Premier Path Wealth Partners LLC Has $529,000 Stock Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Premier Path Wealth Partners LLC increased its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 3.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 6,029 shares of the company’s stock after purchasing an additional 223 shares during the period. Premier Path Wealth Partners LLC’s holdings in American Electric Power were worth $529,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Hodges Capital Management Inc. bought a new stake in shares of American Electric Power during the 1st quarter worth $1,615,000. Quantbot Technologies LP bought a new stake in shares of American Electric Power during the 1st quarter worth $1,731,000. Nordea Investment Management AB raised its position in American Electric Power by 381.9% in the first quarter. Nordea Investment Management AB now owns 1,995,884 shares of the company’s stock valued at $171,127,000 after purchasing an additional 1,581,734 shares during the last quarter. Mizuho Markets Americas LLC raised its position in American Electric Power by 646.9% in the first quarter. Mizuho Markets Americas LLC now owns 261,440 shares of the company’s stock valued at $22,510,000 after purchasing an additional 226,435 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in American Electric Power by 21.7% in the first quarter. ProShare Advisors LLC now owns 582,692 shares of the company’s stock valued at $50,170,000 after purchasing an additional 103,771 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Greg B. Hall sold 5,880 shares of American Electric Power stock in a transaction on 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 in the company, valued at $563,476.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Greg B. Hall sold 5,880 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 6,385 shares in the company, valued at $563,476.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Antonio P. Smyth sold 4,898 shares of the business’s 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 transaction, the executive vice president now 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 owned by company insiders.

American Electric Power Stock Down 0.0 %

NASDAQ AEP traded down $0.04 on Friday, reaching $98.25. The company had a trading volume of 3,530,580 shares, compared to its average volume of 3,261,789. American Electric Power Company, Inc. has a 52-week low of $69.38 and a 52-week high of $104.41. The company has a quick ratio of 0.37, a current ratio of 0.65 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $51.79 billion, a P/E ratio of 18.23, a P/E/G ratio of 2.92 and a beta of 0.53. The company’s fifty day moving average is $93.21 and its 200 day moving average is $88.03.

American Electric Power (NASDAQ:AEP) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.02. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the prior year, the company earned $1.13 EPS. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. Sell-side analysts anticipate that American Electric Power Company, Inc. will post 5.59 earnings per share for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors 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 dividend on an annualized basis and a yield of 3.58%. American Electric Power’s dividend payout ratio is 65.31%.

Analyst Upgrades and Downgrades

Several research firms have commented on AEP. BMO Capital Markets increased their target price on American Electric Power from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. StockNews.com upgraded American Electric Power from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Wells Fargo & Company raised their price objective 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. JPMorgan Chase & Co. raised their price objective on American Electric Power from $101.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Finally, Guggenheim raised their price objective on American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Two analysts have 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, American Electric Power presently has a consensus rating of “Hold” and a consensus target price of $94.69.

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.