2,748 Shares in American Electric Power Company Inc (NYSE:AEP) Acquired by Golden State Wealth Management LLC

Golden State Wealth Management LLC acquired a new position in American Electric Power Company Inc (NYSE:AEP) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 2,748 shares of the utilities provider’s stock, valued at approximately $230,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Intrust Bank NA grew its stake in shares of American Electric Power by 0.7% in the first quarter. Intrust Bank NA now owns 19,137 shares of the utilities provider’s stock worth $1,603,000 after purchasing an additional 127 shares during the last quarter. Mastrapasqua Asset Management Inc. grew its stake in shares of American Electric Power by 1.5% in the fourth quarter. Mastrapasqua Asset Management Inc. now owns 9,325 shares of the utilities provider’s stock worth $697,000 after purchasing an additional 135 shares during the last quarter. First Citizens Bank & Trust Co. grew its stake in shares of American Electric Power by 1.5% in the first quarter. First Citizens Bank & Trust Co. now owns 9,484 shares of the utilities provider’s stock worth $794,000 after purchasing an additional 140 shares during the last quarter. First American Bank grew its stake in shares of American Electric Power by 0.4% in the first quarter. First American Bank now owns 40,754 shares of the utilities provider’s stock worth $3,413,000 after purchasing an additional 149 shares during the last quarter. Finally, Clifford Swan Investment Counsel LLC grew its stake in shares of American Electric Power by 3.9% in the fourth quarter. Clifford Swan Investment Counsel LLC now owns 4,202 shares of the utilities provider’s stock worth $314,000 after purchasing an additional 156 shares during the last quarter. Hedge funds and other institutional investors own 73.60% of the company’s stock.

In other news, CEO Nicholas K. Akins sold 11,152 shares of American Electric Power stock in a transaction that occurred on 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Matthew Feinberg sold 4,535 shares of American Electric Power stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $85.72, for a total transaction of $388,740.20. Following the transaction, the executive vice president now owns 9,674 shares of the company’s stock, valued at $829,255.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,637 shares of company stock worth $2,112,145. Insiders own 0.16% of the company’s stock.

Several analysts recently issued reports on AEP shares. Morgan Stanley raised their target price on American Electric Power from $88.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Friday. JPMorgan Chase & Co. raised American Electric Power from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $78.00 to $88.00 in a research note on Tuesday, March 12th. Zacks Investment Research cut American Electric Power from a “buy” rating to a “hold” rating in a research note on Wednesday, March 20th. Wolfe Research set a $89.00 target price on American Electric Power and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, Goldman Sachs Group cut American Electric Power from a “buy” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a research report on Monday, April 8th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. American Electric Power presently has a consensus rating of “Hold” and a consensus price target of $82.07.

American Electric Power stock opened at $90.58 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.37 and a debt-to-equity ratio of 1.19. The company has a market cap of $44.68 billion, a price-to-earnings ratio of 22.93, a PEG ratio of 3.87 and a beta of 0.16. American Electric Power Company Inc has a fifty-two week low of $64.19 and a fifty-two week high of $91.07.

American Electric Power (NYSE:AEP) last posted its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.09. The business had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.23 billion. American Electric Power had a return on equity of 10.81% and a net margin of 12.64%. The business’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.96 EPS. As a group, analysts forecast that American Electric Power Company Inc will post 4.15 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were given a dividend of $0.67 per share. The ex-dividend date was Thursday, May 9th. This represents a $2.68 annualized dividend and a yield of 2.96%. American Electric Power’s payout ratio is 67.85%.

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American Electric Power 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.

Further Reading: How Important is Technical Analysis of Stocks

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

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