Toronto Dominion Bank Sells 128,346 Shares of American Electric Power Company, Inc. (NASDAQ:AEP)

Toronto Dominion Bank trimmed its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 42.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 174,397 shares of the company’s stock after selling 128,346 shares during the period. Toronto Dominion Bank’s holdings in American Electric Power were worth $15,016,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rodgers Brothers Inc. lifted its stake in American Electric Power by 9.3% in the first quarter. Rodgers Brothers Inc. now owns 3,438 shares of the company’s stock worth $296,000 after purchasing an additional 293 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in American Electric Power by 7.0% during the 1st quarter. Advisors Asset Management Inc. now owns 15,635 shares of the company’s stock valued at $1,346,000 after acquiring an additional 1,024 shares during the period. Axxcess Wealth Management LLC increased its stake in American Electric Power by 2.1% in the first quarter. Axxcess Wealth Management LLC now owns 43,330 shares of the company’s stock worth $3,731,000 after purchasing an additional 908 shares during the period. EP Wealth Advisors LLC lifted its position in shares of American Electric Power by 26.1% during the first quarter. EP Wealth Advisors LLC now owns 8,857 shares of the company’s stock worth $763,000 after purchasing an additional 1,833 shares during the last quarter. Finally, CreativeOne Wealth LLC boosted its stake in shares of American Electric Power by 21.6% during the first quarter. CreativeOne Wealth LLC now owns 7,750 shares of the company’s stock valued at $668,000 after purchasing an additional 1,375 shares during the period. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American Electric Power Stock Performance

NASDAQ:AEP traded up $0.61 during mid-day trading on Friday, hitting $96.45. The company’s stock had a trading volume of 2,275,126 shares, compared to its average volume of 3,257,694. The business’s fifty day moving average is $89.65 and its two-hundred day moving average is $85.40. The stock has a market cap of $50.84 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 2.74 and a beta of 0.53. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.54 and a quick ratio of 0.37. American Electric Power Company, Inc. has a 1 year low of $69.38 and a 1 year high of $97.32.

American Electric Power (NASDAQ:AEP) last released its quarterly earnings data 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 analyst estimates of $5.02 billion. During the same quarter in the prior year, the firm posted $1.11 EPS. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. Analysts anticipate that American Electric Power Company, Inc. will post 5.59 EPS for the current fiscal year.

American Electric Power Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 3.65%. The ex-dividend date is Friday, August 9th. American Electric Power’s payout ratio is 65.31%.

Analyst Ratings Changes

AEP has been the topic of several research analyst reports. LADENBURG THALM/SH SH raised American Electric Power from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $73.00 to $86.00 in a research note on Thursday, June 6th. Royal Bank of Canada lifted their price objective on American Electric Power from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Guggenheim increased their target price on shares of American Electric Power from $81.00 to $83.00 and gave the stock a “neutral” rating in a report on Monday. Scotiabank raised their target price on shares of 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. Finally, StockNews.com raised shares of American Electric Power from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $88.77.

Insider Activity

In other news, EVP Greg B. Hall sold 5,880 shares of American Electric Power 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 sale, the executive vice president now owns 6,385 shares in the company, valued at $563,476.25. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other American Electric Power news, EVP Antonio P. Smyth sold 4,898 shares of the stock in a transaction dated 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 SEC, which can be accessed through this hyperlink. Also, EVP Greg B. Hall sold 5,880 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 6,385 shares in the company, valued at $563,476.25. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

American Electric Power Company Profile

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.