American Electric Power Company, Inc. (NASDAQ:AEP) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,803,822 shares of the company’s stock after selling 58,592 shares during the quarter. Bank of New York Mellon Corp owned 0.72% of American Electric Power worth $333,747,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Frazier Financial Advisors LLC acquired a new position in shares of American Electric Power in the 4th quarter worth approximately $26,000. Denali Advisors LLC acquired a new position in American Electric Power in the first quarter worth $26,000. Rise Advisors LLC bought a new stake in American Electric Power during the first quarter valued at $27,000. YHB Investment Advisors Inc. acquired a new stake in shares of American Electric Power during the first quarter worth $29,000. Finally, LRI Investments LLC lifted its position in shares of American Electric Power by 935.9% in the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after buying an additional 365 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

American Electric Power Trading Up 0.8 %

Shares of NASDAQ AEP opened at $99.02 on Tuesday. The business has a 50-day moving average price of $93.21 and a two-hundred day moving average price of $88.18. American Electric Power Company, Inc. has a one year low of $69.38 and a one year high of $104.41. The firm has a market capitalization of $52.20 billion, a PE ratio of 18.37, a PEG ratio of 2.92 and a beta of 0.53. The company has a current ratio of 0.65, a quick ratio of 0.37 and a debt-to-equity ratio of 1.53.

American Electric Power (NASDAQ:AEP) last issued its earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter last year, the business posted $1.13 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, analysts predict that American Electric Power Company, Inc. will post 5.59 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be issued a dividend of $0.88 per share. The ex-dividend date is Friday, August 9th. This represents a $3.52 annualized dividend and a dividend yield of 3.55%. American Electric Power’s dividend payout ratio is 65.31%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AEP shares. Wells Fargo & Company raised their price target on American Electric Power from $84.00 to $89.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 1st. BMO Capital Markets upped 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. Royal Bank of Canada boosted their price objective on American Electric Power from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. StockNews.com raised shares of American Electric Power from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Finally, Bank of America downgraded American Electric Power from a “neutral” rating to an “underperform” rating and boosted their price objective for the stock from $96.00 to $97.00 in a research note on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, American Electric Power has an average rating of “Hold” and an average price target of $94.69.

Insider Buying and Selling

In other American Electric Power news, EVP Antonio P. Smyth sold 4,898 shares of the business’s 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 completion of the sale, the executive vice president now directly owns 6,446 shares of the company’s stock, valued at $580,140. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Greg B. Hall sold 5,880 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 6,385 shares in the company, valued at approximately $563,476.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Antonio P. Smyth sold 4,898 shares of the company’s stock in a transaction 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 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. 0.12% of the stock is currently owned by corporate insiders.

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.