Stephens Inc. AR Sells 21,022 Shares of American Electric Power Company Inc (NYSE:AEP)
Stephens Inc. AR decreased its holdings in shares of American Electric Power Company Inc (NYSE:AEP) by 75.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,771 shares of the utilities provider’s stock after selling 21,022 shares during the period. Stephens Inc. AR’s holdings in American Electric Power were worth $596,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in AEP. Dimensional Fund Advisors LP lifted its holdings in shares of American Electric Power by 6.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 954,396 shares of the utilities provider’s stock valued at $71,331,000 after buying an additional 58,389 shares during the period. Geode Capital Management LLC lifted its holdings in shares of American Electric Power by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 5,942,257 shares of the utilities provider’s stock valued at $443,292,000 after buying an additional 438,632 shares during the period. USS Investment Management Ltd bought a new position in shares of American Electric Power during the 1st quarter valued at $31,189,000. Pennsylvania Trust Co lifted its holdings in shares of American Electric Power by 3.3% during the 1st quarter. Pennsylvania Trust Co now owns 5,961 shares of the utilities provider’s stock valued at $499,000 after buying an additional 190 shares during the period. Finally, Moody Lynn & Lieberson LLC bought a new position in shares of American Electric Power during the 1st quarter valued at $208,000. 74.54% of the stock is owned by institutional investors and hedge funds.
In related news, insider Lisa M. Barton sold 1,752 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $89.41, for a total value of $156,646.32. Following the transaction, the insider now directly owns 34,460 shares of the company’s stock, valued at approximately $3,081,068.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Brian X. Tierney sold 4,458 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $89.73, for a total value of $400,016.34. Following the completion of the transaction, the vice president now directly owns 39,745 shares in the company, valued at $3,566,318.85. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by company insiders.
American Electric Power (NYSE:AEP) last announced its earnings results on Thursday, July 25th. The utilities provider reported $1.00 EPS for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.02. American Electric Power had a return on equity of 10.69% and a net margin of 12.53%. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same period last year, the firm earned $1.01 EPS. American Electric Power’s revenue for the quarter was down 10.0% compared to the same quarter last year. Analysts predict that American Electric Power Company Inc will post 4.13 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be issued a $0.67 dividend. The ex-dividend date is Thursday, August 8th. This represents a $2.68 dividend on an annualized basis and a yield of 2.93%. American Electric Power’s dividend payout ratio is currently 67.85%.
AEP has been the topic of several research analyst reports. Wolfe Research set a $89.00 price target on American Electric Power and gave the company a “buy” rating in a report on Friday, April 26th. SunTrust Banks increased their price target on American Electric Power from $98.00 to $99.00 and gave the company a “buy” rating in a report on Monday, August 12th. UBS Group increased their price target on American Electric Power from $94.00 to $100.00 and gave the company a “buy” rating in a report on Friday, July 12th. KeyCorp initiated coverage on American Electric Power in a report on Tuesday, June 4th. They set a “sector weight” rating on the stock. Finally, Zacks Investment Research raised American Electric Power from a “sell” rating to a “hold” rating and set a $96.00 price target on the stock in a report on Thursday, July 11th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $88.33.
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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.
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