W.G. Shaheen & Associates DBA Whitney & Co Sells 950 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

W.G. Shaheen & Associates DBA Whitney & Co lowered its position in American Electric Power Company, Inc. (NASDAQ:AEP) by 13.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,100 shares of the company’s stock after selling 950 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in American Electric Power were worth $535,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in AEP. Silver Oak Securities Incorporated grew its stake in American Electric Power by 18.1% in the 4th quarter. Silver Oak Securities Incorporated now owns 2,544 shares of the company’s stock worth $207,000 after buying an additional 389 shares in the last quarter. Mather Group LLC. grew its position in American Electric Power by 3.5% in the fourth quarter. Mather Group LLC. now owns 5,856 shares of the company’s stock worth $476,000 after acquiring an additional 198 shares in the last quarter. Penobscot Investment Management Company Inc. increased its stake in American Electric Power by 22.8% in the fourth quarter. Penobscot Investment Management Company Inc. now owns 4,041 shares of the company’s stock valued at $328,000 after acquiring an additional 750 shares during the last quarter. Brighton Jones LLC increased its stake in American Electric Power by 5.4% in the fourth quarter. Brighton Jones LLC now owns 9,860 shares of the company’s stock valued at $801,000 after acquiring an additional 507 shares during the last quarter. Finally, MONECO Advisors LLC purchased a new stake in American Electric Power during the fourth quarter valued at about $202,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

AEP has been the topic of several recent research reports. Guggenheim increased their price objective on American Electric Power from $81.00 to $83.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. boosted their price objective on shares of American Electric Power from $101.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. StockNews.com raised shares of American Electric Power from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. LADENBURG THALM/SH SH upgraded shares of American Electric Power from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $73.00 to $86.00 in a research report on Thursday, June 6th. Finally, Scotiabank raised their price objective on American Electric Power from $99.00 to $108.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $94.77.

American Electric Power Price Performance

Shares of AEP stock opened at $100.28 on Friday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.37 and a current ratio of 0.65. American Electric Power Company, Inc. has a fifty-two week low of $69.38 and a fifty-two week high of $104.41. The firm has a market cap of $52.86 billion, a P/E ratio of 18.60, a P/E/G ratio of 2.92 and a beta of 0.53. The business’s 50 day moving average price is $94.38 and its 200-day moving average price is $88.88.

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, beating the consensus estimate of $1.23 by $0.02. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The business had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the previous year, the business posted $1.13 earnings per share. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities research analysts anticipate that American Electric Power Company, Inc. will post 5.59 earnings per share for the current year.

American Electric Power Dividend Announcement

The business also recently declared 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. This represents a $3.52 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date is Friday, August 9th. American Electric Power’s payout ratio is currently 65.31%.

Insiders Place Their Bets

In other American Electric Power news, EVP Antonio P. Smyth sold 4,898 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $580,140. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.12% of the stock is currently owned by company insiders.

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.