Godsey & Gibb Inc. Sells 1,840 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Godsey & Gibb Inc. lessened its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 1.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,932 shares of the company’s stock after selling 1,840 shares during the quarter. American Electric Power comprises 2.0% of Godsey & Gibb Inc.’s investment portfolio, making the stock its 28th biggest holding. Godsey & Gibb Inc.’s holdings in American Electric Power were worth $20,754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of American Electric Power in the 4th quarter worth about $25,000. Fourth Dimension Wealth LLC acquired a new stake in shares of American Electric Power in the 4th quarter worth about $28,000. Fairway Wealth LLC acquired a new stake in shares of American Electric Power in the 4th quarter worth about $32,000. Kestra Investment Management LLC acquired a new stake in shares of American Electric Power in the 4th quarter worth about $35,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of American Electric Power in the 4th quarter worth about $35,000. Institutional investors own 75.24% of the company’s stock.

Insider Buying and Selling at American Electric Power

In other news, EVP David Matthew Feinberg sold 8,057 shares of American Electric Power stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $102.94, for a total transaction of $829,387.58. Following the completion of the sale, the executive vice president now directly owns 26,298 shares of the company’s stock, valued at approximately $2,707,116.12. The trade was a 23.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Quinton S. Lies sold 10,141 shares of American Electric Power stock in a transaction on Monday, May 19th. The stock was sold at an average price of $102.68, for a total transaction of $1,041,277.88. Following the sale, the executive vice president now directly owns 9,658 shares of the company’s stock, valued at $991,683.44. This represents a 51.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.07% of the company’s stock.

American Electric Power Trading Up 0.0%

Shares of AEP stock opened at $101.79 on Friday. The company has a 50 day moving average of $104.43 and a 200-day moving average of $100.97. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. American Electric Power Company, Inc. has a 12-month low of $85.93 and a 12-month high of $110.48. The firm has a market cap of $54.38 billion, a P/E ratio of 18.18, a PEG ratio of 2.97 and a beta of 0.42.

American Electric Power (NASDAQ:AEP) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.14. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. The company had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.33 billion. During the same quarter last year, the business posted $1.27 EPS. American Electric Power’s quarterly revenue was up 8.7% compared to the same quarter last year. Sell-side analysts anticipate that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend is Friday, May 9th. American Electric Power’s payout ratio is 71.68%.

Wall Street Analyst Weigh In

Several research firms have commented on AEP. Barclays lifted their target price on shares of American Electric Power from $95.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 22nd. Wells Fargo & Company lifted their target price on shares of American Electric Power from $107.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 7th. Bank of America lifted their target price on shares of American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. UBS Group lifted their target price on shares of American Electric Power from $95.00 to $100.00 and gave the stock a “sell” rating in a research report on Friday. Finally, Guggenheim lifted their target price on shares of American Electric Power from $109.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $107.75.

American Electric Power 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.