Focused Wealth Management Inc bought a new position in shares of American Electric Power Company Inc (NYSE:AEP) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,490 shares of the utilities provider’s stock, valued at approximately $219,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sageworth Trust Co lifted its stake in American Electric Power by 1,026.9% in the first quarter. Sageworth Trust Co now owns 293 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 267 shares during the last quarter. Legacy Advisors LLC acquired a new stake in American Electric Power in the first quarter valued at $25,000. Truvestments Capital LLC acquired a new stake in American Electric Power in the first quarter valued at $28,000. Glassman Wealth Services lifted its stake in American Electric Power by 138.0% in the first quarter. Glassman Wealth Services now owns 388 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 225 shares during the last quarter. Finally, Weaver Consulting Group acquired a new stake in American Electric Power in the first quarter valued at $32,000. Institutional investors and hedge funds own 73.53% of the company’s stock.

In related news, CEO Nicholas K. Akins sold 11,152 shares of the firm’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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Paul Chodak III sold 1,303 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $86.52, for a total transaction of $112,735.56. Following the transaction, the executive vice president now directly owns 8,152 shares in the company, valued at $705,311.04. The disclosure for this sale can be found here. Insiders sold 24,637 shares of company stock worth $2,112,145 over the last three months. Insiders own 0.16% of the company’s stock.

A number of analysts have commented on the stock. Goldman Sachs Group reiterated a “neutral” rating and issued a $393.00 price target on shares of Boeing in a research note on Monday, April 8th. Bank of America reiterated a “buy” rating and issued a $43.00 price target (up previously from $36.00) on shares of The Medicines in a research note on Tuesday, July 9th. KeyCorp assumed coverage on shares of Southern in a research note on Tuesday, June 4th. They issued a “sector weight” rating for the company. Zacks Investment Research upgraded shares of General Moly from a “sell” rating to a “hold” rating in a research note on Thursday, July 11th. Finally, Morgan Stanley set a $18.00 price target on shares of PG&E and gave the company a “hold” rating in a research note on Friday, June 14th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $87.45.

Shares of AEP traded down $0.13 during trading hours on Friday, hitting $88.95. The company had a trading volume of 2,176,514 shares, compared to its average volume of 1,726,079. The stock has a market capitalization of $43.87 billion, a price-to-earnings ratio of 22.52, a price-to-earnings-growth ratio of 3.80 and a beta of 0.16. The stock has a fifty day moving average price of $89.93. American Electric Power Company Inc has a 12 month low of $68.92 and a 12 month high of $91.99. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.37 and a current ratio of 0.49.

American Electric Power (NYSE:AEP) last issued its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.02. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $4.13 billion. American Electric Power had a net margin of 12.53% and a return on equity of 10.69%. The company’s revenue was down 10.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.01 earnings per share. On average, sell-side analysts forecast that American Electric Power Company Inc will post 4.14 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Thursday, August 8th. American Electric Power’s payout ratio is presently 67.85%.

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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Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

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