Longboard Asset Management LP Purchases Shares of 1,862 American Electric Power Company, Inc. (NASDAQ:AEP)

Longboard Asset Management LP purchased a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,862 shares of the company’s stock, valued at approximately $203,000.

Other large investors have also recently added to or reduced their stakes in the company. EQ Wealth Advisors LLC bought a new position in shares of American Electric Power in the first quarter valued at about $25,000. TrueMark Investments LLC increased its position in American Electric Power by 9.8% during the first quarter. TrueMark Investments LLC now owns 46,947 shares of the company’s stock worth $5,130,000 after acquiring an additional 4,177 shares during the period. Prairie Wealth Advisors Inc. increased its position in American Electric Power by 12.4% during the first quarter. Prairie Wealth Advisors Inc. now owns 3,626 shares of the company’s stock worth $396,000 after acquiring an additional 400 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in American Electric Power by 8.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 140,864 shares of the company’s stock valued at $15,392,000 after buying an additional 11,067 shares during the period. Finally, EWA LLC acquired a new stake in American Electric Power during the 1st quarter worth approximately $237,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AEP shares. Citigroup boosted their price target on shares of American Electric Power from $102.00 to $109.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Barclays boosted their price target on shares of American Electric Power from $95.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 22nd. Guggenheim lifted their price objective on shares of American Electric Power from $109.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Raymond James Financial assumed coverage on shares of American Electric Power in a research note on Friday, June 13th. They issued an “outperform” rating and a $115.00 price objective for the company. Finally, UBS Group boosted their price target on shares of American Electric Power from $95.00 to $100.00 and gave the company a “sell” rating in a research note on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $108.31.

American Electric Power Price Performance

NASDAQ AEP opened at $101.75 on Monday. The company has a market cap of $54.35 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 2.70 and a beta of 0.42. American Electric Power Company, Inc. has a 52 week low of $85.93 and a 52 week high of $110.48. The company has a quick ratio of 0.31, a current ratio of 0.42 and a debt-to-equity ratio of 1.42. The firm’s 50-day simple moving average is $104.05 and its two-hundred day simple moving average is $101.27.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Tuesday, May 6th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.40 by $0.14. The business had revenue of $5.46 billion for the quarter, compared to the consensus estimate of $5.33 billion. American Electric Power had a net margin of 13.73% and a return on equity of 11.68%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.27 earnings per share. Research analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Dividend Announcement

The company 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 annualized dividend and a yield of 3.66%. American Electric Power’s dividend payout ratio is currently 71.68%.

Insiders Place Their Bets

In related news, EVP David Matthew Feinberg sold 8,058 shares of the company’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $101.74, for a total value of $819,820.92. Following the completion of the transaction, the executive vice president now directly owns 10,274 shares in the company, valued at approximately $1,045,276.76. The trade was a 43.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Quinton S. Lies sold 10,141 shares of American Electric Power stock in a transaction dated Monday, May 19th. The stock was 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 directly owns 9,658 shares of the company’s stock, valued at approximately $991,683.44. This trade represents a 51.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,314 shares of company stock worth $3,508,293 in the last three months. 0.07% of the stock is currently owned by corporate insiders.

American Electric Power 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.