Energy Income Partners LLC Decreases Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Energy Income Partners LLC trimmed its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 17.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,431,856 shares of the company’s stock after selling 308,815 shares during the quarter. American Electric Power accounts for approximately 2.5% of Energy Income Partners LLC’s holdings, making the stock its 12th biggest holding. Energy Income Partners LLC owned approximately 0.27% of American Electric Power worth $123,283,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. raised its position in American Electric Power by 0.7% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 221,141 shares of the company’s stock worth $17,961,000 after purchasing an additional 1,582 shares during the period. Pacer Advisors Inc. raised its position in American Electric Power by 33.5% in the 4th quarter. Pacer Advisors Inc. now owns 96,632 shares of the company’s stock worth $7,848,000 after purchasing an additional 24,260 shares during the period. PFG Investments LLC purchased a new stake in American Electric Power in the 4th quarter worth about $240,000. IFG Advisory LLC purchased a new stake in American Electric Power in the 4th quarter worth about $202,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in American Electric Power in the 4th quarter worth about $211,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. LADENBURG THALM/SH SH raised shares of American Electric Power from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $73.00 to $86.00 in a research report on Thursday, June 6th. Wells Fargo & Company upped their target price on shares of American Electric Power from $84.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 1st. Scotiabank upped their target price on shares of American Electric Power from $86.00 to $90.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, May 1st. Guggenheim upped their target price on shares of American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Finally, Barclays upped their target price on shares of American Electric Power from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. One investment 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $88.77.

Insider Buying and Selling at American Electric Power

In other American Electric Power news, EVP Greg B. Hall sold 5,880 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $563,476.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other American Electric Power news, EVP Greg B. Hall sold 5,880 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $563,476.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction 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 approximately $580,140. The disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

American Electric Power Stock Up 0.6 %

Shares of NASDAQ AEP traded up $0.61 during midday trading on Friday, reaching $96.45. 2,275,133 shares of the company’s stock traded hands, compared to its average volume of 2,204,326. 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 stock’s 50 day simple moving average is $89.65 and its 200-day simple moving average is $85.43. American Electric Power Company, Inc. has a one year low of $69.38 and a one year high of $97.32. The company has a market cap of $50.84 billion, a price-to-earnings ratio of 17.89, a P/E/G ratio of 2.78 and a beta of 0.53.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Tuesday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $5 billion for the quarter, compared to the consensus estimate of $5.02 billion. During the same period last year, the firm earned $1.11 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. On average, analysts predict that American Electric Power Company, Inc. will post 5.59 EPS for the current fiscal year.

American Electric Power Announces Dividend

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