Checchi Capital Advisers LLC Has $828,000 Stock Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Checchi Capital Advisers LLC raised its holdings in shares of American Electric Power Company, Inc. (NASDAQ:AEPGet Rating) by 3.2% in the 1st quarter, HoldingsChannel reports. The firm owned 8,296 shares of the company’s stock after buying an additional 256 shares during the period. Checchi Capital Advisers LLC’s holdings in American Electric Power were worth $828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in shares of American Electric Power by 4.8% during the fourth quarter. BlackRock Inc. now owns 41,461,321 shares of the company’s stock worth $3,688,814,000 after buying an additional 1,910,807 shares in the last quarter. State Street Corp lifted its holdings in shares of American Electric Power by 1.4% during the fourth quarter. State Street Corp now owns 25,520,932 shares of the company’s stock worth $2,270,597,000 after buying an additional 340,301 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of American Electric Power by 4.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 10,371,442 shares of the company’s stock worth $922,747,000 after buying an additional 396,083 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of American Electric Power by 6.5% during the fourth quarter. Geode Capital Management LLC now owns 8,498,401 shares of the company’s stock worth $753,951,000 after buying an additional 519,399 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of American Electric Power by 11.0% in the fourth quarter. Invesco Ltd. now owns 8,188,478 shares of the company’s stock worth $728,529,000 after purchasing an additional 811,843 shares during the period. Institutional investors and hedge funds own 73.26% of the company’s stock.

Insider Buying and Selling

In related news, EVP Therace Risch sold 5,330 shares of American Electric Power stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $102.35, for a total value of $545,525.50. Following the transaction, the executive vice president now directly owns 8,248 shares of the company’s stock, valued at $844,182.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Therace Risch sold 5,330 shares of American Electric Power stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $102.35, for a total value of $545,525.50. Following the transaction, the executive vice president now directly owns 8,248 shares of the company’s stock, valued at $844,182.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Charles E. Zebula sold 1,902 shares of the business’s stock in a transaction that occurred on Friday, May 20th. The shares were sold at an average price of $99.05, for a total value of $188,393.10. Following the completion of the transaction, the executive vice president now directly owns 18,134 shares in the company, valued at $1,796,172.70. The disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

American Electric Power Stock Performance

American Electric Power stock opened at $99.46 on Friday. American Electric Power Company, Inc. has a 12-month low of $80.22 and a 12-month high of $104.81. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.36. The business’s 50-day moving average price is $95.90 and its two-hundred day moving average price is $95.93. The stock has a market cap of $51.10 billion, a PE ratio of 19.54, a P/E/G ratio of 3.23 and a beta of 0.35.

American Electric Power (NASDAQ:AEPGet Rating) last released its quarterly earnings results on Wednesday, July 27th. The company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.01. The company had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $3.98 billion. American Electric Power had a return on equity of 10.46% and a net margin of 14.39%. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.18 earnings per share. As a group, analysts expect that American Electric Power Company, Inc. will post 5 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Wednesday, August 10th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Tuesday, August 9th. American Electric Power’s dividend payout ratio (DPR) is currently 61.30%.

Analysts Set New Price Targets

A number of research analysts recently commented on AEP shares. Citigroup raised their price target on American Electric Power from $94.00 to $99.00 in a research report on Thursday, July 28th. Morgan Stanley decreased their price target on American Electric Power from $113.00 to $101.00 and set an “overweight” rating on the stock in a research report on Thursday, June 23rd. Finally, Credit Suisse Group raised their price target on American Electric Power from $103.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, July 28th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.67.

American Electric Power Profile

(Get Rating)

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. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.

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

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