American Electric Power Company Inc (NYSE:AEP) Shares Bought by GWM Advisors LLC

GWM Advisors LLC lifted its stake in American Electric Power Company Inc (NYSE:AEP) by 4.0% in the second quarter, HoldingsChannel reports. The fund owned 21,059 shares of the utilities provider’s stock after purchasing an additional 814 shares during the quarter. GWM Advisors LLC’s holdings in American Electric Power were worth $1,853,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Meeder Asset Management Inc. lifted its stake in American Electric Power by 383.6% during the second quarter. Meeder Asset Management Inc. now owns 2,307 shares of the utilities provider’s stock valued at $203,000 after purchasing an additional 1,830 shares during the last quarter. Usca Ria LLC acquired a new stake in American Electric Power during the second quarter valued at approximately $1,224,000. McKinley Carter Wealth Services Inc. lifted its stake in American Electric Power by 11.1% during the second quarter. McKinley Carter Wealth Services Inc. now owns 3,235 shares of the utilities provider’s stock valued at $285,000 after purchasing an additional 323 shares during the last quarter. Penobscot Investment Management Company Inc. raised its holdings in shares of American Electric Power by 5.0% during the second quarter. Penobscot Investment Management Company Inc. now owns 4,166 shares of the utilities provider’s stock valued at $367,000 after acquiring an additional 200 shares during the period. Finally, Tarbox Family Office Inc. raised its holdings in shares of American Electric Power by 38.9% during the second quarter. Tarbox Family Office Inc. now owns 436 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 122 shares during the period. 74.54% of the stock is owned by institutional investors.

A number of equities research analysts have recently issued reports on AEP shares. Zacks Investment Research upgraded shares of American Electric Power from a “sell” rating to a “hold” rating and set a $96.00 price target on the stock in a report on Thursday, July 11th. UBS Group boosted their price target on shares of American Electric Power from $94.00 to $100.00 and gave the company a “buy” rating in a report on Friday, July 12th. SunTrust Banks boosted their price target on shares of American Electric Power from $98.00 to $99.00 and gave the company a “buy” rating in a report on Monday, August 12th. Wolfe Research set a $89.00 price target on shares of American Electric Power and gave the company a “buy” rating in a report on Friday, April 26th. Finally, KeyCorp started coverage on shares of American Electric Power in a report on Tuesday, June 4th. They set a “sector weight” rating on the stock. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $88.33.

Shares of AEP stock traded up $0.26 during trading hours on Tuesday, reaching $90.81. 28,970 shares of the stock traded hands, compared to its average volume of 2,328,645. American Electric Power Company Inc has a 1-year low of $68.92 and a 1-year high of $91.99. The business has a fifty day moving average price of $89.77 and a 200 day moving average price of $85.77. The company has a quick ratio of 0.36, a current ratio of 0.49 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $44.56 billion, a PE ratio of 22.91, a PEG ratio of 3.86 and a beta of 0.13.

American Electric Power (NYSE:AEP) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.02. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $4.13 billion. American Electric Power had a net margin of 12.53% and a return on equity of 10.69%. The company’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.01 EPS. Research analysts expect that American Electric Power Company Inc will post 4.13 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be paid a $0.67 dividend. The ex-dividend date is Thursday, August 8th. This represents a $2.68 annualized dividend and a yield of 2.95%. American Electric Power’s dividend payout ratio is presently 67.85%.

In other American Electric Power news, VP Brian X. Tierney sold 4,458 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $89.73, for a total value of $400,016.34. Following the transaction, the vice president now owns 39,745 shares in the company, valued at approximately $3,566,318.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Paul Chodak III sold 1,303 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $86.52, for a total transaction of $112,735.56. Following the completion of the transaction, the executive vice president now owns 8,152 shares in the company, valued at approximately $705,311.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,513 shares of company stock worth $669,398. Company insiders own 0.16% of the company’s stock.

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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

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Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

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