Marino Stram & Associates LLC Purchases 575 Shares of American Electric Power Company Inc (NYSE:AEP)

Marino Stram & Associates LLC raised its position in American Electric Power Company Inc (NYSE:AEP) by 26.5% during the first quarter, HoldingsChannel reports. The firm owned 2,744 shares of the utilities provider’s stock after buying an additional 575 shares during the quarter. Marino Stram & Associates LLC’s holdings in American Electric Power were worth $230,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AEP. Magellan Asset Management Ltd raised its holdings in shares of American Electric Power by 15.7% in the 1st quarter. Magellan Asset Management Ltd now owns 261,913 shares of the utilities provider’s stock worth $21,935,000 after buying an additional 35,457 shares in the last quarter. Westpac Banking Corp raised its holdings in shares of American Electric Power by 34.1% in the 1st quarter. Westpac Banking Corp now owns 49,674 shares of the utilities provider’s stock worth $4,160,000 after buying an additional 12,627 shares in the last quarter. Riverhead Capital Management LLC raised its holdings in shares of American Electric Power by 4.0% in the 1st quarter. Riverhead Capital Management LLC now owns 37,823 shares of the utilities provider’s stock worth $3,168,000 after buying an additional 1,468 shares in the last quarter. Andra AP fonden acquired a new position in shares of American Electric Power in the 1st quarter worth approximately $2,395,000. Finally, GWM Advisors LLC raised its holdings in shares of American Electric Power by 26.6% in the 1st quarter. GWM Advisors LLC now owns 20,245 shares of the utilities provider’s stock worth $1,696,000 after buying an additional 4,258 shares in the last quarter. Hedge funds and other institutional investors own 73.60% of the company’s stock.

In other American Electric Power news, insider Lisa M. Barton sold 1,752 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $89.41, for a total value of $156,646.32. Following the transaction, the insider now directly owns 34,460 shares in the company, valued at approximately $3,081,068.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nicholas K. Akins sold 11,152 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $84.94, for a total value of $947,250.88. The disclosure for this sale can be found here. Insiders sold a total of 24,637 shares of company stock worth $2,112,145 over the last quarter. Corporate insiders own 0.16% of the company’s stock.

AEP traded up $0.92 during mid-day trading on Wednesday, reaching $89.24. The stock had a trading volume of 66,216 shares, compared to its average volume of 2,577,575. The firm has a market capitalization of $44.15 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 3.82 and a beta of 0.16. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.37 and a current ratio of 0.49. American Electric Power Company Inc has a 52 week low of $62.75 and a 52 week high of $91.07.

American Electric Power (NYSE:AEP) last announced its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.19 EPS for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.09. The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.23 billion. American Electric Power had a return on equity of 10.81% and a net margin of 12.64%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period last year, the company earned $0.96 EPS. As a group, research analysts forecast that American Electric Power Company Inc will post 4.15 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were given a $0.67 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.00%. American Electric Power’s payout ratio is 67.85%.

A number of equities analysts have recently issued reports on AEP shares. Morgan Stanley increased their target price on American Electric Power from $81.00 to $84.00 and gave the stock an “overweight” rating in a report on Tuesday, February 12th. JPMorgan Chase & Co. raised American Electric Power from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $78.00 to $88.00 in a report on Tuesday, March 12th. Zacks Investment Research raised American Electric Power from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a report on Monday, March 18th. Goldman Sachs Group cut American Electric Power from a “buy” rating to a “neutral” rating and set a $78.00 target price for the company. in a report on Monday, April 8th. Finally, Wells Fargo & Co increased their target price on American Electric Power from $89.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. American Electric Power has a consensus rating of “Hold” and a consensus target price of $81.80.

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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. The company generates electricity using coal and lignite, natural gas, nuclear, hydroelectric, solar, wind, and other energy sources.

Further Reading: Price to Earnings Ratio (PE)

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Institutional Ownership by Quarter for American Electric Power (NYSE:AEP)

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