Alberta Investment Management Corp Buys New Shares in American Electric Power Company Inc (NYSE:AEP)

Alberta Investment Management Corp purchased a new position in shares of American Electric Power Company Inc (NYSE:AEP) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 44,800 shares of the utilities provider’s stock, valued at approximately $3,618,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in AEP. Engrave Wealth Partners LLC acquired a new stake in American Electric Power during the 4th quarter worth about $31,000. Fusion Family Wealth LLC acquired a new stake in American Electric Power during the 4th quarter worth about $34,000. Cowen Prime Services LLC acquired a new stake in American Electric Power during the 1st quarter worth about $36,000. Asset Dedication LLC grew its position in American Electric Power by 554.1% during the 4th quarter. Asset Dedication LLC now owns 399 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 338 shares during the period. Finally, Coastal Investment Advisors Inc. grew its position in American Electric Power by 30.1% during the 4th quarter. Coastal Investment Advisors Inc. now owns 501 shares of the utilities provider’s stock worth $47,000 after purchasing an additional 116 shares during the period. 73.67% of the stock is currently owned by institutional investors.

In related news, CEO Nicholas K. Akins sold 69,657 shares of American Electric Power stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $101.05, for a total value of $7,038,839.85. Following the completion of the sale, the chief executive officer now owns 170,522 shares in the company, valued at approximately $17,231,248.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian X. Tierney sold 18,573 shares of American Electric Power stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $101.55, for a total transaction of $1,886,088.15. Following the completion of the sale, the chief financial officer now owns 45,162 shares of the company’s stock, valued at approximately $4,586,201.10. The disclosure for this sale can be found here. Insiders have sold a total of 127,067 shares of company stock valued at $12,434,814 in the last 90 days. Insiders own 0.16% of the company’s stock.

AEP stock opened at $77.37 on Friday. The company has a market cap of $38.53 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 3.21 and a beta of 0.38. The company has a current ratio of 0.45, a quick ratio of 0.35 and a debt-to-equity ratio of 1.33. American Electric Power Company Inc has a 12 month low of $65.14 and a 12 month high of $104.97. The firm has a 50-day moving average of $81.13 and a two-hundred day moving average of $90.61.

American Electric Power (NYSE:AEP) last announced its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.09 by ($0.07). The firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $4.26 billion. American Electric Power had a return on equity of 10.15% and a net margin of 12.08%. The firm’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.19 EPS. As a group, equities analysts forecast that American Electric Power Company Inc will post 4.26 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th will be issued a dividend of $0.70 per share. The ex-dividend date is Thursday, May 7th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.62%. American Electric Power’s dividend payout ratio is currently 66.04%.

Several research firms have recently issued reports on AEP. TheStreet lowered shares of American Electric Power from a “b” rating to a “c+” rating in a research note on Friday, March 20th. Wells Fargo & Co reissued an “outperform” rating on shares of American Electric Power in a research note on Monday, February 24th. BMO Capital Markets started coverage on shares of American Electric Power in a research note on Wednesday, February 19th. They set an “outperform” rating and a $111.00 target price on the stock. Citigroup decreased their price target on shares of American Electric Power from $101.00 to $82.00 and set a “neutral” rating on the stock in a research note on Thursday, April 2nd. Finally, Evercore ISI raised shares of American Electric Power from an “in-line” rating to an “outperform” rating and decreased their price target for the company from $103.00 to $95.00 in a research note on Monday, April 20th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $95.17.

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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