Stratos Wealth Advisors LLC trimmed its position in American Electric Power Company Inc (NYSE:AEP) by 3.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,658 shares of the utilities provider’s stock after selling 131 shares during the period. Stratos Wealth Advisors LLC’s holdings in American Electric Power were worth $306,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Legacy Advisors LLC purchased a new position in American Electric Power in the 1st quarter worth $25,000. Sageworth Trust Co raised its position in American Electric Power by 1,026.9% in the 1st quarter. Sageworth Trust Co now owns 293 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 267 shares during the period. Capital Financial Planning LLC purchased a new position in American Electric Power in the 4th quarter worth $26,000. Athena Capital Advisors LLC purchased a new position in American Electric Power in the 4th quarter worth $27,000. Finally, Claybrook Capital LLC purchased a new position in American Electric Power in the 4th quarter worth $27,000. 73.99% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Brian X. Tierney sold 4,392 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $86.02, for a total transaction of $377,799.84. Following the transaction, the vice president now owns 39,449 shares in the company, valued at $3,393,402.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Nicholas K. Akins sold 11,152 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $84.94, for a total transaction of $947,250.88. The disclosure for this sale can be found here. Insiders have sold 21,582 shares of company stock worth $1,842,763 in the last quarter. 0.16% of the stock is owned by corporate insiders.
American Electric Power (NYSE:AEP) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.09. American Electric Power had a net margin of 12.64% and a return on equity of 10.81%. The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.23 billion. During the same quarter in the previous year, the company earned $0.96 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities analysts predict that American Electric Power Company Inc will post 4.13 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend is Thursday, May 9th. American Electric Power’s dividend payout ratio is currently 67.85%.
A number of equities analysts recently commented on AEP shares. Zacks Investment Research upgraded shares of American Electric Power from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a research report on Monday, March 18th. Wolfe Research set a $89.00 price objective on shares of American Electric Power and gave the company a “buy” rating in a research report on Friday, April 26th. UBS Group boosted their price objective on shares of American Electric Power from $89.00 to $94.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Morgan Stanley boosted their price objective on shares of American Electric Power from $87.00 to $88.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. set a $78.00 price objective on shares of American Electric Power and gave the company a “hold” rating in a research report on Friday, January 25th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $81.63.
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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