First Hawaiian Bank Takes Position in American Electric Power Company, Inc. (NASDAQ:AEP)

First Hawaiian Bank acquired a new stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP – Get Rating) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 5,300 shares of the company’s stock, valued at approximately $529,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Joseph Group Capital Management bought a new stake in American Electric Power during the 4th quarter valued at approximately $666,000. Arlington Partners LLC bought a new stake in American Electric Power during the 4th quarter valued at approximately $29,000. Rather & Kittrell Inc. bought a new stake in American Electric Power during the 4th quarter valued at approximately $38,000. Future Financial Wealth Managment LLC bought a new stake in American Electric Power during the 4th quarter valued at approximately $39,000. Finally, PYA Waltman Capital LLC bought a new stake in American Electric Power during the 4th quarter valued at approximately $44,000. 73.26% of the stock is currently owned by institutional investors.

In other American Electric Power news, EVP David Matthew Feinberg sold 2,890 shares of the company’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $99.47, for a total value of $287,468.30. Following the completion of the sale, the executive vice president now directly owns 11,395 shares in the company, valued at approximately $1,133,460.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Therace Risch sold 5,330 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now owns 8,248 shares of the company’s stock, valued at $844,182.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,995 shares of company stock valued at $2,412,657. 0.12% of the stock is owned by company insiders.

AEP has been the topic of a number of research reports. Royal Bank of Canada lifted their price objective on American Electric Power from $101.00 to $106.00 and gave the stock an “outperform” rating in a research note on Monday, March 7th. Morgan Stanley reduced their price objective on American Electric Power from $117.00 to $113.00 and set an “overweight” rating on the stock in a research note on Monday, May 23rd. Mizuho lifted their price objective on American Electric Power from $94.00 to $104.00 and gave the stock a “buy” rating in a research note on Tuesday, March 29th. Wells Fargo & Company raised American Electric Power from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $93.00 to $101.00 in a research note on Monday, February 28th. Finally, StockNews.com initiated coverage on American Electric Power in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $103.98.

NASDAQ AEP opened at $90.31 on Thursday. The company has a market cap of $46.38 billion, a P/E ratio of 17.27, a P/E/G ratio of 2.85 and a beta of 0.34. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.54 and a current ratio of 0.61. The business’s 50 day moving average price is $99.02 and its 200-day moving average price is $94.36. American Electric Power Company, Inc. has a fifty-two week low of $80.22 and a fifty-two week high of $104.81.

American Electric Power (NASDAQ:AEP – Get Rating) last released its earnings results on Thursday, April 28th. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.03. American Electric Power had a return on equity of 10.65% and a net margin of 15.34%. The firm had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same quarter in the previous year, the company posted $1.15 EPS. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, equities analysts predict that American Electric Power Company, Inc. will post 5.01 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Tuesday, May 10th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date was Monday, May 9th. American Electric Power’s payout ratio is currently 59.66%.

About American Electric Power (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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