RFG Advisory LLC Purchases New Position in American Electric Power Company, Inc. (NASDAQ:AEP)

RFG Advisory LLC purchased a new stake in American Electric Power Company, Inc. (NASDAQ:AEP) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,450 shares of the company’s stock, valued at approximately $211,000.

A number of other large investors have also recently modified their holdings of AEP. Dakota Community Bank & Trust NA acquired a new position in shares of American Electric Power during the first quarter worth $82,000. LexAurum Advisors LLC increased its position in shares of American Electric Power by 19.8% during the first quarter. LexAurum Advisors LLC now owns 5,297 shares of the company’s stock worth $456,000 after purchasing an additional 874 shares in the last quarter. Marcum Wealth LLC increased its position in shares of American Electric Power by 16.2% during the first quarter. Marcum Wealth LLC now owns 3,794 shares of the company’s stock worth $327,000 after purchasing an additional 528 shares in the last quarter. Nexus Investment Management ULC increased its position in shares of American Electric Power by 8.1% during the first quarter. Nexus Investment Management ULC now owns 389,730 shares of the company’s stock worth $33,556,000 after purchasing an additional 29,225 shares in the last quarter. Finally, Park Avenue Securities LLC increased its position in shares of American Electric Power by 1.3% during the first quarter. Park Avenue Securities LLC now owns 28,548 shares of the company’s stock worth $2,458,000 after purchasing an additional 360 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Insider Buying and Selling at American Electric Power

In other American Electric Power news, EVP Greg B. Hall sold 5,880 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $88.25, for a total value of $518,910.00. Following the completion of the sale, the executive vice president now owns 6,385 shares in the company, valued at approximately $563,476.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Antonio P. Smyth sold 4,898 shares of American Electric Power stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $90.00, for a total value of $440,820.00. Following the completion of the sale, the executive vice president now owns 6,446 shares in the company, valued at approximately $580,140. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Greg B. Hall sold 5,880 shares of American Electric Power stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $88.25, for a total transaction of $518,910.00. Following the completion of the sale, the executive vice president now owns 6,385 shares of the company’s stock, valued at approximately $563,476.25. The disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

American Electric Power Trading Up 0.3 %

Shares of American Electric Power stock opened at $87.16 on Thursday. The firm has a market capitalization of $45.94 billion, a PE ratio of 16.17, a P/E/G ratio of 2.57 and a beta of 0.53. American Electric Power Company, Inc. has a twelve month low of $69.38 and a twelve month high of $93.44. The firm’s 50-day moving average price is $88.61 and its 200 day moving average price is $84.05. The company has a current ratio of 0.54, a quick ratio of 0.37 and a debt-to-equity ratio of 1.50.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data on Tuesday, April 30th. The company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.02. The company had revenue of $5 billion during the quarter, compared to the consensus estimate of $5.02 billion. American Electric Power had a net margin of 14.60% and a return on equity of 11.23%. American Electric Power’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.11 EPS. On average, sell-side analysts predict that American Electric Power Company, Inc. will post 5.58 EPS for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were issued a $0.88 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $3.52 dividend on an annualized basis and a yield of 4.04%. American Electric Power’s payout ratio is 65.31%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. UBS Group downgraded American Electric Power from a “neutral” rating to a “sell” rating and cut their target price for the company from $86.00 to $83.00 in a research report on Monday, March 11th. LADENBURG THALM/SH SH raised American Electric Power from a “sell” rating to a “neutral” rating and upped their target price for the company from $73.00 to $86.00 in a research report on Thursday, June 6th. Wells Fargo & Company upped their target price on American Electric Power from $84.00 to $89.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. Barclays upped their target price on American Electric Power from $84.00 to $88.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Finally, StockNews.com raised shares of American Electric Power from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, American Electric Power currently has an average rating of “Hold” and an average target price of $88.62.

About American Electric Power

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.