American Electric Power Company, Inc. (NASDAQ:AEP) Shares Bought by AlphaStar Capital Management LLC

AlphaStar Capital Management LLC grew its stake in American Electric Power Company, Inc. (NASDAQ:AEP) by 7.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 4,651 shares of the company’s stock after purchasing an additional 325 shares during the period. AlphaStar Capital Management LLC’s holdings in American Electric Power were worth $408,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Frazier Financial Advisors LLC acquired a new position in American Electric Power during the fourth quarter worth approximately $26,000. Denali Advisors LLC acquired a new position in shares of American Electric Power in the 1st quarter valued at $26,000. Rise Advisors LLC purchased a new stake in American Electric Power in the 1st quarter valued at $27,000. YHB Investment Advisors Inc. acquired a new stake in American Electric Power during the 1st quarter worth $29,000. Finally, LRI Investments LLC grew its position in American Electric Power by 935.9% during the 2nd quarter. LRI Investments LLC now owns 404 shares of the company’s stock worth $35,000 after purchasing an additional 365 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

Insider Activity at American Electric Power

In other news, EVP Greg B. Hall sold 5,880 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 6,385 shares of the company’s stock, valued at $563,476.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Greg B. Hall sold 5,880 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $88.25, for a total transaction of $518,910.00. Following the transaction, the executive vice president now directly owns 6,385 shares in the company, valued at $563,476.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Antonio P. Smyth sold 4,898 shares of American Electric Power 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 of the company’s stock, valued at approximately $580,140. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company upped their target price on shares of American Electric Power from $84.00 to $89.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. BMO Capital Markets increased their price target on American Electric Power from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. JPMorgan Chase & Co. lifted their price objective on shares of American Electric Power from $101.00 to $108.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Scotiabank upped their price objective on shares of American Electric Power from $99.00 to $108.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Finally, Morgan Stanley lifted their target price on shares of American Electric Power from $95.00 to $102.00 and gave the company an “overweight” rating in a report on Friday. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $94.69.

American Electric Power Price Performance

Shares of NASDAQ:AEP traded down $0.54 during trading on Tuesday, hitting $98.48. 569,156 shares of the stock were exchanged, compared to its average volume of 3,236,138. The company has a market cap of $51.91 billion, a PE ratio of 18.29, a P/E/G ratio of 2.92 and a beta of 0.53. The company has a current ratio of 0.65, a quick ratio of 0.37 and a debt-to-equity ratio of 1.53. The company has a fifty day moving average price of $93.44 and a two-hundred day moving average price of $88.35. American Electric Power Company, Inc. has a 12-month low of $69.38 and a 12-month high of $104.41.

American Electric Power (NASDAQ:AEP) last announced its earnings results on Tuesday, July 30th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. The company had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.74 billion. American Electric Power had a net margin of 13.52% and a return on equity of 11.31%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.13 earnings per share. On average, analysts forecast that American Electric Power Company, Inc. will post 5.59 EPS for the current year.

American Electric Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be given a $0.88 dividend. The ex-dividend date is Friday, August 9th. This represents a $3.52 annualized dividend and a dividend yield of 3.57%. American Electric Power’s dividend payout ratio is currently 65.31%.

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.