Denali Advisors LLC Invests $26,000 in American Electric Power Company, Inc. (NASDAQ:AEP)

Denali Advisors LLC bought a new position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 300 shares of the company’s stock, valued at approximately $26,000.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of American Electric Power by 14.4% during the third quarter. Wellington Management Group LLP now owns 28,591,562 shares of the company’s stock worth $2,150,657,000 after buying an additional 3,589,451 shares during the last quarter. Nomura Holdings Inc. bought a new stake in American Electric Power in the fourth quarter valued at approximately $175,667,000. Envestnet Asset Management Inc. increased its stake in American Electric Power by 67.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,586,250 shares of the company’s stock valued at $210,055,000 after purchasing an additional 1,043,885 shares in the last quarter. Morgan Stanley increased its stake in American Electric Power by 4.1% in the third quarter. Morgan Stanley now owns 14,892,850 shares of the company’s stock valued at $1,120,240,000 after purchasing an additional 587,145 shares in the last quarter. Finally, First Financial Bankshares Inc bought a new stake in American Electric Power in the fourth quarter valued at approximately $47,326,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at American Electric Power

In other American Electric Power news, EVP Antonio P. Smyth sold 4,898 shares of American Electric Power stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $90.00, for a total transaction of $440,820.00. Following the transaction, the executive vice president now directly owns 6,446 shares of the company’s stock, valued at approximately $580,140. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Greg B. Hall sold 5,880 shares of American Electric Power stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $88.25, for a total value of $518,910.00. Following the completion of the transaction, the executive vice president now directly owns 6,385 shares of the company’s stock, valued at approximately $563,476.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Antonio P. Smyth sold 4,898 shares of American Electric Power stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $90.00, for a total value of $440,820.00. Following the completion of the transaction, the executive vice president now directly owns 6,446 shares of the company’s stock, valued at $580,140. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AEP shares. Barclays upped their target price on shares of American Electric Power from $84.00 to $88.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Morgan Stanley lowered their target price on shares of American Electric Power from $98.00 to $94.00 and set an “overweight” rating for the company in a research note on Monday, June 24th. Royal Bank of Canada upped their target price on shares of American Electric Power from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Scotiabank increased their price objective on shares of American Electric Power from $86.00 to $90.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, May 1st. Finally, BMO Capital Markets increased their price objective on shares of American Electric Power from $95.00 to $99.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $88.62.

American Electric Power Stock Performance

AEP stock traded down $0.06 during trading hours on Wednesday, reaching $87.56. The stock had a trading volume of 1,151,014 shares, compared to its average volume of 3,368,200. The stock has a market capitalization of $46.15 billion, a PE ratio of 16.24, a price-to-earnings-growth ratio of 2.60 and a beta of 0.53. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.54 and a quick ratio of 0.37. The stock has a 50-day simple moving average of $88.88 and a 200 day simple moving average of $84.23. American Electric Power Company, Inc. has a fifty-two week low of $69.38 and a fifty-two week high of $93.44.

American Electric Power (NASDAQ:AEP) last posted its earnings results on Tuesday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.02. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. The company had revenue of $5 billion during the quarter, compared to analysts’ expectations of $5.02 billion. During the same quarter last year, the company posted $1.11 EPS. American Electric Power’s quarterly revenue was up 6.4% compared to the same quarter last year. Analysts predict that American Electric Power Company, Inc. will post 5.58 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were paid a $0.88 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.02%. American Electric Power’s payout ratio is currently 65.31%.

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.