Bank of New York Mellon Corp Buys 30,138 Shares of American Electric Power Company, Inc. $AEP

Bank of New York Mellon Corp grew its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 0.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,654,322 shares of the company’s stock after buying an additional 30,138 shares during the period. Bank of New York Mellon Corp’s holdings in American Electric Power were worth $411,111,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AEP. Harbor Capital Advisors Inc. purchased a new position in American Electric Power during the third quarter valued at approximately $26,000. Meeder Asset Management Inc. purchased a new stake in shares of American Electric Power in the third quarter worth $26,000. Advantage Trust Co boosted its stake in American Electric Power by 57.1% during the second quarter. Advantage Trust Co now owns 275 shares of the company’s stock valued at $29,000 after buying an additional 100 shares during the period. Montag A & Associates Inc. boosted its stake in American Electric Power by 166.0% during the second quarter. Montag A & Associates Inc. now owns 282 shares of the company’s stock valued at $29,000 after buying an additional 176 shares during the period. Finally, GoalVest Advisory LLC grew its position in American Electric Power by 277.1% during the second quarter. GoalVest Advisory LLC now owns 313 shares of the company’s stock worth $32,000 after buying an additional 230 shares in the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at American Electric Power

In other American Electric Power news, Director Benjamin G. S. Fowke III sold 5,000 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $115.07, for a total value of $575,350.00. Following the transaction, the director owned 25,898 shares in the company, valued at approximately $2,980,082.86. The trade was a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

AEP has been the topic of several recent analyst reports. Barclays raised their price target on American Electric Power from $117.00 to $121.00 and gave the company an “equal weight” rating in a report on Thursday, January 22nd. Citigroup raised their target price on shares of American Electric Power from $111.00 to $132.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Evercore ISI reissued an “outperform” rating on shares of American Electric Power in a research note on Thursday, October 30th. The Goldman Sachs Group boosted their price target on shares of American Electric Power from $128.00 to $133.00 in a research note on Thursday, October 30th. Finally, JPMorgan Chase & Co. raised their price objective on shares of American Electric Power from $121.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $127.39.

American Electric Power Price Performance

Shares of American Electric Power stock opened at $119.21 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.69 and a quick ratio of 0.53. American Electric Power Company, Inc. has a one year low of $97.32 and a one year high of $124.80. The business’s 50 day simple moving average is $117.27 and its two-hundred day simple moving average is $114.85. The stock has a market capitalization of $63.67 billion, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 2.84 and a beta of 0.63.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Wednesday, October 29th. The company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). American Electric Power had a net margin of 17.23% and a return on equity of 11.00%. The company had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same period last year, the company posted $1.85 EPS. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. Analysts forecast that American Electric Power Company, Inc. will post 5.87 EPS for the current year.

American Electric Power Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 10th will be given a dividend of $0.95 per share. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $3.80 annualized dividend and a yield of 3.2%. American Electric Power’s dividend payout ratio is presently 55.39%.

American Electric Power Company Profile

American Electric Power (NASDAQ: AEP) is a major investor-owned electric utility headquartered in Columbus, Ohio. The company is primarily engaged in the generation, transmission and distribution of electricity, operating a diverse portfolio of power plants and an extensive high-voltage transmission network. AEP serves retail customers through its regulated utility subsidiaries and provides wholesale power and grid services across multiple regional markets in the United States.

Operations span the full utility value chain: AEP owns and operates generation assets that include fossil-fuel, natural gas, nuclear and hydropower facilities, and it has been adding renewable resources to its mix.