KMG Fiduciary Partners LLC Acquires 2,097 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

KMG Fiduciary Partners LLC boosted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 9.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,305 shares of the company’s stock after purchasing an additional 2,097 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in American Electric Power were worth $2,547,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of New Hampshire bought a new stake in American Electric Power during the 1st quarter worth about $28,000. Skandinaviska Enskilda Banken AB publ bought a new stake in American Electric Power during the 4th quarter worth about $25,000. Fourth Dimension Wealth LLC bought a new stake in American Electric Power during the 4th quarter worth about $28,000. Fairway Wealth LLC bought a new stake in American Electric Power during the 4th quarter worth about $32,000. Finally, Kestra Investment Management LLC bought a new stake in American Electric Power during the 4th quarter worth about $35,000. 75.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AEP has been the subject of several recent research reports. Wells Fargo & Company boosted their price objective on American Electric Power from $107.00 to $114.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 7th. BMO Capital Markets boosted their target price on American Electric Power from $111.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, April 21st. Bank of America boosted their target price on American Electric Power from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, March 18th. Morgan Stanley decreased their target price on American Electric Power from $114.00 to $113.00 and set an “overweight” rating for the company in a research report on Thursday, May 22nd. Finally, Guggenheim boosted their target price on 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 equities 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’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $107.75.

American Electric Power Price Performance

Shares of AEP opened at $101.79 on Friday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.31 and a current ratio of 0.44. The stock has a 50 day simple moving average of $104.43 and a 200 day simple moving average of $101.00. American Electric Power Company, Inc. has a 52-week low of $85.93 and a 52-week high of $110.48. The firm has a market capitalization of $54.38 billion, a PE ratio of 18.18, a P/E/G ratio of 2.97 and a beta of 0.42.

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

American Electric Power Announces Dividend

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

Insider Activity at American Electric Power

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

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.