TRU Independence Asset Management 2 LLC Makes New Investment in American Electric Power Company, Inc. (NASDAQ:AEP)


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TRU Independence Asset Management 2 LLC purchased a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 523 shares of the company’s stock, valued at approximately $44,000.

Other institutional investors also recently added to or reduced their stakes in the company. ELM Advisors LLC purchased a new stake in shares of American Electric Power in the 4th quarter valued at approximately $25,000. MV Capital Management Inc. raised its stake in shares of American Electric Power by 200.0% in the 4th quarter. MV Capital Management Inc. now owns 300 shares of the company’s stock valued at $25,000 after acquiring an additional 200 shares during the period. Greenhouse Wealth Management LLC purchased a new stake in shares of American Electric Power in the 4th quarter valued at approximately $25,000. Clearview Wealth Advisors LLC acquired a new position in shares of American Electric Power in the fourth quarter valued at approximately $28,000. Finally, Zeit Capital LLC acquired a new position in shares of American Electric Power in the fourth quarter valued at approximately $29,000. 75.01% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director J Barnie Beasley sold 2,048 shares of the stock in a transaction dated Monday, March 1st. The shares were sold at an average price of $76.71, for a total value of $157,102.08. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Charles R. Patton sold 14,791 shares of the stock in a transaction dated Tuesday, March 23rd. The shares were sold at an average price of $85.00, for a total transaction of $1,257,235.00. Following the completion of the sale, the executive vice president now directly owns 29,367 shares in the company, valued at $2,496,195. The disclosure for this sale can be found here. Over the last three months, insiders sold 118,935 shares of company stock worth $9,204,606. 0.16% of the stock is owned by corporate insiders.

AEP has been the subject of a number of research reports. Guggenheim upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating and set a $93.00 price objective for the company in a report on Wednesday, January 20th. The Goldman Sachs Group cut shares of American Electric Power from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $90.00 to $83.00 in a report on Thursday, January 14th. Mizuho assumed coverage on shares of American Electric Power in a report on Monday, December 14th. They issued a “buy” rating and a $84.00 price objective for the company. Wells Fargo & Company cut shares of American Electric Power from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $101.00 to $88.00 in a report on Wednesday, January 6th. Finally, Morgan Stanley boosted their price target on shares of American Electric Power from $98.00 to $99.00 and gave the stock an “overweight” rating in a report on Thursday, March 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. American Electric Power currently has an average rating of “Buy” and an average price target of $92.33.

NASDAQ:AEP opened at $86.69 on Thursday. The company has a quick ratio of 0.34, a current ratio of 0.48 and a debt-to-equity ratio of 1.36. American Electric Power Company, Inc. has a fifty-two week low of $74.80 and a fifty-two week high of $94.21. The stock has a market cap of $43.06 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 3.00 and a beta of 0.22. The firm’s fifty day simple moving average is $81.22 and its 200-day simple moving average is $82.43.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings results on Wednesday, February 24th. The company reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.08. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.97 billion. American Electric Power had a net margin of 12.82% and a return on equity of 10.19%. The business’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 EPS. Equities analysts anticipate that American Electric Power Company, Inc. will post 4.33 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 10th. Investors of record on Wednesday, February 10th were paid a $0.74 dividend. The ex-dividend date was Tuesday, February 9th. This represents a $2.96 dividend on an annualized basis and a yield of 3.41%. American Electric Power’s payout ratio is 69.81%.

American Electric Power Profile

American Electric Power Co, Inc engages in the business of generation, transmission and distribution of electricity. It operates through the following segments: Vertically Integrated Utilities, Transmission & Distribution Utilities, AEP Transmission Holdco and Generation & Marketing. The Vertically Integrated Utilities segment engages in the generation, transmission and distribution of electricity for sale to retail and wholesale customers through assets owned and operated by its subsidiaries.

Further Reading: What does an outperform rating mean?

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

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