Electric Power’s dividend payout ratio is currently 65.31%.

About American Electric Power

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.