American Electric Power Company, Inc. (NASDAQ:AEP) Stock Holdings Lessened by Toronto Dominion Bank

Toronto Dominion Bank cut its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 42.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 174,397 shares of the company’s stock after selling 128,346 shares during the period. Toronto Dominion Bank’s holdings in American Electric Power were worth $15,016,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of AEP. Denali Advisors LLC acquired a new position in shares of American Electric Power during the first quarter valued at $26,000. Rise Advisors LLC acquired a new stake in shares of American Electric Power in the 1st quarter worth approximately $27,000. Frazier Financial Advisors LLC bought a new position in shares of American Electric Power in the fourth quarter valued at approximately $26,000. YHB Investment Advisors Inc. acquired a new position in shares of American Electric Power during the first quarter valued at approximately $29,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of American Electric Power during the 4th quarter valued at $32,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Barclays boosted 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. StockNews.com upgraded shares of American Electric Power from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Guggenheim increased their price objective on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research report on Monday. Morgan Stanley reduced their price objective on 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. Finally, Wells Fargo & Company boosted their target price on 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. One equities research 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.com, American Electric Power currently has a consensus rating of “Hold” and a consensus target price of $88.77.

Insider Buying and Selling

In other news, EVP Antonio P. Smyth sold 4,898 shares of the firm’s 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 completion of the sale, the executive vice president now directly owns 6,446 shares of the company’s stock, valued at approximately $580,140. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other American Electric Power news, EVP Antonio P. Smyth sold 4,898 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were 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 directly owns 6,446 shares of the company’s stock, valued at $580,140. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 transaction of $518,910.00. Following the transaction, the executive vice president now owns 6,385 shares in the company, valued at approximately $563,476.25. The disclosure for this sale can be found here. 0.12% of the stock is owned by corporate insiders.

American Electric Power Stock Up 0.6 %

NASDAQ:AEP traded up $0.61 during trading hours on Friday, hitting $96.45. 2,275,126 shares of the company’s stock traded hands, compared to its average volume of 3,257,694. American Electric Power Company, Inc. has a twelve month low of $69.38 and a twelve month high of $97.32. The firm has a market cap of $50.84 billion, a P/E ratio of 17.89, a P/E/G ratio of 2.74 and a beta of 0.53. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.37 and a current ratio of 0.54. The stock’s fifty day moving average price is $89.65 and its two-hundred day moving average price is $85.40.

American Electric Power (NASDAQ:AEP) last posted its quarterly 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 business had revenue of $5 billion during the quarter, compared to analyst estimates of $5.02 billion. During the same period in the prior year, the firm earned $1.11 earnings per share. The firm’s revenue was up 6.4% compared to the same quarter last year. On average, research analysts expect that American Electric Power Company, Inc. will post 5.59 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend is Friday, August 9th. American Electric Power’s dividend payout ratio (DPR) is presently 65.31%.

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.