ProShare Advisors LLC Grows Position in American Electric Power Company, Inc. (NASDAQ:AEP)

ProShare Advisors LLC raised its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 21.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 582,692 shares of the company’s stock after buying an additional 103,771 shares during the quarter. ProShare Advisors LLC owned about 0.11% of American Electric Power worth $50,170,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of AEP. American Century Companies Inc. boosted its position in shares of American Electric Power by 2.9% during the 3rd quarter. American Century Companies Inc. now owns 227,551 shares of the company’s stock valued at $17,116,000 after acquiring an additional 6,461 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in American Electric Power by 75.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,249 shares of the company’s stock valued at $101,000 after buying an additional 536 shares during the last quarter. Wedmont Private Capital lifted its position in American Electric Power by 22.3% in the fourth quarter. Wedmont Private Capital now owns 4,572 shares of the company’s stock valued at $386,000 after buying an additional 834 shares during the last quarter. Southland Equity Partners LLC lifted its position in American Electric Power by 7.4% in the fourth quarter. Southland Equity Partners LLC now owns 3,169 shares of the company’s stock valued at $257,000 after buying an additional 218 shares during the last quarter. Finally, IFP Advisors Inc lifted its position in American Electric Power by 58.6% in the fourth quarter. IFP Advisors Inc now owns 15,399 shares of the company’s stock valued at $1,251,000 after buying an additional 5,687 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

Insider Transactions at American Electric Power

In related news, EVP Greg B. Hall sold 5,880 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $88.25, for a total transaction of $518,910.00. Following the completion of the sale, the executive vice president now directly owns 6,385 shares of the company’s stock, valued at $563,476.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other American Electric Power news, EVP Antonio P. Smyth sold 4,898 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now owns 6,446 shares of the company’s stock, valued at $580,140. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Greg B. Hall sold 5,880 shares of the firm’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $88.25, for a total value of $518,910.00. Following the completion of the sale, the executive vice president now directly owns 6,385 shares of the company’s stock, valued at approximately $563,476.25. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Morgan Stanley decreased their target price on shares of American Electric Power from $98.00 to $94.00 and set an “overweight” rating on the stock in a research report on Monday, June 24th. StockNews.com raised shares of American Electric Power from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Wells Fargo & Company increased their price target on shares of American Electric Power from $84.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. Barclays increased their price target on shares of American Electric Power from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Finally, Royal Bank of Canada increased their price target on shares of American Electric Power from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $88.62.

American Electric Power Stock Up 2.0 %

American Electric Power stock traded up $1.80 during mid-day trading on Wednesday, hitting $93.65. The company had a trading volume of 1,988,246 shares, compared to its average volume of 3,283,598. The stock has a market cap of $49.36 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 2.69 and a beta of 0.53. American Electric Power Company, Inc. has a 1 year low of $69.38 and a 1 year high of $94.18. The company has a quick ratio of 0.37, a current ratio of 0.54 and a debt-to-equity ratio of 1.50. The business has a fifty day moving average of $89.20 and a 200 day moving average of $84.80.

American Electric Power (NASDAQ:AEP) last announced 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. The business had revenue of $5 billion for the quarter, compared to analyst estimates of $5.02 billion. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the firm posted $1.11 earnings per share. On average, sell-side analysts expect that American Electric Power Company, Inc. will post 5.58 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were given a dividend of $0.88 per share. The ex-dividend date was Thursday, May 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.76%. American Electric Power’s dividend payout ratio (DPR) is presently 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.