American Electric Power Company, Inc. (NASDAQ:AEP) Shares Bought by Carnegie Investment Counsel

Carnegie Investment Counsel lifted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 3.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,511 shares of the company’s stock after buying an additional 188 shares during the period. Carnegie Investment Counsel’s holdings in American Electric Power were worth $483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in American Electric Power by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 49,630,436 shares of the company’s stock valued at $4,273,181,000 after buying an additional 405,114 shares during the period. Lazard Asset Management LLC boosted its holdings in American Electric Power by 9.9% in the first quarter. Lazard Asset Management LLC now owns 8,586,577 shares of the company’s stock valued at $739,303,000 after purchasing an additional 776,965 shares during the period. Charles Schwab Investment Management Inc. grew its stake in American Electric Power by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,983,393 shares of the company’s stock worth $242,311,000 after purchasing an additional 147,826 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in 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 purchasing an additional 1,043,885 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its holdings in 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 purchasing an additional 1,927,234 shares during the period. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Price Performance

Shares of NASDAQ AEP traded up $1.04 during trading on Wednesday, hitting $98.68. 302,412 shares of the company were exchanged, compared to its average volume of 3,256,212. The firm’s fifty day moving average price is $92.60 and its 200 day moving average price is $87.74. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.65 and a quick ratio of 0.37. The company has a market cap of $52.02 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 2.92 and a beta of 0.53. American Electric Power Company, Inc. has a 1 year low of $69.38 and a 1 year high of $104.41.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. The business had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.74 billion. American Electric Power had a return on equity of 11.31% and a net margin of 13.52%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.13 EPS. On average, sell-side analysts expect that American Electric Power Company, Inc. will post 5.59 earnings per share 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 issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.57%. American Electric Power’s dividend payout ratio (DPR) is presently 65.31%.

Insider Activity

In other American Electric Power news, EVP Antonio P. Smyth sold 4,898 shares of the 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 transaction, the executive vice president now owns 6,446 shares of the company’s stock, valued at approximately $580,140. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related 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 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 hyperlink. Also, EVP Greg B. Hall sold 5,880 shares of the stock in a transaction 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 owns 6,385 shares of the company’s stock, valued at $563,476.25. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AEP. LADENBURG THALM/SH SH raised American Electric Power from a “sell” rating to a “neutral” rating and increased their target price for the company from $73.00 to $86.00 in a report on Thursday, June 6th. Scotiabank raised their price objective on American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a report on Tuesday. BMO Capital Markets lifted their target price on American Electric Power from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Morgan Stanley dropped their price target on American Electric Power from $98.00 to $94.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. Finally, JPMorgan Chase & Co. boosted their price objective on American Electric Power from $101.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, American Electric Power currently has a consensus rating of “Hold” and a consensus target price of $94.08.

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.