Kingsview Wealth Management LLC Increases Stake in American Electric Power Company, Inc. (NASDAQ:AEP)

Kingsview Wealth Management LLC raised its stake in shares of American Electric Power Company, Inc. (NASDAQ:AEP – Get Rating) by 2.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 12,318 shares of the company’s stock after acquiring an additional 259 shares during the period. Kingsview Wealth Management LLC’s holdings in American Electric Power were worth $1,065,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Neo Ivy Capital Management lifted its holdings in shares of American Electric Power by 12.7% during the second quarter. Neo Ivy Capital Management now owns 899 shares of the company’s stock worth $86,000 after purchasing an additional 101 shares during the period. Jaffetilchin Investment Partners LLC lifted its holdings in shares of American Electric Power by 2.0% during the first quarter. Jaffetilchin Investment Partners LLC now owns 6,010 shares of the company’s stock worth $592,000 after purchasing an additional 117 shares during the period. McDonough Capital Management Inc lifted its holdings in shares of American Electric Power by 4.3% during the third quarter. McDonough Capital Management Inc now owns 2,892 shares of the company’s stock worth $250,000 after purchasing an additional 119 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of American Electric Power by 0.4% during the third quarter. Thrivent Financial for Lutherans now owns 28,284 shares of the company’s stock worth $2,445,000 after purchasing an additional 119 shares during the period. Finally, Cornerstone Advisory LLC lifted its holdings in shares of American Electric Power by 3.8% during the third quarter. Cornerstone Advisory LLC now owns 3,402 shares of the company’s stock worth $294,000 after purchasing an additional 125 shares during the period. 74.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AEP has been the subject of a number of research reports. Mizuho decreased their target price on American Electric Power from $104.00 to $101.00 and set a “buy” rating for the company in a report on Friday, December 16th. Bank of America downgraded American Electric Power from a “buy” rating to a “neutral” rating and decreased their price target for the company from $101.00 to $98.00 in a report on Monday, December 19th. Credit Suisse Group boosted their price target on American Electric Power from $87.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, December 16th. Wells Fargo & Company downgraded American Electric Power from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $108.00 to $99.00 in a report on Wednesday, February 1st. Finally, JPMorgan Chase & Co. decreased their price target on American Electric Power from $105.00 to $102.00 and set an “overweight” rating for the company in a report on Friday, March 10th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $100.83.

American Electric Power Stock Up 1.0 %

American Electric Power stock opened at $90.25 on Wednesday. The stock has a market capitalization of $46.38 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 2.72 and a beta of 0.44. American Electric Power Company, Inc. has a 12 month low of $80.30 and a 12 month high of $105.60. The business has a 50 day simple moving average of $91.95 and a 200-day simple moving average of $91.33. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.65 and a quick ratio of 0.56.

American Electric Power (NASDAQ:AEP – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.99 by $0.06. American Electric Power had a return on equity of 10.75% and a net margin of 11.77%. The firm had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.26 billion. During the same period in the previous year, the business earned $0.98 earnings per share. On average, analysts anticipate that American Electric Power Company, Inc. will post 5.27 EPS for the current fiscal year.

American Electric Power Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 10th were given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 3.68%. The ex-dividend date was Thursday, February 9th. American Electric Power’s payout ratio is 73.61%.

Insider Buying and Selling

In related news, EVP David Matthew Feinberg sold 1,004 shares of the business’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $90.39, for a total transaction of $90,751.56. Following the completion of the sale, the executive vice president now directly owns 11,717 shares in the company, valued at $1,059,099.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other American Electric Power news, EVP David Matthew Feinberg sold 1,004 shares of the business’s stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $90.39, for a total transaction of $90,751.56. Following the transaction, the executive vice president now owns 11,717 shares of the company’s stock, valued at $1,059,099.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicholas K. Akins sold 6,977 shares of the business’s stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $90.39, for a total value of $630,651.03. Following the transaction, the insider now directly owns 143,547 shares in the company, valued at approximately $12,975,213.33. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 63,897 shares of company stock worth $5,723,900. 0.12% of the stock is owned by corporate insiders.

American Electric Power Profile

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American Electric Power Co, Inc engages in the generation, transmission, and distribution of electricity. It operates through the following segments: Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation and Marketing. The Vertically Integrated Utilities segment covers the generation, transmission, and distribution of electricity for sale to retail and wholesale customers.