Nippon Life Global Investors Americas Inc. Trims Position in American Electric Power Company Inc (NYSE:AEP)

Nippon Life Global Investors Americas Inc. decreased its position in shares of American Electric Power Company Inc (NYSE:AEP) by 23.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 67,930 shares of the utilities provider’s stock after selling 21,220 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in American Electric Power were worth $5,978,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sageworth Trust Co lifted its stake in shares of American Electric Power by 1,026.9% during the first quarter. Sageworth Trust Co now owns 293 shares of the utilities provider’s stock valued at $25,000 after buying an additional 267 shares during the period. Legacy Advisors LLC purchased a new position in shares of American Electric Power during the first quarter valued at approximately $25,000. Truvestments Capital LLC purchased a new position in shares of American Electric Power during the first quarter valued at approximately $28,000. IMA Wealth Inc. purchased a new position in American Electric Power during the second quarter worth approximately $30,000. Finally, JJJ Advisors Inc. purchased a new position in American Electric Power during the second quarter worth approximately $31,000. 73.52% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have weighed in on the stock. Zacks Investment Research raised shares of American Electric Power from a “sell” rating to a “hold” rating and set a $96.00 price target on the stock in a research note on Thursday, July 11th. KeyCorp assumed coverage on shares of American Electric Power in a research note on Tuesday, June 4th. They set a “sector weight” rating on the stock. Wells Fargo & Co increased their price target on shares of American Electric Power from $89.00 to $93.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Morgan Stanley increased their price target on shares of American Electric Power from $88.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Friday, June 14th. Finally, Bank of America reaffirmed a “buy” rating and set a $98.00 price target (up previously from $93.00) on shares of American Electric Power in a research note on Tuesday, July 9th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. American Electric Power currently has an average rating of “Buy” and an average price target of $87.45.

In other news, EVP David Matthew Feinberg sold 4,535 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $85.72, for a total value of $388,740.20. Following the completion of the sale, the executive vice president now owns 9,674 shares of the company’s stock, valued at $829,255.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brian X. Tierney sold 4,392 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $86.02, for a total transaction of $377,799.84. Following the completion of the sale, the vice president now directly owns 39,449 shares of the company’s stock, valued at approximately $3,393,402.98. The disclosure for this sale can be found here. Insiders sold 17,943 shares of company stock valued at $1,564,911 in the last three months. Company insiders own 0.16% of the company’s stock.

Shares of American Electric Power stock traded up $0.02 during trading hours on Friday, hitting $88.83. The company’s stock had a trading volume of 10,766 shares, compared to its average volume of 1,608,287. American Electric Power Company Inc has a 1-year low of $68.92 and a 1-year high of $91.99. The firm has a fifty day moving average price of $89.88. The firm has a market cap of $43.81 billion, a P/E ratio of 22.52, a PEG ratio of 3.79 and a beta of 0.16. The company has a quick ratio of 0.36, a current ratio of 0.49 and a debt-to-equity ratio of 1.29.

American Electric Power (NYSE:AEP) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.02. American Electric Power had a net margin of 12.53% and a return on equity of 10.69%. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same quarter in the prior year, the business earned $1.01 earnings per share. The business’s quarterly revenue was down 10.0% compared to the same quarter last year. Analysts anticipate that American Electric Power Company Inc will post 4.13 EPS for the current year.

The firm 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 $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Thursday, August 8th. American Electric Power’s payout ratio is currently 67.85%.

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

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

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