Courier Capital LLC Sells 5,493 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Courier Capital LLC reduced its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 23.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,499 shares of the company’s stock after selling 5,493 shares during the period. Courier Capital LLC’s holdings in American Electric Power were worth $1,507,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC increased its stake in American Electric Power by 9.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 152,028 shares of the company’s stock worth $13,090,000 after purchasing an additional 13,038 shares during the period. ERn Financial LLC bought a new stake in shares of American Electric Power in the 1st quarter worth approximately $200,000. Viking Fund Management LLC grew its position in shares of American Electric Power by 16.7% in the 1st quarter. Viking Fund Management LLC now owns 154,000 shares of the company’s stock worth $13,259,000 after buying an additional 22,000 shares during the last quarter. Sandbox Financial Partners LLC grew its position in shares of American Electric Power by 18.8% in the 1st quarter. Sandbox Financial Partners LLC now owns 2,970 shares of the company’s stock worth $256,000 after buying an additional 470 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC grew its position in shares of American Electric Power by 161.6% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 10,618 shares of the company’s stock worth $914,000 after buying an additional 6,559 shares during the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on AEP shares. UBS Group lowered American Electric Power from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $86.00 to $83.00 in a research report on Monday, March 11th. StockNews.com upgraded American Electric Power from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. BMO Capital Markets lifted their price objective on American Electric Power from $95.00 to $99.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 14th. Barclays lifted their price target 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, Scotiabank lifted their price target on American Electric Power from $86.00 to $90.00 and gave the company a “sector outperform” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, American Electric Power has an average rating of “Hold” and a consensus price target of $88.62.

American Electric Power Trading Down 0.6 %

American Electric Power stock opened at $87.74 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.37 and a debt-to-equity ratio of 1.50. The business’s fifty day simple moving average is $88.79 and its two-hundred day simple moving average is $84.13. American Electric Power Company, Inc. has a 12 month low of $69.38 and a 12 month high of $93.44. The company has a market capitalization of $46.25 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 2.58 and a beta of 0.53.

American Electric Power (NASDAQ:AEP) last released its earnings results on Tuesday, April 30th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.25 by $0.02. American Electric Power had a return on equity of 11.23% and a net margin of 14.60%. The business had revenue of $5 billion for the quarter, compared to the consensus estimate of $5.02 billion. During the same period in the previous year, the company posted $1.11 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, equities analysts predict that American Electric Power Company, Inc. will post 5.58 earnings per share for the current fiscal year.

American Electric Power Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 4.01%. The ex-dividend date was Thursday, May 9th. American Electric Power’s dividend payout ratio is currently 65.31%.

Insider Transactions at American Electric Power

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

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.