Private Trust Co. NA Increases Stake in American Electric Power Company Inc (NYSE:AEP)

Private Trust Co. NA grew its position in shares of American Electric Power Company Inc (NYSE:AEP) by 3.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,674 shares of the utilities provider’s stock after buying an additional 170 shares during the quarter. Private Trust Co. NA’s holdings in American Electric Power were worth $468,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Engrave Wealth Partners LLC purchased a new position in American Electric Power during the 4th quarter worth $31,000. Capital Advisory Group Advisory Services LLC purchased a new position in American Electric Power during the 1st quarter worth $28,000. CVA Family Office LLC purchased a new position in shares of American Electric Power in the 1st quarter valued at about $28,000. Balentine LLC purchased a new position in shares of American Electric Power in the 1st quarter valued at about $36,000. Finally, Cowen Prime Services LLC purchased a new position in shares of American Electric Power in the 1st quarter valued at about $36,000. Institutional investors own 74.60% of the company’s stock.

A number of brokerages have recently issued reports on AEP. Barclays cut their price target on shares of American Electric Power from $107.00 to $82.00 and set an “overweight” rating for the company in a report on Thursday, March 26th. Royal Bank of Canada restated a “buy” rating and set a $92.00 target price on shares of American Electric Power in a report on Wednesday, April 8th. Evercore ISI upgraded shares of American Electric Power from an “in-line” rating to an “outperform” rating and dropped their target price for the company from $103.00 to $95.00 in a report on Monday, April 20th. Morgan Stanley raised their target price on shares of American Electric Power from $93.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, June 17th. Finally, Mizuho restated a “hold” rating and set a $76.00 target price on shares of American Electric Power in a report on Tuesday, April 7th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. American Electric Power has a consensus rating of “Buy” and a consensus target price of $95.72.

AEP opened at $82.42 on Thursday. The company’s 50 day simple moving average is $81.77 and its 200 day simple moving average is $88.35. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.35 and a current ratio of 0.45. American Electric Power Company Inc has a 1 year low of $65.14 and a 1 year high of $104.97. The stock has a market capitalization of $40.83 billion, a PE ratio of 22.10, a P/E/G ratio of 3.36 and a beta of 0.36.

American Electric Power (NYSE:AEP) last announced its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.07). The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $4.26 billion. American Electric Power had a net margin of 12.08% and a return on equity of 10.15%. The company’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period last year, the firm earned $1.19 earnings per share. As a group, sell-side analysts expect that American Electric Power Company Inc will post 4.24 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were paid a dividend of $0.70 per share. The ex-dividend date was Thursday, May 7th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.40%. American Electric Power’s dividend payout ratio is currently 66.04%.

In related news, EVP Mark C. Mccullough sold 2,244 shares of American Electric Power stock in a transaction on Monday, May 4th. The shares were sold at an average price of $81.19, for a total value of $182,190.36. Following the completion of the sale, the executive vice president now owns 10,530 shares in the company, valued at $854,930.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Nicholas K. Akins sold 16,519 shares of American Electric Power stock in a transaction on Monday, May 4th. The stock was sold at an average price of $81.90, for a total transaction of $1,352,906.10. Following the completion of the transaction, the chief executive officer now directly owns 134,743 shares of the company’s stock, valued at approximately $11,035,451.70. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

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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