Allen Mooney & Barnes Investment Advisors LLC Purchases 2,454 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Allen Mooney & Barnes Investment Advisors LLC raised its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 1.7% in the first quarter, Holdings Channel.com reports. The fund owned 148,250 shares of the company’s stock after buying an additional 2,454 shares during the quarter. American Electric Power comprises approximately 2.6% of Allen Mooney & Barnes Investment Advisors LLC’s holdings, making the stock its 8th largest position. Allen Mooney & Barnes Investment Advisors LLC’s holdings in American Electric Power were worth $16,199,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AEP. Skandinaviska Enskilda Banken AB publ purchased a new position in American Electric Power in the fourth quarter valued at about $25,000. Fourth Dimension Wealth LLC acquired a new stake in American Electric Power during the 4th quarter valued at $28,000. Bank of New Hampshire purchased a new stake in American Electric Power during the 1st quarter worth $28,000. Fairway Wealth LLC purchased a new stake in American Electric Power during the 4th quarter worth $32,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in American Electric Power in the 4th quarter worth $35,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American Electric Power Price Performance

Shares of NASDAQ:AEP opened at $101.94 on Thursday. The company has a market cap of $54.46 billion, a PE ratio of 18.20, a P/E/G ratio of 2.97 and a beta of 0.42. American Electric Power Company, Inc. has a fifty-two week low of $85.93 and a fifty-two week high of $110.48. The firm has a 50-day simple moving average of $104.11 and a 200 day simple moving average of $101.06. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46.

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

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were paid a dividend of $0.93 per share. The ex-dividend date was Friday, May 9th. This represents a $3.72 dividend on an annualized basis and a yield of 3.65%. American Electric Power’s payout ratio is currently 71.68%.

Wall Street Analyst Weigh In

AEP has been the topic of a number of analyst reports. Guggenheim lifted their target price on American Electric Power from $109.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Citigroup raised their price objective on American Electric Power from $102.00 to $109.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. Wells Fargo & Company upped their price target on shares of American Electric Power from $107.00 to $114.00 and gave the company an “equal weight” rating in a report on Wednesday, May 7th. BMO Capital Markets boosted their target price on shares of American Electric Power from $111.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, April 21st. Finally, Morgan Stanley cut their target price on shares of American Electric Power from $114.00 to $113.00 and set an “overweight” rating on the stock in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $107.75.

Insider Buying and Selling

In other American Electric Power news, EVP Quinton S. Lies sold 10,141 shares of the firm’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $102.68, for a total value of $1,041,277.88. Following the sale, the executive vice president now owns 9,658 shares in the company, valued at approximately $991,683.44. This trade represents 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 8,057 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $102.94, for a total value of $829,387.58. Following the transaction, the executive vice president now owns 26,298 shares of the company’s stock, valued at approximately $2,707,116.12. This represents a 23.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,256 shares of company stock worth $2,688,472 in the last three months. 0.07% of the stock is owned by 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.