Pinnacle Wealth Planning Services Inc. Purchases New Position in American Electric Power Company, Inc. (NASDAQ:AEP)

Pinnacle Wealth Planning Services Inc. purchased a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,889 shares of the company’s stock, valued at approximately $249,000.

A number of other large investors have also recently modified their holdings of AEP. Frazier Financial Advisors LLC purchased a new stake in shares of American Electric Power in the fourth quarter valued at approximately $26,000. Denali Advisors LLC bought a new stake in American Electric Power during the 1st quarter valued at $26,000. Rise Advisors LLC bought a new stake in American Electric Power during the 1st quarter valued at $27,000. YHB Investment Advisors Inc. bought a new stake in American Electric Power during the 1st quarter valued at $29,000. Finally, Wetzel Investment Advisors Inc. bought a new stake in American Electric Power during the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Insider Buying and Selling at American Electric Power

In other American Electric Power news, EVP Antonio P. Smyth sold 4,898 shares of American Electric Power 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 transaction, the executive vice president now owns 6,446 shares in the company, valued at approximately $580,140. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Greg B. Hall sold 5,880 shares of the firm’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 sale, the executive vice president now directly owns 6,385 shares in the company, valued at approximately $563,476.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Antonio P. Smyth sold 4,898 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $90.00, for a total value of $440,820.00. Following the sale, the executive vice president now owns 6,446 shares in the company, valued at $580,140. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

American Electric Power Stock Performance

AEP stock traded down $0.35 during midday trading on Friday, reaching $93.14. The stock had a trading volume of 2,072,893 shares, compared to its average volume of 2,349,047. The stock has a market cap of $49.10 billion, a PE ratio of 17.28, a P/E/G ratio of 2.76 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 has a fifty day simple moving average of $89.34 and a two-hundred day simple moving average of $85.02. American Electric Power Company, Inc. has a 52-week low of $69.38 and a 52-week high of $94.72.

American Electric Power (NASDAQ:AEP) last issued 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 company had revenue of $5 billion during the quarter, compared to analyst estimates of $5.02 billion. American Electric Power had a return on equity of 11.23% and a net margin of 14.60%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the business posted $1.11 EPS. As a group, equities research analysts anticipate that American Electric Power Company, Inc. will post 5.58 EPS for the current year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were paid 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 3.78%. American Electric Power’s payout ratio is currently 65.31%.

Analyst Ratings Changes

Several analysts have issued reports on the company. StockNews.com raised American Electric Power from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Morgan Stanley dropped their target price on 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. Royal Bank of Canada increased their target price on American Electric Power from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Wells Fargo & Company increased their target price on American Electric Power from $84.00 to $89.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. Finally, Scotiabank increased their target price on American Electric Power from $86.00 to $90.00 and gave the company a “sector outperform” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $88.62.

American Electric Power Company 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.