Whalerock Point Partners LLC Sells 283 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Whalerock Point Partners LLC decreased its holdings in American Electric Power Company, Inc. (NASDAQ:AEP) by 1.0% during the 1st quarter, Holdings Channel.com reports. The fund owned 26,856 shares of the company’s stock after selling 283 shares during the quarter. Whalerock Point Partners LLC’s holdings in American Electric Power were worth $2,312,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Nomura Holdings Inc. bought a new position in shares of American Electric Power during the 4th quarter worth approximately $175,667,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of American Electric Power by 542.4% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,282,571 shares of the company’s stock worth $193,541,000 after buying an additional 1,927,234 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of American Electric Power by 381.9% during the 1st quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock worth $171,127,000 after buying an additional 1,581,734 shares in the last quarter. National Bank of Canada FI lifted its position in shares of American Electric Power by 221.9% during the 1st quarter. National Bank of Canada FI now owns 1,715,346 shares of the company’s stock worth $157,140,000 after buying an additional 1,182,451 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of American Electric Power by 67.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 2,586,250 shares of the company’s stock worth $210,055,000 after buying an additional 1,043,885 shares in the last quarter. Institutional investors own 75.24% of the company’s stock.

Insider Activity

In related news, insider Therace Risch 5,274 shares of American Electric Power stock in a transaction dated Tuesday, July 30th. The was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Antonio P. Smyth sold 4,898 shares of American Electric Power stock in a transaction on Wednesday, June 5th. The shares were 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Therace Risch 5,274 shares of the company’s stock in a transaction on Tuesday, July 30th. The disclosure for this trade can be found here. Company insiders own 0.12% of the company’s stock.

American Electric Power Stock Performance

American Electric Power stock traded up $1.07 during mid-day trading on Tuesday, reaching $98.14. The company’s stock had a trading volume of 3,978,786 shares, compared to its average volume of 3,256,450. American Electric Power Company, Inc. has a 12-month low of $69.38 and a 12-month high of $98.18. The company has a market capitalization of $51.73 billion, a P/E ratio of 18.21, a PEG ratio of 2.78 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 firm’s fifty day moving average price is $89.85 and its two-hundred day moving average price is $85.67.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.02. The firm had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.74 billion. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.13 EPS. Sell-side analysts predict that American Electric Power Company, Inc. will post 5.59 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be given a dividend of $0.88 per share. The ex-dividend date is Friday, August 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.59%. American Electric Power’s dividend payout ratio (DPR) is currently 65.31%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on AEP shares. Scotiabank lifted 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 report on Wednesday, May 1st. Morgan Stanley decreased their price target 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. BMO Capital Markets raised their price target on shares of American Electric Power from $100.00 to $104.00 and gave the stock an “outperform” rating in a research note on Monday. Royal Bank of Canada raised 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 note on Friday, May 3rd. Finally, LADENBURG THALM/SH SH upgraded shares of American Electric Power from a “sell” rating to a “neutral” rating and raised their price target for the stock from $73.00 to $86.00 in a research note on Thursday, June 6th. One 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $89.15.

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.