Wealthcare Advisory Partners LLC Cuts Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Wealthcare Advisory Partners LLC trimmed its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 5.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 10,065 shares of the company’s stock after selling 531 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in American Electric Power were worth $1,100,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ bought a new position in American Electric Power during the 4th quarter valued at about $25,000. Fourth Dimension Wealth LLC bought a new position in American Electric Power during the 4th quarter valued at about $28,000. Bank of New Hampshire bought a new position in American Electric Power during the 1st quarter valued at about $28,000. Fairway Wealth LLC bought a new position in American Electric Power during the 4th quarter valued at about $32,000. Finally, Kestra Investment Management LLC bought a new position in American Electric Power during the 4th quarter valued at about $35,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

American Electric Power Trading Up 1.1%

American Electric Power stock opened at $103.02 on Friday. The stock has a market cap of $55.03 billion, a P/E ratio of 18.40, a PEG ratio of 2.97 and a beta of 0.42. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.44 and a quick ratio of 0.31. American Electric Power Company, Inc. has a 1 year low of $85.93 and a 1 year high of $110.48. The firm’s 50 day moving average price is $104.14 and its 200-day moving average price is $101.09.

American Electric Power (NASDAQ:AEP) last posted its earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.14. The firm had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.33 billion. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. American Electric Power’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the firm posted $1.27 earnings per share. On average, equities analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend was Friday, May 9th. American Electric Power’s dividend payout ratio is currently 71.68%.

Wall Street Analyst Weigh In

AEP has been the topic of several research analyst reports. BMO Capital Markets upped their target price on shares of American Electric Power from $111.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday, April 21st. Barclays raised their price objective on shares of American Electric Power from $95.00 to $106.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 22nd. Morgan Stanley dropped their price objective on shares of American Electric Power from $114.00 to $113.00 and set an “overweight” rating on the stock in a report on Thursday, May 22nd. Citigroup raised their price objective on shares of American Electric Power from $102.00 to $109.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. Finally, UBS Group raised their price objective on shares of American Electric Power from $95.00 to $100.00 and gave the stock a “sell” rating in a report on Friday, June 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $107.75.

Insider Activity

In other news, EVP Quinton S. Lies sold 10,141 shares of the business’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $102.68, for a total transaction of $1,041,277.88. Following the completion of the sale, the executive vice president now directly owns 9,658 shares of the company’s stock, valued at approximately $991,683.44. The trade was a 51.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David Matthew Feinberg sold 8,058 shares of American Electric Power stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $101.49, for a total value of $817,806.42. Following the completion of the sale, the executive vice president now owns 18,332 shares of the company’s stock, valued at $1,860,514.68. The trade was a 30.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,256 shares of company stock valued at $2,688,472. 0.07% of the stock is currently owned by company insiders.

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.